Capital For Businesses

Randy Kozerski
President of Pacific Island Financial

Please tell us about your business. Pacific Island Financial provides commercial-equipment financing and working-capital loans to Hawaii businesses. We’re headquartered in Hawaii, with a mission to provide customers with the financial resources they need to grow great companies. Pacific Island Financial is co-owned by BSB Leasing Inc. and me. BSB has been providing equipment financing for commercial customers nationwide since 1981.

In what way does your business benefit customers? We provide customers with the capital they need to grow. Whether they’re expanding operations, replacing outdated equipment or adding to their assets, we have a portfolio of products to provide the capital needed to reach their goals. We finance both new and used equipment. Many of our products can be obtained through an easy, one-page application process to minimize the time a customer spends on paperwork. We offer flexible terms and work with each customer to ensure that the product is structured to best serve their needs. We’re able to work with most types of credit, including people who have hit a few bumps in the road during the last recession.

What kind of equipment? Our commercial equipment financing is available for most industries, including construction, restaurants, health care, tour operators and retail. It could be a walk-in refrigeration unit for a restaurant, a backhoe for a construction company, a point-of-sale system for a retail shop or a shuttle bus for a tour operator. Right now, I have a customer looking at a $30,000 “thing” to conduct environmental testing.

Why did you start this business? We started this business from a passion to help other Hawaii businesses grow great companies. Many businesses in Hawaii are underserved or forced to pursue financing options from Mainland companies that don’t necessarily have an intimate understanding or passion about Hawaii. After surveying the market and seeing how much business leaves the state, we decided to launch a locally based alternative offering competitive pricing, flexible terms and an easy application process. Our CEO Don Myerson and I have both lived in Hawaii for several years, and we wanted to offer a trusted resource for Hawaii businesses in need of capital.

What is your professional background in relation to this business? I’m a certified public accountant with more than 15 years of management experience in diverse industries, including insurance, technology and newspapers. In a previous role as president and publisher of The Garden Island, I was afforded a unique view of the political and business climate that other Hawaii business owners navigate. I faced the same struggles that many other small-business owners face on a daily basis. It’s a balancing act of maintaining a talented workforce, offering excellent products and customer service, navigating Hawaii’s complex tax structure, generously giving back to the local community and still turning a profit.

What is the most rewarding aspect of your business? Hands down, the most rewarding aspect is watching customers’ businesses achieve even greater success as a result of the capital we provide. It’s not about the money; it’s about helping other businesses be the best they can be.

What is the most challenging aspect of your business? The most challenging aspect is telling a business owner they don’t qualify based on their credit. We try to help customers in this situation by providing practical advice to help them restore and strengthen their overall credit.

What makes you get up every morning and go to work? The opportunity to meet someone new and help other Hawaii businesses get the funding they need to succeed. The last recession was hard on many businesses, and they are looking for ways to recoup and grow. Being a part of their success by providing needed capital is very rewarding.

What is your business motto or philosophy? It’s not about the money. Some business owners fall into the trap of making a certain income or revenue level their No. 1 priority. Running a business with integrity, giving back to the community and ensuring that our company philosophy values family time are some of the keys to a rewarding career for owners and employees.

What’s one piece of financial advice you give your clients? I don’t have one piece of advice for all customers. As I close in on the completion of my MBA, I look for opportunities to add a fresh insight or idea based on my business and educational background. I’ve been through many strategic planning sessions over the years, examining strengths, weaknesses, opportunities and threats. Sometimes, an outside perspective from someone genuinely interested in a customer’s success can be the catalyst needed to break through a plateau. 378-4433