Major US lender will stop offering firearm financing in light of recent events

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by Chris Standford / News 4

KMOV.com

Posted on April 24, 2013 at 11:03 PM

Updated Wednesday, Apr 24 at 11:20 PM

 (KMOV) – One of the biggest lenders in the country has made a decision to stop offering firearm financing. 

GE Capital is singling out retailers whose primary business is selling guns, directly affecting about .001-percent of the gun retailers across the country.

The company says it’s cutting ties with fewer than 75 gun shops.  It’s rare for metro-east gun shops to offer financing but the managers say those who do offer it, it will be easy to find money elsewhere.

News 4 Chris Standford learned an executive within GE Capital is the father of Sandy Hook gunman, Adam Lanza.  Also, many GE employees live in the Newtown area, with several having children that attended the same school where the mass shooting took place.

The company has the right to loan money to whomever it wants but local gun shop owners think this move could end up hurting them.

Joel Parks of Top Gun Shooting Sports in Arnold says  “I think of those 75 stores, sure, they’re really going to be directly impacted, but every other (gun) store in the country is going to look at this and just cross off GE off the list. A lot of consumers are going to cross them off also.”

 

 

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