GE Financial Cuts off Lending to Gun Shop Owners

[dan_bgblue]

http://www.foxnews.com/us/2013/04/25/ge-capital-cuts-off-lending-to-gun-shops/?test=latestnews

[suncat05]

Okay, since they don't want our business.........we'll not do business with them.
You guys know "why" GE is doing this? Because the chief CEO of GE is one of Obama's good friends.
Hey, GE isn't the only game out there, and truthfully their products haven't been all that good price wise or quality wise for many years now. So to hell with GE & their damn products.

[CitizenBBN]

I already had to get a merchant account through a company that targets the gun industry, too much hassle to deal with underwriters who don't know the business. FWIW the auction business is even worse, card underwriters have no clue how that business works, thinks it's all like ebay and has chargeback risks.

It will be an opportunity for someone. Wish I had the money and it would be me. Gun stores are low risk. Gun values won't tank, the stores are tough to scam b/c of the NICS checks and only shipping to other FFLs, most ways in which finance flooring companies can be cheated in retail come with felonies in the gun business b/c you're going to be violating the GCA to pull it off.


Would be a great opportunity for the NRA to open a credit business. I don't put it past the NSSF to start something either, with the backing of the big companies. They may a huge amount of money on the SHOT show and from the support of the manufacturers, I can see them wanting to provide capital options to the rest of the industry. They and the NRA both provide funding for ranges already.