Yes, I think you'd have to say that the ex-post payment for the former round of production is a de facto loan for the next round. Otherwise (assuming away fixed capital) why wouldn't the workers kick out the capitalist and undertake production themselves? The answer must be that they need the loan of a wage fund to survive on during the next round.

That's a very good point about the dealer function. I used to put this by saying that maturity is never matched so that really there are no spot trades, but your way of putting it is probably better.