In its first secure outside capital transaction, GunBroker. com has closed a $7-million in debt funding round with Bank of America. The deal - arranged by the Atlanta-based business advisory and private equity firm Triton Value Partners, consisted of a loan for three years and a revolving credit facility.

In terms of popularity of the site, HitWise found GunBroker. com - the biggest online auction site and community for firearms, accessories and hunting supplies - ranking among the leading three most-visited auction sites on the Internet; Quantcast found it ranking among the top 1000 web sites of any kind.

In its decade-old history, ever since the 1999-inception by Atlanta entrepreneur Steve Urvan, GunBroker. com had thus far depended on Urvan's capital and internally-generated funds.

The company intends using the new funding for its further growth. The funds will give GunBroker. com additional liquidity for continued expansion of its technology platform; provision of value added services and content for its ever-increasing users, and survey of new leverage business opportunities.

About the transaction, Urvan said: "In these difficult economic times, it was a pleasure to expand our current relationship with Bank of America. We look forward to our continued strategic alliance with Bank of America and Triton Value Partners as our financial team to help drive the growth of the GunBroker. com businesses in the coming years."