Second Position Merchant Cash Advance in Ann Arbor, MI
Mid-term on an advance and need more? A second position adds funding for Ann Arbor businesses; we shop the file to funders that accept them.
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How is a second position merchant cash advance structured?
Because the two payments run side by side, the review centers on what is left of an average day's bank deposits once the first funder is paid.
What will a funder ask for?
Room in the deposits after the first debit, a clean payment record on the first advance, and permission in the first contract.
How long do both debits overlap?
Until the first advance finishes. In the meantime, the account carries $718 a day, so the review checks that deposits cover it.
Who in Ann Arbor uses a second position merchant cash advance?
Among these trades, restaurants have the most locations in Ann Arbor: 193. That works out to 17.0 employer companies per 1,000 residents; 45% of them have fewer than five on payroll.
| Trade | Businesses in Ann Arbor | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Restaurants | 193 | 15.8 | 15.4 |
| Clothing and accessories stores | 57 | 4.7 | 3.5 |
| Beauty and nail salons | 35 | 2.9 | 3.4 |
How does a second position fit restaurants?
Food orders, payroll and kitchen repairs took the first advance; a second dining room or a catering kitchen can take the second. Census data lists 193 in the city.
How do clothing and accessories stores in Ann Arbor use it?
The second position gives a clothing store room for a pop-up shop or a larger holiday buy while the first keeps running. There are 57 here, 2.8% of the city's employers.
Why would beauty and nail salons pick a second position?
A salon ready for new stations or a remodel can take a second position rather than wait. The city counts 35, at 0.9x the U.S. density.
What is the cost for a restaurant?
Sized for a restaurant: monthly deposits $86,000, first debit $380, second advance $30,000 at 1.42, combined debit $718 a day.
| Worked example | Value |
|---|---|
| Monthly deposits (example) | $86,000 |
| First advance, daily debit | $380 |
| Second advance | $30,000 |
| Second advance factor rate | 1.42 |
| Second advance, daily debit | $338 |
| Combined daily debit | $718 |
| Share of an average day's deposits | 18% |
What sets the cost?
The combined $718 daily withdrawal in the example is what funding partners price against; more room after the first debit means better terms. 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 does Ann Arbor sit within Washtenaw County?
Measured per resident, Ann Arbor has 17.0 employers per 1,000 people and Washtenaw County has 22.5. In raw numbers, that is 2,072 in the city out of 8,322 in the county.
| Employees | Ann Arbor | Washtenaw County |
|---|---|---|
| Under 5 | 926 | 4,177 |
| 5 to 9 | 401 | 1,565 |
| 10 to 19 | 343 | 1,191 |
| 20 to 49 | 258 | 890 |
What does applying for a second MCA involve?
- List your current funder and balance on the form.
- A broker calls to confirm how much room the deposits leave.
- You compare quotes with the combined debit beside each one, $718 a day in the example.
Is a second position merchant cash advance ever the wrong tool?
If revenue swings, revenue-based financing after the first advance ends can fit better. 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.
Which nearby cities are covered?
Westland is the closest, 18 miles away. Livonia is the largest business market within 50 miles, with 3,410 employers.
| City | Distance | Employers |
|---|---|---|
| Westland, MI | 18 miles | 1,262 |
| Novi, MI | 19 miles | 2,325 |
| Romulus, MI | 19 miles | 704 |
| Livonia, MI | 20 miles | 3,410 |
What should Ann Arbor businesses know about second position MCAs?
Why does a second position MCA cost more?
The factor rate sits above first-position pricing; the example uses 1.42. The exact number depends on the room left after the first debit.
Does a 2nd position MCA take longer to fund?
A little, since funding partners read the first contract too. A complete file keeps that extra review short.
Are restaurants in Ann Arbor eligible for a second position merchant cash advance?
Many are, because they run on card sales that settle every day. Funders still decide each file on deposits and time in business.
Shall we compare offers on an added advance alongside the first for Ann Arbor?
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.