April 6, 2009

GunBroker.com Closes Financing with Bank of America

ATLANTA -- GunBroker.com the world's largest online auction site and community for firearms, accessories and hunting supplies, today announced it has closed $7 million in debt financing with Bank of America.

The new financing, which is comprised of a three-year term loan and a revolving credit facility, is the first permanent outside capital ever secured by GunBroker.com in its 10-year history. GunBroker.com, founded in 1999 by Atlanta entrepreneur Steve Urvan, had previously used founder’s capital and internally generated funds to become amongst the top 5 most-visited auction sites on the internet.

The new capital will be used to provide additional liquidity for GunBroker.com to continue expanding its technology platform, pursue value added services and content for its large growing community, and explore new business opportunities which leverage its core assets.

GunBroker.com

GunBroker.com

“In these difficult economic times it was a pleasure to expand our current relationship with Bank of America, who already provides a variety of cash and credit card services to GunBroker.com, to a new level of partnership” said Urvan who serves as GunBroker Chairman and CEO.

Quantcast ranks GunBroker.com within the top 1,000 web sites of any kind.

Comments (17)

Moltomarco,
Yes,I agree. This administration is currently backing away from their original plans of reinstating the assault weapons ban and tightening the leash on Gun Control due to a lack of political support. It's not going to stop there, Americans have been awakened and plan on reviewing voting records of their local representatives prior to casting a vote in the next election. Supporting the NRA and/or the John Birch Society will help as well.

Posted by: JWallace | April 19, 2009 10:33 PM    Report this comment

JEFF W: I applaud your sense of history, but don't you think it would be wise to do a few things to save our guns prior to our death stand?

Posted by: moltomarco | April 17, 2009 6:18 PM    Report this comment

Moltomarco,
I was born in the region of the country where the first group of colonists refused to give up their arms to the British. A Revolutionary War grave site filled with the militia was in my back yard. For me, the word "Never" is supported more by determination than naivety.

Posted by: JWallace | April 16, 2009 4:15 PM    Report this comment

JEFF: I of course hope you are correct,but your use of the word NEVER, makes me fear you are naive. Nancy Pelosi, arguably the most powerful person in the country, was quoted in a speech last week as saying she would work to see that ALL GUNS ARE REGISTERED. History has shown us that registration is the first step on the road to confiscation (reference Germany Great Britain, Australia and Canada is on it's way). With the democrats firmly in control of both houses and the Presidency, a slim majority on the Supreme Court may be the only thing standing between us and the Second Amendment being struck down, or made impotent by new federal laws.It's definitely a good time to buy and stockpile guns and ammo, but save a few dollars to fund the NRA and to support pro-gun candidates in the 2010 elections, that's how we stop Pelosi/Obama and truly save our guns.

Posted by: moltomarco | April 15, 2009 1:39 AM    Report this comment

I noticed some people are concerned with gun registration. I look at gun registration this way: It's an inventory list of guns the government will never have.

Posted by: JWallace | April 14, 2009 9:47 PM    Report this comment

On-Line Gun Buyers,
Alright, thanks for the positive feedback. I forgot to mention that I also like to check out a Gun Dealers demeanor and rate his customer service skills prior to making a purchase. I do not own a video phone so internet shopping for me would be more difficult. Not to mention I'm not stationary. You do have a point though: Customer service over the internet would be the same regardless if I wore Haggars or Carhart Stone Washed Bibs. I've actually shopped in both attire and received better service when dressed in my Haggars.

Posted by: JWallace | April 14, 2009 9:39 PM    Report this comment

I have to agree with moltomarco and SHARP. I wouldn't trust Bank of America with my supply of toilet paper never mind having a record of any gun purchases. . . . Sorry that's just how I feel about it.

Posted by: NorCalChuck | April 13, 2009 6:20 PM    Report this comment

Aren't you folks 'jumping the gun' pun intended! There is no indication that the loan was a part of the Federal Stimulus package.

BTW: I made close to 100 deals on the internet, mostly purchases . You can check my feedback on Gunbroker.com, AuctionArms.com and m1911.org I was never defrauded in any manner. however, I did save thousands of dollars since 2001.

Rich-D

Posted by: Rich-D | April 9, 2009 8:04 PM    Report this comment

Steve Urvan is a fine entrapenour, and will use the funds wisely. Bought or sold around 50 firearms on GB..no problems. Agree that feedback is an inportant tool. Now, for a laugh: GUN SALESMAN OF THE YEAR Then a photo of Obama appears with the NRA logo at the bottom.

Posted by: Teddy. | April 9, 2009 4:51 PM    Report this comment

Way to go GB. I hope you enjoy spending the hard earned monies of Americans taxpayers. Can anyone say Bank of Obama?

Posted by: ajwrangler | April 9, 2009 4:22 PM    Report this comment

Agree with SHARPS. Obama using our tax dollars to take control of banks - BOA number 2 in money received. Obama can now see who is buying what and for how much and will soon be OK'ing what and to whom it can be sold. Can you say TROJAN HORSE.

Posted by: moltomarco | April 9, 2009 3:10 PM    Report this comment

I just bought a brand new Sig Sauer P226 Elite Stainless over the Internet. I picked it up last Saturday at my local gun dealer and I just got through shooting it and cleaning it about an hour ago. It's sweet!

I'll agree that law abiding gun owners just don't screw over other law abiding gun owners. The only people I trust are those guys and gals who carry a concealed firearm in public. I don't want any part of anybody who doesn't carry. It's a duty, not just a right. Anyway, I have no problem buying a gun through an Internet dealer, just check them out first.

Posted by: SaveTheGuns.com | April 9, 2009 2:03 PM    Report this comment

look at feedback, buy only items with pictures, look at feedback other buyers have written in with, and if all positive buy from with confidence. just know if it is used you get what you pay for. i have bought 3 guns from gunbroker and all were better than described.

Posted by: pa-cman | April 9, 2009 11:56 AM    Report this comment

JEFF W: I know what you mean about hefting a gun, examining it carefully, doing side-by-side comparisons, eg comparing a Glock 21 with a 21SF or a 30 with a 30SF - quite a difference! But, I would like to second Geometric 1's comments. I have bought a few guns through GunBroker.com and each time had a good experience. The dealers were knowledgeable, friendly, and professional. I only considered the guns with pictures, though, and what I saw was indeed what I got. Happy shooting, and buying.

Posted by: mookien | April 9, 2009 11:20 AM    Report this comment

Bank of America has squandered 18 billion thus far without one ounce of remorse in it's ranks. Beware:Guns and "stimulus" money from the government,they mix like OIL and Water. This government is about contolling the sales and distribution of any guns whatsoever and this is one more way to get a handle on major distributors, period. Semper Fi

Posted by: Sharps | April 9, 2009 9:19 AM    Report this comment

Hello JEFF W...
Just wanted to say that I have purchased at least 10 firearms and sold a couple on GunBroker.com. If you start buying or selling on there, BE VERY CAREFULL...you will sometimes meet and talk to some of the most honest and nicest people!! LOL!!! Guess that "Law Abiding" gun owners just don't screw other "Law Abiding" gun owners...what you see is usually what you get. I have been dealing on GB since 2007, and not being able to get FFL dealers here to order or have what you want in stock, I think GunBroker is a wonderfull place to shop! I have never had a problem with a purchase. If you go to the site sometime..look me up and read my "feedback"...type in Geometric1 in the search bar...

Kindest Regards......

Posted by: Geometric1 | April 9, 2009 9:00 AM    Report this comment

Obama's stimulus plan is already working? I'm not comfortable purchasing guns off the internet. I kinda like to touch and compare before I purchase. I also do not like playing the return game.

Posted by: JWallace | April 7, 2009 12:04 AM    Report this comment

Add your comments ...

New to Gun Tests? Register for Free!

Already Registered? Log In