Ameritrans Unit Hasn't Repaid $20M Loan, US Alleges

Law360, New York (May 6, 2013, 5:01 PM EDT) -- The U.S. Small Business Administration asked a New York federal court Friday to place an Ameritrans Capital Corp. subsidiary into receivership after it purportedly failed to pay back a portion of the $20 million it owes the federal government as a small business investment company.

U.S. Attorney Preet Bharara, on behalf of the SBA, said in a complaint for receivership that Elk Associates Funding Corp. has failed to abide by an October agreement to pay back $7.9 million of the $20 million it received from the...
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Case Information

Case Title

United States of America v. Elk Associates Funding Corp.

Case Number



Ohio Southern

Nature of Suit


Algenon L. Marbley

Date Filed

May 3, 2013

Law Firms


Government Agencies

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