Auctionbytes-NewsFlash, Number 2000 - March 18, 2009 - ISSN 1539-5065      Previous Story | | Next Story

By Ina Steiner
AuctionBytes.com
March 18, 2009
Reading AuctionBytes: GunBroker.com Closes $7 Million Financing Deal

GunBroker.com, the online auction site and community for firearms, accessories and hunting supplies, announced it has closed $7 million in debt financing with Bank of America. The transaction was arranged by Triton Value Partners, an Atlanta based business advisory and private equity firm.

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. 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 that leverage its core assets.

http://www.gunbroker.com