July 16, 2024

Business Bib

Business & Finance Blog

An Entrepreneur with a Difference – Peter Loftin

2 min read

With several awards and recognitions to his name, Peter Loftin is someone to whom you can look up to for inspiration. Achieving success in business at the very young age of 25, he was never very high-headed as far as money was concerned. He believed in giving back to the society that made him the man that he was.

He was born in Raleigh to Maree Nelson Loftin and Robert G. Loftin, a school teacher and Korean War veteran respectively. He did not inherit any estate, a running business or any other property but only the high-spiritedness to achieve something big. He was not the types to be pitied. He wanted to something by himself.

His First Business Venture

This was the time when the wired phones were slowly losing their popularity. The portable phone market was seemingly a golden mine that had yet to be explored. The monopoly of the Bell communications was slowly decreasing.

Peter Loftin smelled an opportunity and established the Business Telecom Inc. (BTI) in the years 1983. He started selling portable phones, many a times going door to door to sell the phones. His business received huge success as people wanted to be free of bound wires when talking.

He was the person that led others to charge a flat price rate for long distance calling. As is said ‘success comes to those that work for it’, Peter Loftin achieved great heights of success in his telecom business as he had constantly struggled for it.

His company, Business Telecom Inc. not only became one of the most successful companies in the country but also one of the top fifteen companies in the world on the basis of clients, number of employees and associated companies.

Other Business Ventures of Peter Loftin

Purchasing the Casa Casurina, the luxury residence of Gianni Versace, the renowned designer was the next business venture that Peter Loftin delved into. The mansion had been the residence of the designer till the time he died in 1997 and was purchased by Peter in the year 2000.

He transformed the property into a luxury boutique hotel which employed a large number of local youths. This was Peter’s way of contributing to the society. He wrapped his charity in dignity and did not let anyone know that this way his way of making the lives of others better.

Peter Loftin is not the types that sit still after being successful. Even after being thoroughly successful, Peter never stopped helping the poor and the needy. He has supported so many charities that it would need a separate mention.

In 2016, Peter Loftin established the Bardstown Bourbon Company, a unique whiskey distillery. The distillery is unique in the sense that its premises hold an events area, an educational center and a visitor’s area, library, bar and whiskey area.

Peter Loftin continues to be active in the industry in some way or the other. He is an inspiration to all the budding entrepreneurs that wish to make a mark.