Our History
Proudly Serving California Businesses Since 1995
Our Story
A History of Financing Businesses in California
Primary Funding was founded in November 1995 by Patricia Burns. She built Primary Funding’s core values around the ethics of personalized service, which we continue to uphold through our straightforward pricing, flexible terms, and excellent customer service for each of our clients.
As reflected in our “bridge to traditional financing” mission, for over 27 years, Primary Funding has focused on collaborative partnerships within the banking community to help companies reach their goals. As a result, we are proud to have helped companies in just about every industry qualify for traditional financing.
1990s
Founder, Pat Burns began her finance career in 1974 at Riviera Finance. As a single mother, Pat worked hard, learning, and growing in the factoring business. In 1995, she formed Primary Funding Corporation. Attempting to grow a business with little capital provided a large challenge in the first few years; however, her commitment to ethics, personalized service, and strategic partnerships helped the firm stand out in the industry.
2000s
We began to develop more partnerships within the banking community, most prominently when we became a preferred finance partner with Union Bank of California. This union resulted in a strong 20-year relationship that endured through the end of 2021. Over the years and with more collaborations, we went on to help hundreds of businesses secure financing solutions that helped them grow and succeed. 
2000s
2010s
The Primary team continued to expand as well-respected figures in the banking industry joined the firm. Diane Severson, one of the daughters of our founder, joined Primary Funding in 2012, serving as an office manager. Having helped the family over the years in many different capacities, she brought years of experience and dedication. Also, during this time, Jason Severson, Pat’s son-in-law, joined Primary Funding as the new President in November 2012. Shortly after, in 2014, we expanded our product offerings to include lines of credit and term loans. In 2016, our leadership team further developed as Richard Gendron came on as vice president of operations. 
2010s
2020s
We continue to work closely with the banking community and small business organizations throughout California to provide education, connections, and networking opportunities. As a result, most of our clients come from referrals and business bankers. In late 2020, we were able to purchase a local Factoring company, Diversified Business Resources, which supported our continued growth. In January of 2021, Jason Severson was named CEO, and Richard Gendron stepped in as the new president. In late 2021, Primary Funding moved its headquarters from Rancho Bernardo to Carlsbad. We also surpassed $1 billion in total factored invoices since our inception—a significant milestone in our history. We continue to take pride in our reputation for being honest, ethical, and up-front. Today, Primary Funding has expanded into a company that has helped hundreds of firms and is a well-respected name in the alternative finance industry. 
2020s
-
You deserve a financing company that shares your values. Hear from some of our business partners throughout Southern California:
“Working with Primary Funding has been effortless and efficient. When I needed help, Primary Funding worked around the clock to ensure I was able to make payroll and bring on new sales. With an experienced Account Executive assigned to my account, Primary Funding adds an unmatched... Read More
-
You deserve a financing company that shares your values. Hear from some of our business partners throughout Southern California:
“I had been in search of a reputable Factor for our clothing distribution company for about 10 months prior to being introduced to Primary Funding. Every Factor I spoke with made the process sound really complicated and almost overwhelming. I told a friend of mine about my... Read More
-
You deserve a financing company that shares your values. Hear from some of our business partners throughout Southern California:
“Our company has been factoring with Primary Funding for the past 6 years. They’ve always been accurate, efficient and extremely responsive to our factoring needs. They understand our cash flow obstacles. When we submit a factoring request, they are very responsive and make... Read More
Meet Our Team
Partner with a team that shares your values and brings integrity, education, and real talk to every client relationship. Learn more about your San Diego-based team.
Find Us in the Community
Our team is dedicated to making our community and our world a better place through education, volunteering, blood drives, charitable toy drives, and more. Learn more about how our community involvement goes beyond business.