Second Position Merchant Cash Advance in Gloucester, MA
A second position merchant cash advance adds funding for a Gloucester business that already has an advance. We take one application to funding partners that accept second positions and lay out their offers.
A nationwide broker headquartered in Los Angeles. Free to apply, you never pay us a fee, and we call back, usually the same business day.
How does a second position merchant cash advance work?
For a restaurant, the question is simple: after the first withdrawal, do the day's deposits still cover a second one and the bills?
What do funders check?
The first contract, the statements since it funded and what every day's deposits leave once that debit clears.
How much can the second advance add?
What the deposits can carry after the first debit. The example adds $23,000 for a business depositing $92,000 a month.
Who in Gloucester uses a second position merchant cash advance?
Here is how the trades on this page are represented among Gloucester's 897 employers. Of the city's employers, 59% have fewer than five on payroll, and 61 have 20 to 49.
| Trade | Businesses in Gloucester | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Restaurants | 73 | 23.8 | 15.4 |
| Residential remodelers | 31 | 10.1 | 3.9 |
| Landscaping companies | 31 | 10.1 | 3.4 |
Why do Gloucester restaurants use a second position?
A restaurant ready for a second dining room or a catering kitchen can take a second position rather than wait. There are 73 here, 8.1% of the city's employers.
How do local residential remodelers use a second position?
The second position gives a remodeling company room for a larger remodel contract while the first keeps running. Local count: 31, 2.6 times the national rate per resident.
What does a second position do for landscaping companies here?
Crews, fuel, plants and mowers took the first advance; a larger fleet ahead of the season can take the second. Gloucester has 31 of them, 10.1 per 10,000 residents (U.S.: 3.4).
What would a second position merchant cash advance cost a Gloucester restaurant?
A restaurant with $92,000 in monthly deposits pays $407 a day on a first advance. A second of $23,000 at 1.42 adds $259 a day; together, $666.
| Example item | Value |
|---|---|
| Monthly deposits (example) | $92,000 |
| First advance, daily debit | $407 |
| Second advance | $23,000 |
| Second advance factor rate | 1.42 |
| Second advance, daily debit | $259 |
| Combined daily debit | $666 |
| 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 withdrawal. The stacked payment calculator lets you test other amounts.
Free to apply. You never pay us a fee. We call back, usually the same business day.
Where does Gloucester sit within Essex County?
Of Essex County's 19,988 employers, 897 are in Gloucester. Among firms with 5 to 9 employees, the city has 186 and the county 3,740.
| Employees | Gloucester | Essex County |
|---|---|---|
| Under 5 | 525 | 11,119 |
| 5 to 9 | 186 | 3,740 |
| 10 to 19 | 91 | 2,412 |
| 20 to 49 | 61 | 1,717 |
How do I apply for a 2nd position MCA in Gloucester?
- Fill out the short application; mention the first contract's date.
- A broker calls to confirm how much room the bank deposits leave.
- You choose the offer whose combined withdrawal your deposits can carry, then sign.
Who should skip a second position merchant cash advance?
If revenue swings, revenue-based financing after the first advance ends can fit better. Skip it when the first withdrawal already takes a heavy share of deposits. Consolidating first, or waiting until the first advance is mostly paid back, leaves more room.
Which towns around Gloucester can apply?
From Gloucester, Beverly is 10 miles out. Within 50 miles, Lynn has the most employers: 1,811.
| City | Distance | Employers |
|---|---|---|
| Beverly, MA | 10 miles | 1,301 |
| Salem, MA | 14 miles | 1,174 |
| Peabody, MA | 16 miles | 1,542 |
| Lynn, MA | 18 miles | 1,811 |
Before a second advance, what do Gloucester owners check?
Is a 2nd position MCA shorter than the first advance?
Yes, in most quotes. Short terms keep the combined debit, $666 a day in the example, from running too long.
What does a 2nd position MCA cost?
In the example, $23,000 at a 1.42 factor, so the payback is $32,660.
Are restaurants in Gloucester eligible for a second position merchant cash advance?
Many are, because they run on daily card batches from the dining room. Funders still decide each file on deposits and time in business.
Ready to see numbers on a second position merchant cash advance for Gloucester?
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.