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.
Friday, May 24 2013 1:47 PM EDT2013-05-24 17:47:03 GMT
Breaking News: Saginaw and Michigan State Police on are the scene of a quadruple shooting in Saginaw. Investigators confirm four people were shot at a pre-prom gathering in the parking lot of the FlorenceMore >
A 17 year old girl was shot and killed and three others wounded at a pre-prom gathering in Saginaw. The three others that were wounded were all female.More >
Friday, May 24 2013 4:37 PM EDT2013-05-24 20:37:48 GMT
WNEM has received word of an accident involving a STARS bus on Saginaw's east side. The accident happened near the intersection of Gallagher Street and Sheridan Avenue around 10:30 a.m. Friday. It isMore >
An accident involving a STARS transit bus on Saginaw's east side sent three people to the hospital Friday morning. The bus and a van collided and the bus then crashed into two different houses in the area.More >
Friday, May 24 2013 11:46 AM EDT2013-05-24 15:46:21 GMT
A car crash has blocked the northbound lanes of M-13 in Bay County. Bay County central dispatch said the crash happened around 7:30 a.m. Friday just north of the Kawkawlin River Road and Russel Road. DriversMore >
The northbound lanes of M-13 have been reopened following a two-car crash in Bay County.More >
ObitMichigan.com is dedicated to delivering immediate, up-to-date information on obituaries 24 hours a day, 7 days a week to families and friends in Mid-Michigan. Death notices are displayed during theMore >
ObitMichigan.com is dedicated to delivering immediate, up-to-date information 24 hours a day, 7 days a week to families and friends who have lost loved ones.More >
Friday, May 24 2013 6:00 PM EDT2013-05-24 22:00:26 GMT
Are you staying closer to home this weekend but looking for a place to take the family? Well, TV5 has some options for you. Bikes, Barks and Balloons is happening in Frankenmuth this Memorial Day weekend,More >
Are you staying closer to home this weekend but looking for a place to take the family? Well, TV5 has some options for you. More >
Friday, May 24 2013 4:00 PM EDT2013-05-24 20:00:31 GMT
Winners have been selected for this week's installment of Top 5 on 5. WNEM was looking for the best place in Genesee County and the Tri-Cities for a milkshake. After counting the votes, the winner forMore >
Winners have been selected for this week's installment of Top 5 on 5.More >
Friday, May 24 2013 4:55 PM EDT2013-05-24 20:55:30 GMT
The ongoing saga involving the Buena Vista school district has taken another unexpected turn. Despite getting assistance from the state, The Michigan Education Association says the district allegedlyMore >
The ongoing saga involving the Buena Vista School District has taken another unexpected turn.More >
Friday, May 24 2013 2:31 PM EDT2013-05-24 18:31:05 GMT
Police looking for a 25-year-old woman who disappeared from her job at a West Michigan gas station last month are getting 20 tips a day. Norton Shores police Chief Dan Shaw said Friday that while theMore >
Police looking for a 25-year-old woman who disappeared from her job at a West Michigan gas station last month are getting 20 tips a day.More >