From Banker to Builder: Rich Gendron’s Journey to Purpose-Driven Leadership
In this episode of the Makers & Founders Podcast, hosts Les Kollegian and Mark Gallo sit down with Rich Gendron, CEO and owner of Primary Funding, to explore the layered journey of a commercial banker turned entrepreneur. From his early days in underwriting to owning a business he once worked for, Rich opens up about risk, regret, family, and finding meaning in the work.
From the Tire Shop to Term Sheets
Rich didn’t grow up dreaming of underwriting or finance. In fact, one of his first jobs was at Costco, working in the tire center with his buddies. After graduating from Cal State San Marcos and taking a job at US Bank on the retail side, he quickly realized that soul-crushing monotony wasn’t his future.
A career pivot came by chance when his wife, working at California Bank & Trust, tipped him off about a job opening. It was during that interview that he met Jason Sereson, a future mentor who would not only guide his journey into commercial underwriting but also eventually pass the torch at Primary Funding.
“Sometimes it’s not about what you know—it’s who believes in you.”
The Real Estate That Wasn’t
Rich originally had ambitions to become a real estate investor. He bought a home in Murrieta after the 2008 crash and hoped to flip or hold it as part of a growing portfolio. But life had other plans. A growing family required stability, and Rich chose to sell the house—a decision he later called one of his bigger regrets. It marked the start of his move away from personal investment toward building something within a company.
A Reluctant Entrepreneur
Rich joined Primary Funding 10 years ago, using his banking expertise to help grow the business from the inside. Though he never set out to be a CEO, Jason made him president—and later offered him the chance to buy the company.
“I was running the business anyway. Buying it just made sense.”
Now as owner, Rich has grown the company to a 13-person team approaching 30 years in business. His biggest challenge? Balancing growth with sustainability. He resists the pressure to chase rapid expansion at all costs and instead makes careful decisions around capitalization and client fit.
Growth Without Compromise
Rich takes pride in relationship-driven lending. His underwriting process factors in something most banks ignore: character. He listens to a business owner’s story, weighs their vision, and considers how resilient they are—especially when numbers don’t tell the full truth.
This integrity extends to how he grows Primary Funding. Despite offers of high-interest capital that could fuel a faster expansion, Rich chooses slower, more strategic growth.
“If you don’t fix the issues in the business, more capital won’t help.”
Leading with Vulnerability
Rich openly talks about imposter syndrome, especially as a non-founder owner. Even after being tapped to lead, he wrestled with questions like, “Why me?” or “Am I enough?” EO and business coaching helped him reframe those thoughts and build internal confidence.
He also shared his battle with perfectionism. Early on, it caused him to delay decisions out of fear of failure. Now, he leads by example—owning mistakes, taking action, and empowering his team to do the same.
“Good enough is good enough. Waiting for perfect just slows everyone down.”
Business Is Personal
While Rich is committed to scaling Primary Funding, he’s just as focused on being present for his family. The father of two boys (ages 10 and 8) coaches sports, stays active in their lives, and strives to break the cycle of overworking.
His father, a hard worker who provided for the family, often expressed regret for not being more present. Rich is determined not to repeat that.
Looking Ahead
In the next 3–5 years, Rich envisions growing Primary Funding to over $6 million in top-line revenue and $20 million in assets. His long-term goal? To either sell the company or pass it on to a future leader in the same way it was passed to him—with trust, support, and heart.
“Whether I sell it or not, I want to run it like I will.”