GE Capital Cuts Off Lending to Gun Shops

April 24, 2013

Months after the shooting that killed 26 at a Connecticut elementary school, General Electric (GE, Fortune 500) has halted its lending program for purchases from gun shops, the company said Wednesday.

GE Capital, which provides consumer financing services, had previously provided lending services to gun shops to help consumers finance firearm purchases. Earlier this year, the company sent letters to shops notifying them that the program would be terminated for future purchases.


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GE Capital had in 2008 stopped providing financing services to new merchants whose primary business was selling firearms. The move to nix the remaining relationships will affect less than 75 retailers and is an "immaterial" part of the company's sales volume, Wilkerson said.