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Adam Lomax of Oxygen Funding provides a quick tip.
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Bill: What’s the difference between a business owner wanting financing and business owner needing financing, and how will it effect where they want to go get that capital? Here’s lending expert Adam Lomax.
Adam: Wanting financing often times comes around from having a marketing plan, having an idea of where you’re going, having customers that are in the wings or perhaps even starting working with customers in the early days, knowing they’re gonna grow, knowing you’re gonna need more money to support that growth. That’s a good situation. It’s a challenge, it’s a business challenge, but it’s a good challenge. Versus, I haven’t paid my taxes and I need to catch up on that, or I can’t cover payroll next week. And those are also challenges, but those are a little more tougher challenges. Neither one is necessarily bad, I mean you can certainly take care of those short-term challenges and return back to the former, but it’s just different from the financing perspective.
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Adam Lomax is Oxygen Funding's Executive Vice-President and COO. Adam worked for 13 years at Meadowbrook Insurance Group as the VP of Information Services specializing in commercial insurance. Adam was also the President of a trade association for trucking companies and their employees.
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