Burns Funding, an alternative funding company for entrepreneurs and small businesses, has introduced a program, which founder and serial entrepreneur Peter J. Burns III promises will “create residual wealth” for those who participate.
Michael Gelband’s Exodus Point launched in 2018 with $8.5 billion in assets. Expectations were high that the former Millennium Management executive would be able to take the skills he had learned at Izzy Englander’s hedge fund and replicate its performance, after a decade of running its fixed income business. The fund looks to be proving Read More
Burns, who has been helping entrepreneurs fund and manage their own businesses for more than four decades, is seeking qualified candidates, through Burns Funding, a state-of-the-art program of unsecured funding, which “essentially pays for itself through a pair of passive income streams,” according to Burns.
“I know it sounds too good to be true,” said Burns. “But what we are doing is making savvy use of readily available technology around e-commerce stores and Artificial Intelligence-powered crypto bots.
“This is a 100-percent leveraged capitalization. For qualified candidates, the full debt is supported by the immediate cash flow of two main, passive-income generators.”
How The System Works
Burns went on to describe how the process works.
Qualified applicants who get funded may receive up to $200,000 to get started.
At first, the full debt is supported by an immediate cash flow from the crypto bots. That is usually the case for three to four months—when the online store’s cash flow begins to kick in and pay off the initial capitalization.
Burns elaborated on the use of crypto bots. “These crypto bots make money every day and are hedged by a strategy that’s bullet-proof to market fluctuations,” he noted. “The bots are managed by a third party (which takes a 20-percent fee).”
The online stores are similarly “bullet-proof,” according to Burns. “The stores are managed by experts in the field, who have a proven track record. After being seasoned for about two years, the online stores can be resold, often for three times the initial purchase price.”
Burns added that “this isn’t a get-rich-quick scheme. It is a tangible way to create passive income for residual wealth. The passive-income that is created can be transformed by you to build the business of your dreams or bolster a company you have already launched.
Besides Burns Funding, Burns launched Millennial Queenmaker as a platform to facilitate the entrepreneurial careers of female millennials. The company has already attracted scores of applicants and has spawned more than a half-dozen businesses.
Millennial Queenmaker has three main components:
First, it offers mentoring to young women, who have an operating business and the appropriate funding. The entrepreneur merely needs guidance from Burns or the deep bench of female advisors he has assembled, such as Sue Malone of Strategies for Small Business.
Second, Millennial Queenmaker offers a placement service for young female entrepreneurs, who may or may not have the funding, but are unsure of what kind of business they would like to own and manage. The company has vetted more than 40 businesses (some the of them franchises) that have a high propensity for success. They are only missing two ingredients – the appropriate funding and a smart, ambitious young woman ready to take the reins.
Third, Millennial Queenmaker. through Burns Funding, helps provide the necessary capital.
On the heels of Millennial Queenmaker, Burns has also launched StartupKings to provide young male entrepreneurs the same kind of access to unsecured funding.
Taken as a whole, Burns says that 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 that needs money can secure it.”