GE Capital Cuts Off Lending to Gun Shops
Posted: Fri Apr 26, 2013 6:38 am
many of the leading banks and financial institutes in US have stopped loaning money to Gun Shops/businesses
From Wall street journal
http://online.wsj.com/article/SB1000142 ... 81232.html
This month, Glenn Duncan, owner of Duncan's Outdoor Store in Bay City, Mich., said he received a letter from GE Capital Retail Bank in which the lender said it had made "the difficult decision" to stop providing financing services to his store. Other gun dealers have received similar notices.
Rex McClanahan, co-owner of Buds Gun Shop in Lexington, Ky., remembered first meeting GE representatives at an outdoor trade show called Nation's Best Sports in Fort Worth, Texas.
GE is at least the second big financial firm to retreat from the gun business following the school shootings, which claimed the lives of 20 first-graders and six adults in December.
From Wall street journal
http://online.wsj.com/article/SB1000142 ... 81232.html
This month, Glenn Duncan, owner of Duncan's Outdoor Store in Bay City, Mich., said he received a letter from GE Capital Retail Bank in which the lender said it had made "the difficult decision" to stop providing financing services to his store. Other gun dealers have received similar notices.
Rex McClanahan, co-owner of Buds Gun Shop in Lexington, Ky., remembered first meeting GE representatives at an outdoor trade show called Nation's Best Sports in Fort Worth, Texas.
GE is at least the second big financial firm to retreat from the gun business following the school shootings, which claimed the lives of 20 first-graders and six adults in December.