GE Capital Drops Loans To Gun Shops

[dusterboy49]

theblaze.com/stories/2013/04/24/financial-gun-control-ge-capital-quietly-cuts-off-lending-to-gun-shops/

 

[Double T]

It is their business to do what they think is best. While it sucks, I am sure many gunowners will discontinue to do business with them.

 

[Valvestate]

All i could focus on was tragical events

 

[irl104]

May they go bankrupt quietly.

 

[No2rdame]

May they go bankrupt quietly.

Fat chance. Our government would declare them too big to fail and we, the taxpayers, would foot the bill for their fiscal irresponsibility. All the while, the top executives would be getting tens of millions of dollars in bonuses.

 

[ryknoll3]

GE Capital is the bank for Bud's Gunshop credit cards. I wonder if they'll pull the plug on that too.

 

[BogWalker]

Well, the market didn't go away so I guess they're just losing money. Somebody will be along and snatch it up.

 

[sharkey]

GE Capital is the bank for Bud's Gunshop credit cards. I wonder if they'll pull the plug on that too.

Dick's cards as well.

 

[atvdave]

GE Capital stops lending to gun shops: WSJ - MarketWatch

But they have no problem making firearms for the military? along with some top notch advance technology for the radar & weapons systems?

Edit: another link...

http://www.nbcnews.com/business/general-electric-halts-financing-gun-shops-6C9592611

 

[strokin7.3]

Dick's cards as well.

If you mean those freedom hating ass hats at Dicks sporting goods, I hope that you have shredded their card and not gave them a penny of your money since mid December..

 

[WyldeShot]

Add another business / bank to the list of places not to do business with.

 

[ModernGunner]

Well, that's a GOOD thing, isn't it?

More business for those lenders that ARE gun-friendly.

At least NOW ya know who's side GE Capital is on. Pro-gun folks should start getting rid of any vestige of GEC in their life. Refinance, get rid of GEC credit cards, etc.

 

[mbafta]

Since GE Capital is the bank behind a lot of store credit cards like Dick's, Lowe's, etc. I'm sure all of us have made a "donation" to them at some point...

 

[Spike Jones 5 2002]

I will close all of my G.E capital cards today. So long sucker.

 

[Punkinhead]

I had no idea you could get a loan for a gun. That ranks right up there with payday lending, rent to own furniture, and lottery tickets. Good for them for getting out of the business of scamming people who can't do math.

 

[LarryC]

I had no idea you could get a loan for a gun. That ranks right up there with payday lending, rent to own furniture, and lottery tickets. Good for them for getting out of the business of scamming people who can't do math.

I would imagine the "loans" are business loans.

GE has had this department for many years - If a gun shop like Buds wants to purchase 50 AR's at $700/each that's $35 Grand. GE (and many other banking organizations) will loan the business money (Capital) to make the investment in inventory.

It would not be unusual for a small / medium size gun shop to have a quarter to half million invested in inventory. Many have much more, few have the liquid cash to pay for that much stock. Don't know if any of the distributors or manufactures do any consignment deals or not.

By the way it is quite easy for most to get a "loan" to purchase a gun - It's called a credit card - some probably pay as much in interest as the gun cost before it's paid off!

 

[jb1911]

I haven't given GE a cent in years. Ever since Jeff Imelt took over and buddied up with Osama Obama.

 

[Punkinhead]

I would imagine the "loans" are business loans.

Thanks - that makes more sense.

 

[zippy23]

You guys know GE is in bed with Obama right? An ex VP of GE was one of obama's advisor's, the same year the paid NO TAXES. Guys, its all corrupt, it is literally US against THEM. i hope this country splits in half, liberals live on one side, every else on the other, we actually have stuff and they all go broke and......well you get the point