Sirochman hold one of his company's assault rifles
American Spirit Arms' manufacturing plant in Scottsdale.
SCOTTSDALE, AZ (CBS5) -
A local gun manufacturer says Bank of America withheld nearly $100,000 worth of deposits because of what he is selling.
Joseph Sirochman owns American Spirit Arms in Scottsdale. The company manufactures high-end rifles like the AR15, M16 Rifle and M4 Carbine.
"Everything is American made, even down to the metal that we buy," said Sirochman.
"It's melted and manufactured in the USA. We're an American company. Made in American for Americans," he continued.
In mid-December, after the shooting in Connecticut and as talks heated up about a possible assault rifle ban, American Spirit Arms' e-commerce sales skyrocketed.
"Our internet sales started to increase. The deposits really spiked. We basically got five times our normal deposit was coming from our e-commerce site," recalled Sirochman.
However, the CEO and owner of the company said he quickly noticed deposits were not showing up in his company's accounts, so he called Bank of America, with which he had been doing business with for about a decade.
"Bank of America decided to put those deposits under review. We are a small business sand we rely on those deposits, but the review was only supposed to be 48 hours - 48 hours started to turn into two weeks. (Those holds were) not good for a small business that needs the cash flow to actually run its own business," said Sirochman.
Sirochman called the bank's Merchant Services Department and was eventually connected to a manager. Sirochman said she told him "We believe you shouldn't be selling guns and parts on the internet."
He posted the ordeal on his company's Facebook page, and after the post went viral, Sirochman said Bank of America released the funds. He says he believes the bank did not want to support a company with a controversial product.
"(Bank of America held the funds) because we are a firearms manufacturer, and that is in the political spotlight and they had a chance to slow us down," Sirochman said.
"We have all the proper licensing. We follow all the rules and regulations. We're audited by the ATF. We're visited by Homeland Security on a very normal basis," he continued.
CBS 5 reached out to Bank of America multiple times for comment, but our calls and emails have not been returned.
Sirochman has since moved his business to a local bank.
You can see Sirochman's original Facebook post by clicking here.
Copyright 2013 CBS 5 (KPHO Broadcasting Corporation). All rights reserved.
Tuesday, April 20 2010 11:21 PM EDT2010-04-21 03:21:00 GMT
31 people are in trouble with the law after a three day prostitution sting in Richmond. Police told NBC12 they targeted specific areas where residents and business owners complained about the illegal activity.More >
Thursday, April 17 2014 6:40 PM EDT2014-04-17 22:40:34 GMT
Police said a man is accused of fatally stabbing another person who he confronted after the victim was seen leaving with his ex-girlfriend. A report released on Thursday gave details leading to the arrestMore >
Police said a man is accused of fatally stabbing another person who he confronted after the victim was seen leaving with his ex-girlfriend.More >
Friday, April 11 2014 6:08 PM EDT2014-04-11 22:08:56 GMT
A year-long, multi-agency investigation resulted in the arrest of 28 people for charges ranging from murder to racketeering. Law enforcement officers from the Baton Rouge Police Department, East BatonMore >
A year-long, multi-agency investigation resulted in the indictment of 28 people for charges ranging from murder to racketeering.More >
Thursday, April 17 2014 1:59 PM EDT2014-04-17 17:59:57 GMT
Investigators believe a man added last week to the FBI's list of most wanted fugitives could be in mountain areas in California or Nevada. The bureau announced on Thursday that William Bradford BishopMore >
Investigators believe a man added last week to the FBI's list of most wanted fugitives may have returned to mountain areas in California or Nevada.More >
Thursday, April 17 2014 9:05 PM EDT2014-04-18 01:05:03 GMT
A Mount Tabor reservoir that holds Portland's drinking water has been taken offline out of fear that a group of trespassers urinated in it. Five people were seen at Mount Tabor Park around 1 a.m. Wednesday.More >
A Mount Tabor reservoir that holds Portland's drinking water has been taken offline after a teenager urinated in the reservoir. More >
Strong currents, rain and bad visibility hampered an increasingly anxious search Thursday for 287 passengers, many thought to be high school students, still missing more than a day after their ferry flipped onto...More >
Fresh questions arose about whether quicker action by the captain of a doomed ferry could have saved lives, even as rescuers scrambled to find hundreds of passengers still missing Friday and feared dead.More >
Friday, February 28 2014 3:27 AM EST2014-02-28 08:27:54 GMT
On a rainy Monday afternoon, the buzz of air-powered tools rattled through the garage at CSC Lifts, Liners, and Accessories. The experienced hands of Darrell Carmena applied just the right pressure toMore >
A truck, the man of men, holds so many memories for a family. This fitting tribute is a chance to live on through the work, the sweat and the mud.More >