Second Position Merchant Cash Advance in Waukegan, IL
Second position merchant cash advances let a Waukegan business sell a second slice of future bank deposits while the first advance is still collecting. One application reaches the funding partners that do it.
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How does a second position merchant cash advance work?
Two advances, two debits: the second funder's $22,500 in the example is collected alongside the first until each contract is complete.
What do funders check?
How much of $75,000 in monthly bank deposits remains once the first funder is paid, and whether the account has stayed positive since the first advance.
How much can the second advance add?
What the bank deposits can carry after the first withdrawal. The example adds $22,500 for a business depositing $75,000 a month.
Where does a second position merchant cash advance fit in Waukegan's economy?
Here is how the trades on this page are represented among Waukegan's 1,537 employers. Most of the city's employers are small: 924 have under five employees, while 154 have between 10 and 19.
| Trade | Businesses in Waukegan | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Landscaping companies | 108 | 12.3 | 3.4 |
| Restaurants | 105 | 11.9 | 15.4 |
| Trucking companies | 40 | 4.5 | 3.3 |
Why would landscaping companies pick a second position?
A landscaping company that took a first advance for crews, fuel, plants and mowers doesn't have to wait to fund new mowers or a second crew. Waukegan counts 108 of them, 7.0% of local employers.
What does a second position do for restaurants here?
The second position gives a restaurant room for a patio build-out or a second location while the first keeps running. That trade has 105 locations here (11.9 per 10,000 residents).
How do local trucking companies use a second position?
Second positions let a trucking company keep fuel, tires and driver payroll covered and still fund another rig or more drivers. Locally, 40 operate, 1.4 times the U.S. rate.
What is the cost for a landscaping company?
Sized for a landscaping company: monthly deposits $75,000, first debit $332, second advance $22,500 at 1.38, combined debit $578 a day.
| Sample case | Value |
|---|---|
| Monthly deposits (example) | $75,000 |
| First advance, daily debit | $332 |
| Second advance | $22,500 |
| Second advance factor rate | 1.38 |
| Second advance, daily debit | $246 |
| Combined daily debit | $578 |
| Percent of daily deposits | 16% |
How can the price come down?
A second funder is paid behind the first, so second positions are priced above first positions. The lower the combined withdrawal is as a share of deposits, the better the offers. 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.
What does the Lake County business base look like?
The city accounts for 8% of employers in Lake County. By size, 252 city firms employ 5 to 9 people, compared with 2,986 across the county.
| Employees | Waukegan | Lake County |
|---|---|---|
| Under 5 | 924 | 12,425 |
| 5 to 9 | 252 | 2,986 |
| 10 to 19 | 154 | 2,073 |
| 20 to 49 | 122 | 1,596 |
What are the steps to get second position funding?
- Apply and attach bank statements that show the first debit.
- We call to agree the amount before the file goes out.
- Second-position funders send offers; you compare them and sign the one that fits.
What are the alternatives to a second position merchant cash advance?
Skip it if the first advance is nearly done; waiting a few weeks can mean a better first-position offer. If debits already feel heavy, consolidate instead. If revenue swings, revenue-based financing after the first advance ends can fit better.
Which cities within 50 miles of Waukegan do we serve?
Gurnee is the closest, 3 miles away.
| City | Distance | Employers |
|---|---|---|
| Gurnee, IL | 3 miles | 891 |
| North Chicago, IL | 4 miles | 306 |
| Libertyville, IL | 8 miles | 401 |
| Grayslake, IL | 9 miles | 349 |
Which questions about second position funding come up most?
Does a second MCA affect my first advance?
No, as long as the first contract allows it and both withdrawals clear. We read the first contract before shopping the file.
Does a 2nd position MCA take longer to fund?
A little, since funders read the first contract too. A complete file keeps that extra review short.
Do funders offer second advances to Waukegan landscaping companies?
They do. With 108 landscaping companies in Waukegan, funding partners see these files regularly; the offer depends on deposits and time in business, not on the trade alone.
Looking at a second-position advance in Waukegan?
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.