Lake Worth Gun Shop and Shooting Range Gets $500K Stimulus Loan

gun pic.jpg
Flickr user: kevitivity
Your stimulus dollars at work.
Buying guns and shooting targets in Lake Worth is officially part of the economic recovery effort.

According to data compiled by the nonprofit journalism website ProPublica, the Palm Beach Shooting Center in Lake Worth received a $550,000 loan backed by the Small Business Administration using stimulus funds.

The loan, which was awarded in February 2010, was made possible through a program designed to keep mom-and-pop operations afloat during the recession. Since 2009, federal stimulus funding has helped the government back billions of dollars in loans to small businesses that would not otherwise be able to get credit in the private marketplace.

In South Florida, the Small Business Administration has used stimulus funds to guarantee loans to doctor's offices, bakeries, and private schools. Companies obtain the loans from banks, but the government insures a portion of each loan against default -- sometimes guaranteeing up to 90 percent of the loan.

The Palm Beach Shooting Center is a licensed gun dealer, selling handguns, rifles, and ammunition, according to its website. Patrons can also shoot targets, receive shooting instruction, and take a class on carrying a concealed weapon.

The Pulp called the center this morning to ask how the owner used his $550,000 loan, but he was not available. We'll update when/if he responds.

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10 comments
quick loan
quick loan

 Online loans seem to be taking up everywhere. A simple Search will confidently audience your screen with your on the internet loans websites hoping to get your company

Fast Business Loan
Fast Business Loan

Hello.. Your post is very interesting. I am glad I visited here and gathered such facts. I was looking for the loan information and reached here.

Business Loans
Business Loans

 Huge amount . Great deal . Thanks for the share . It entertains me a lot . :)

Business Loans
Business Loans

Great blog . Thanks for this . Keep posting . :D

Stevens
Stevens

This is not news, this is typical south florida whining. So a gun store is not worthy of a loan because you don't believe in an activity? I bet you wouldn't have wrote the story if the loan went to a bagel store.

Frederic
Frederic

Why is this newsworthy or was this supposed to be an advertisement.  It is a loan not a grant.  Why the scrutiny?

KenEsq
KenEsq

The small business got a loan and they're still in business presumably employing people and paying back the money owed. They're also training people on the use of firearms. What's bad about this or worthy of scrutiny? I'm not an advocate of gun ownership, but if someone is going to own one, and carry it, I'm all for training and places to practice.I bet if this was a bar or conevenience store that sold beer/cigarettes we wouldn't be seeing this type of article.

Randy Lay
Randy Lay

Why not? Is a gun shop not a small business? I would venture to say that the Palm Beach Shooting Center is far less likely to default on their loan than say, an already faltering California "Green Energy" business. 

Mdoliveira
Mdoliveira

It is worthy of scrutiny because it is public money. Any time government spends money it is worthy of scrutiny.

KenEsq
KenEsq

 Except the government didn't spend money they only guaranteed the loan. So, it's likely that the government will make money by having a profitable business that is expanding and potentially hiring more employees. I'd take a good loan to an existing business any day over the close to $1 billion that we gave away to Scripps and Max Planck.

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