Hi Dan! We last spoke to you way back in December of 2020. What’s new? How’s your better-half, Sabreena? How’s your dog, Harley? In other words – what’s goin’ down in Dan Town?

All is going well in “Dan Town!” It finally feels like business is starting to get back to normal and businesses are out trying to grow. Over the last two months, I’ve seen a significant uptick in activity and bringing on new clients. It feels good to be back into the swing on things and doing what I love, helping businesses grow!

Sabreena and Harley are doing great!  

We hear Primary Funding has an ongoing golf competition amongst some of the employees in the office. Someone in the office wanted us to ask – How’s that going for you?

(Hint: it was someone you played golf with recently at Torrey Pines).

Next Question…

If I’m being forced to answer the question, it is true. I have been dethroned and have lost the coveted PFC Golf Champion Trophy (a.k.a. Gary). However, as with any legendary story, it’s not the failures or setbacks that define me, it’s the triumphant comeback!

The PFC Golf Champion Trophy will be back in its rightful place, on MY desk!

Sounds like someone is rubbing it in. Let’s talk business! Obviously, it’s been an unusual year for business owners. What are you seeing in the business world from a lender perspective? Any advice to business owners seeking a loan right now?

It’s definitely been an unusual year and half, but as I mentioned in the above question, I do feel like things are starting to get back to “normal.”

One piece of advice I would give business owners seeking a loan is to have accurate financial reporting. It certainly helps on the lenders end, and will go a long way establishing credibility. More importantly, as the business owner it’s important that they know where the company is at, financially, and have some kind of projections in place.

There always seems to be a lot of confusion and misconception around factoring. Why is that? Can you briefly explain – What is factoring? How does it work? Who does it help?

Wow, that’s a question that I could spend a lot of time on. But to try and keep things simple:

Factoring is the sale & purchase of a business asset, Accounts Receivable. The intended purpose is to allow businesses to speed up cashflow so they can take advantage of growth opportunities. Factoring should be utilized for business that are experiencing growth and 1.) Can’t get traditional bank financing, 2.) Can’t get enough capital from a traditional bank, and/or 3.) Don’t want to give up equity.

Last question… and this is an important question… If you could time travel, what time would you travel to, and why?

500 years into the future. I’m just curious to see what happens to our planet and what technology does to our society. If you have questions for Dan, you can email him directly at: dlozier@primaryfunding.com