Peter J. Burns, III Writes for Entrepreneur Magazine About How Credit Cards Can Help Entrepreneurs Grow Their Business

Burns Funding is an alternative funding company that helps entrepreneurs and investors obtain private unsecured debt capital

AUSTIN, CALIFORNIA, UNITED STATES, July 2, 2024 /EINPresswire.com/ -- Peter J. Burns III, a serial entrepreneur and founder of Burns Funding, an alternative funding company that helps entrepreneurs and investors obtain private unsecured debt capital, has explored a very controversial topic in his latest column for Entrepreneur Magazine.

The column addresses how credit cards can be used to help entrepreneurs grow their business. It can be read here.

Burns, who been writing for Entrepreneur for years, writes from experience in the column.

“I was a teenager … when I opened my first moped rental company,” Burns wrote. “It started out with my customers paying all cash, but ultimately, I was able to get a merchant account because credit cards were just coming into vogue. This was great for my business because it made it more convenient for my customers. It would also become a powerful way to fund my purchase of additional inventory.”

Burns went on to describe how credit cards gave him the ability purchase inventory with a 55-day float, effectively at a zero interest.

“Entrepreneurs don’t realize that if you are disciplined, then credit cards will allow you to increase your spend inventory and, ultimately, generate more sales,” said Burns.

He then went on to highlight another effective strategy he used in the 1970s.

“I remember one of the Visa cards had a $25,000 limit,” noted Burns. “I soon realized that I could process my own credit card through my merchant account. If I timed it right, this afforded me 55 days of interest-free money.”

While some credit card companies frown on this approach today, others don’t care since they get a small transaction fee. Burns noted in the article the power of reward programs, which can ultimately balance out the transaction fee.

The bottom line, according to Burns, is to be open-minded. “Being curious and creative never hurt anyone,” said Burns.

Burns’ successful track record on such approaches has earned him a coveted role as a columnist for Entrepreneur and Forbes.

To see his articles on Entrepreneur, visit:
https://www.entrepreneur.com/author/peter-j-burns-iii

To see his articles on Forbes, visit: https://www.forbes.com/sites/forbesbusinesscouncil/people/peterburns/

His acumen as an entrepreneur has also led to the creation of a novel approach to helping entrepreneurs obtain the capital they need to be successful, or the “Burns Funding Method.”

The company recently published a website devoted to the method, which explains this innovative approach where Burns Funding obtains the funds for borrowers, then repays their loans using proven passive investment income streams. Not surprisingly, the Method has attracted almost three dozen borrowers in recent months, with many, many more in the pipeline for being approved. Not surprisingly, Burns Funding was recently profiled in the Wall Street Times in the following article about its meteoric rise – https://wallstreettimes.com/exploring-innovative-strategies-for-funding-start-ups/

Burns noted that the company’s niche will give it staying power.

“We are a great alternative to traditional banks, which are difficult for entrepreneurs to work with,” said Burns. “We have hundreds of private investors who have come to trust Burns Funding and are willing to back that up with their capital. We embrace borrowers. This attitude directly opposes the negative reception that entrepreneurs receive from banks and other conventional lending sources.”

ABOUT PETER J. BURNS III

Based in La Jolla, California, Peter J. Burns III grew up in a well-established New England family in New Canaan, Connecticut. He was briefly educated at the United States Military Academy Preparatory School at West Point, the University of Virginia (UVA), and finally, Harvard Business School's Owners and Presidents Management Program. While his two younger brothers went on to have very successful traditional business careers, Burns chose the life of a startup entrepreneur.

Burns started hundreds of businesses over the ensuing decades. In the early 2000s, he moved to Arizona and became a pro bono adjunct faculty member at the highly respected Barrett Honors College at Arizona State University. In 2006, Burns took his teaching practice across town to Grand Canyon University and its entrepreneurial founder Brent Richardson, where the two men would launch the nation’s first College of Entrepreneurship at GCU.

In recognition of his work, the Arizona chapter of the Future Business Leaders of America named Burns its Businessperson of the Year in 2007.

Shortly thereafter, Burns started Club Entrepreneur to unite entrepreneurs in an “open-source entrepreneurship” platform. The Phoenix chapter attracted 10,000 members.

In 2016, Burns moved to the West Coast and started Burns Funding to help entrepreneurs secure hard-to-get funding for their businesses.

Taken as a whole, Burns says all the businesses have a “common thread.”

“Every business I start represents my desire to help existing and would-be entrepreneurs reach their full potential,” said Burns. “Too often, they give up because of a lack of capital. I set out to solve that problem and won’t rest until every entrepreneur who needs money can secure it.”

Holt Hackney
Hackney Communications
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