California Business Journal Chronicles Burns Funding's Foray Into Shelf Corporations and Their Utility as a Tool for Alternative Funding

Burns Funding - a venture debt lender that helps entrepreneurs and investors obtain funding for their businesses - was recently featured in the California Business Journal about its foray into shelf corporations and how entrepreneurs can use them to raise capital.

According to Wikipedia, a shelf corporation is "a corporation that has had no activity. It was created and left with no activity - metaphorically put on the 'shelf' to 'age.' The company can then be sold to a person or group of persons who wish to start a company without going through all the procedures of creating a new one."

The publication noted that "Burns Funding helps the entrepreneur raise the necessary capital to purchase … the shelf corporation." Then, Burns Funding helps entrepreneurs uses that corporation to secure loans or lines of credit, which can support their needs for startup or growth capital.

"It's a way for entrepreneurs to raise as much as $200,000 for their business without setting foot in a bank, or sacrificing their personal credit," Peter J. Burns, III, the CEO and founder of Burns Funding, told the Journal.

The article highlighted the experience of Dr. Cliff Janke, an Emergency Room Physician and owner of dozens of commercial real estate projects throughout the Southwestern United States, who experienced the process with Burns Funding.

"There is no shortage of investment opportunities," Dr. Janke told the Journal. "There is just a shortage of funding to take advantage of those opportunities. That was one of the most frustrating aspects of the early part of my career as an entrepreneur."

The full article can be viewed here (https://calbizjournal.com/venture-debt-company-gets-creative-in-helping-entrepreneurs-secure-capital/)

THE 'NOVEL' NATURE OF THE BURNS CORPORATE CAPITAL PROCESS

To facilitate this novel funding exercise, Burns Funding created the Burns Corporate Capital (BCC) process. As part of the process, Burns Funding helps the entrepreneur purchase a shelf corporation, which costs between $11,000 to $13,000. It does this by cost-effectively accessing capital from the entrepreneur's credit card. The novelty of the approach is that Burns Funding agrees to pay back the loan made through the credit card as long as the entrepreneur participates fully in the BCC process.

"Once they have the corporation in hand and complete the requisite paperwork, they can obtain access to credit lines well into six figures in as little as 50 days," added Burns.

Burns, himself a serial entrepreneur, expects BCC to soar in popularity.

"There are hundreds of thousands of small business owners, who have the credit score, but can't substantiate the income through W-2s," he said. "They simply are not able to obtain significant unsecured funding to pursue their business dreams."

Burns' reputation in the alternative lending space has caught the attention of both Entrepreneur and Forbes, two prestigious magazines that enlist Burns as a regular columnist.

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/

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."

7514 Girard Ave
Suite 1416
La Jolla, CA 92037

Burns Funding is a venture debt lender that helps entrepreneurs and investors obtain funding for their businesses

This release was published on openPR.