4

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

^
Keep New Times Free
I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of South Florida and help keep the future of New Times free.

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.

Keep New Times Broward-Palm Beach Free... Since we started New Times Broward-Palm Beach, it has been defined as the free, independent voice of South Florida, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering South Florida with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.

 

Join the New Times community and help support independent local journalism in South Florida.

 

Join the New Times community and help support independent local journalism in South Florida.