EXHIBIT 31.1
        CERTIFICATION UNDER SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
                 DISCLOSURE IN THE REGISTRANT'S QUARTERLY REPORT



I, Gary C. Granoff, President, Chief Executive Officer, and Chief Financial
Officer of Ameritrans Capital Corporation, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Ameritrans Capital
Corporation (the "report");

2. Based on my knowledge, this report does not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the
statements made, in light of the circumstances under which such statements were
made, not misleading with respect to the period covered by the report;

3.  Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material respects
the financial condition, results of operation, and cash flows of the
registrant as of, and for, the periods presented in the report.

4.  I am responsible for establishing and maintaining disclosure controls
and procedures(as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))
and internal control over financial reporting (as defined in Exchange Act
Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	(a)	Designed such disclosure controls and procedures, or caused such
                disclosure controls and procedures to be designed under our
                supervision, to ensure that material information relating to the
                registrant, including its consolidated subsidiaries, is
                made known to me by others within those entities, particularly
                during the period in which this report is being prepared;

	(b)	Designed such internal control over financial reporting, or caused
                such internal controls over financial reporting to be designed
                under our supervision, to provide reasonable assurance regarding
                the reliability of financial reporting and the preparation of
                financial statements for external purposes in accordance
                with generally accepted accounting principles;

	(c)	Evaluated the effectiveness of the registrant's disclosure controls
                and procedures and presented in this report our conclusions
                about the effectiveness of the disclosure controls and
                procedures,as of the end of the period covered by this report
                based on such evaluation; and

	(d)	Disclosed in this report any change in the registrant's internal
                control over financial reporting that occurred during the
                registrant's most recent fiscal quarter (the registrant's fourth
                fiscal quarter in the case of an annual report) that has
                materially affected, or is reasonably likely to materially
                affect, the registrant's internal control over financial
                reporting; and

5.	I have disclosed, based on our most recent evaluation of internal control
over financial reporting, to the registrant's auditors and the audit committee
of the board of directors (or persons performing the equivalent functions):

	(a)	All significant deficiencies and material weaknesses in the design or
                operation of internal control over financial reporting which
                are reasonably likely to adversely affect the registrant's
                ability to record, process, summarize and report financial
                information; and

	(b)	Any fraud, whether or not material, that involves management or other
                employees who have a significant role in the registrant's
                internal control over financial reporting.


Dated:  November 15, 2004


                       /s/ GARY C. GRANOFF
                       --------------------------------------
                       GARY C. GRANOFF
                       PRESIDENT, CHIEF EXECUTIVE OFFICER AND
                       CHIEF FINANCIAL OFFICER