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Old April 9, 2010, 11:08 AM   #35
riverwalker76
Senior Member
 
Join Date: February 13, 2010
Location: Kentucky
Posts: 993
You also have to look at all areas of this topic.

Bank of America has a very stringent risk assessment program. If they find anyone or anything to be a high risk loan ... they deny them. Simple enough.

We do not know all aspects of the reasons the OP was denied, but rather his accounting of it. I'm not saying he is being dishonest, but rather that we do not know his credit history, business practices, or place of business. SImply put ... we don't know the whole story.

Also, what about the firearms industry in today's day and age ... given the current administration and political tendencies ... do you find would be an acceptable risk for a loan? Banks look at the long term viability of a business before they loan any amount of money. The firearms industry is not known for it's viability just because of the amount of small businesses that fail in the field each year. Location, demographics, and the economy all play a part in these decisions.

I'm sorry you were turned down, but I don't know enough about the situation to make an educated decision. I find the 'Conspiracy Theory' that BoA is an Anti-Gun lending institution to be just that.

You people really need to look into the lending policies of an institution before you go labeling them "Anti-Gun". I have found that 99% of the businesses that have been labeled as such were done out of ignorance by parties who are mad because they got turned down for a loan.

I'd be willing to bet that if you wanted to go in and open a coffee shop or family restaurant ... they'd have said the same thing. Then what would you call them? Anti-Coffee or Anti-Food? Come on .....
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