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The taxi meter has been switched off at Ameritrans Capital Corporation. The company in 2008 sold its portfolio of medallion loans held by subsidiary Elk Associates Funding to Medallion Financial for $31 million. Elk Associates provides taxicab owners in Boston, Chicago, Miami, and New York City with financing to acquire medallions, or city-granted operating licenses. Medallion loans accounted for about half of Ameritrans' lending portfolio. Ameritrans will use the proceeds of that sale to pay down debt and build its portfolio of corporate loans, including commercial mortgages and mid-market commercial loans.
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| | | Contact Information | |
Address: |
747 3rd Ave., 4th Fl.
New York, NY 10017
| | Phone: | 212-355-2449 | | Fax: | 212-759-3338 |
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| Financial
Highlights | | Fiscal Year End: | June | | Revenue (2009): | (-0.30 M) | | Employees (2009): | 9 | | Employee Growth (1 yr): | (-10.00%) |
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Key People
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Chairman, Managing Director, and CFO; Chairman and President:
Gary C. Granoff
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President, CEO, and Director:
Michael Feinsod
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