Second Position Merchant Cash Advance in Chicago, IL
Second positions add capital for Chicago owners without waiting for a payoff date. We send one application to funding partners that sit behind an existing advance.
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What does a second position merchant cash advance involve?
Think of it as a second advance stacked on the first. Both funders withdrawal the account, so a business already paying $473 a day takes on a second payment beside it.
What do funders look at first?
Funders read the first contract, the statements since it funded and the deposits left after its withdrawal. Some first contracts restrict additional advances, so we check yours first.
How much can the second advance add?
What the bank deposits can carry after the first withdrawal. The example adds $27,000 for a business depositing $107,000 a month.
Who in Chicago uses a second position merchant cash advance?
Among these trades, restaurants have the most locations in Chicago: 4,793. The city's employers are mostly small: 36,462 have fewer than five employees.
| Trade | Businesses in Chicago | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Restaurants | 4,793 | 17.5 | 15.4 |
| Trucking companies | 1,478 | 5.4 | 3.3 |
| Residential remodelers | 929 | 3.4 | 3.9 |
How does a second position fit restaurants?
Food deliveries, line-cook payroll and equipment upkeep took the first advance; a patio build-out or a second location can take the second. Census data lists 4,793 in the city.
What does a second position solve for trucking companies?
When another truck or trailer comes up before the payoff date, a trucking company can stack a second position. There are 1,478 here, 2.3% of the city's employers.
When do residential remodelers reach for a second position?
A remodeling company that took a first advance for crew payroll, rented equipment and materials doesn't have to wait to fund a second crew or bigger contracts. The city counts 929, at 0.9x the U.S. density.
What would a second position merchant cash advance cost a Chicago restaurant?
Sized for a restaurant: monthly deposits $107,000, first debit $473, second advance $27,000 at 1.42, combined debit $777 a day.
| Worked example | Value |
|---|---|
| Monthly deposits (example) | $107,000 |
| First advance, daily debit | $473 |
| Second advance | $27,000 |
| Second advance factor rate | 1.42 |
| Second advance, daily debit | $304 |
| Combined daily debit | $777 |
| Debit as a share of daily deposits | 15% |
What drives the total cost?
Second positions cost more than first positions because the second funder sits behind the first. Funders price from how much room your bank deposits leave after the first debit. Run your figures in the stacked payment calculator.
Free to apply. You never pay us a fee. We call back, usually the same business day.
Where in Chicago do these trades cluster?
The largest ZIP by employer count is 60606, with 3,257; restaurants lead it with 94 locations.
| ZIP code | Employers | Leading trade | Its locations |
|---|---|---|---|
| 60606 | 3,257 | Restaurants | 94 |
| 60611 | 2,784 | Clothing and accessories stores | 204 |
| 60601 | 2,224 | Restaurants | 82 |
| 60654 | 2,224 | Restaurants | 150 |
| 60614 | 2,213 | Restaurants | 242 |
| 60618 | 2,133 | Restaurants | 174 |
What steps get a Chicago file to second position funders?
- Apply and attach bank statements that show the first debit.
- We call to agree the amount before the file goes out.
- Sign and the second funder sends the money; the first advance continues as before.
When is another option better?
If the goal is lower payments rather than new money, a second position works against you; consolidation is the better fit. If the first advance is nearly done, waiting for a new first-position advance can cost less.
Which nearby cities are covered?
Cicero sits 4 miles from Chicago. Oak Park counts 1,561 employer companies, the most within 50 miles.
| City | Distance | Employers |
|---|---|---|
| Cicero, IL | 4 miles | 861 |
| Berwyn, IL | 5 miles | 659 |
| Oak Park, IL | 6 miles | 1,561 |
| Burbank, IL | 8 miles | 585 |
What should Chicago businesses know about second position MCAs?
Can I get 2nd position funding with weak credit?
Yes. Deposits and how the first advance has run matter more than the credit score.
How soon can I get a second MCA after the first?
Funders want to see several weeks of on-time withdrawals on the first advance before they place a second.
Can a restaurant qualify for a second position merchant cash advance?
Yes. A restaurant qualifies the same way as any business: funding partners read bank deposits, balance history and open advances, then make offers you can compare.
Want offers on a second-position advance for your Chicago business?
Applying is free, and you never pay us a fee. Call 877-FUND-654 with any question. We call back, usually the same business day, and we talk with you before your file goes to any funder.