Second Position Merchant Cash Advance in Tinley Park, IL
A second position merchant cash advance adds funding for a Tinley Park business that already has an advance. We take one application to funders that accept second positions and lay out their quotes.
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What does a second position merchant cash advance involve?
Because the two payments run side by side, the review centers on what is left of an average day's deposits once the first funder is paid.
What goes into the funder's review?
The first advance's balance and withdrawal, statements since it funded, and whether its contract allows a second position. With a first withdrawal of $380 a day, room in bank deposits decides the size.
Why take a second position instead of waiting?
Because the opportunity is now. For a restaurant, that means an outdoor seating area or new kitchen line while the first advance is still running.
Who is a second position merchant cash advance for in Tinley Park?
Tinley Park's 1,032 employer companies include the trades below, each shown with its local count. The city has 18.7 employers per 1,000 residents, against 25.3 across Illinois and 24.5 nationally.
| Trade | Businesses in Tinley Park | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Restaurants | 86 | 15.6 | 15.4 |
| Trucking companies | 61 | 11.1 | 3.3 |
| Plumbing and HVAC contractors | 19 | 3.4 | 3.2 |
Why would restaurants pick a second position?
Food deliveries, line-cook payroll and equipment upkeep took the first advance; a second dining room or a catering kitchen can take the second. There are 86 here, 8.3% of the city's employers.
What does a second position do for trucking companies here?
The case for a second advance: an added truck or a new lane now, with fuel, repairs, insurance and driver pay already funded. Census counts 61 in Tinley Park; that's 11.1 per 10,000 people.
How do local plumbing and HVAC contractors use a second position?
First advance spent on parts inventory, vehicles and crew payroll? An HVAC or plumbing company can still fund another service truck or technician with a second position. In the city, 19 operate, or 1.8% of employer companies.
How would the numbers look for a restaurant?
Say a restaurant deposits $86,000 a month and already pays $380 a day on its first advance. A second position of $26,000 at a 1.42 factor rate adds $293 a day for six months. Until the first advance finishes, the account carries $673 a day, 16% of an average day's deposits.
| Sample figure | Value |
|---|---|
| Monthly deposits (example) | $86,000 |
| First advance, daily debit | $380 |
| Second advance | $26,000 |
| Second advance factor rate | 1.42 |
| Second advance, daily debit | $293 |
| Combined daily debit | $673 |
| Portion of a typical day's deposits | 16% |
What drives the total cost?
The 1.42 factor in the example reflects second-position risk. More room after the first debit, and a first advance that is mostly paid back, bring it down. For your own numbers, use the stacked payment calculator.
Free to apply. You never pay us a fee. We call back, usually the same business day.
What steps get a Tinley Park file to second position funders?
- Apply in about five minutes and list the advance you already have.
- We call to go over the first contract and what the account can carry.
- You compare offers with the combined debit beside each one, $673 a day in the example.
What are the alternatives to a second position merchant cash advance?
Skip it when the first debit already takes a heavy share of bank deposits. Consolidating first, or waiting until the first advance is mostly paid back, leaves more room. For a gap that repeats each month, a line of credit costs less than stacking advances.
Which cities within 50 miles of Tinley Park do we serve?
From Tinley Park, Oak Forest is 4 miles out. Within 50 miles, Orland Park has the most employers: 1,688.
| City | Distance | Employers |
|---|---|---|
| Oak Forest, IL | 4 miles | 313 |
| Orland Park, IL | 4 miles | 1,688 |
| Frankfort, IL | 5 miles | 441 |
| Homer Glen, IL | 8 miles | 619 |
Which 2nd position MCA questions do Tinley Park, IL owners raise?
How much does a second MCA cost?
In the example, $26,000 at a 1.42 factor, so the payback is $36,920.
When can I apply for a 2nd position MCA?
Funders want to see several weeks of on-time withdrawals on the first advance before they place a second.
What does a restaurant need to get a second position merchant cash advance?
Recent bank statements and a few minutes for the application. Tinley Park's 86 restaurants apply the same way as any other business.
Need a second position MCA in Tinley Park?
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.