Second Position Merchant Cash Advance in Grand Rapids, MI
A Grand Rapids business partway through an advance can raise more with a second position, priced on what its deposits can carry after the first withdrawal. We shop the file for you.
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 is a second position advance set up?
A second position merchant cash advance is a new advance taken while a first one is still being repaid; in the example below, the first takes $398 a day and the second adds its own debit.
What does the review cover?
The first advance's balance and debit, statements since it funded, and whether its contract allows a second position. With a first withdrawal of $398 a day, room in deposits decides the size.
How much can the second advance add?
What the bank deposits can carry after the first debit. The example adds $31,500 for a business depositing $90,000 a month.
Where does a second position merchant cash advance fit in Grand Rapids' economy?
Restaurants lead the trades below with 283 locations in Grand Rapids, a city of 4,543 employer companies. The city's employers are mostly small: 2,155 have fewer than five employees.
| Trade | Businesses in Grand Rapids | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Restaurants | 283 | 14.1 | 15.4 |
| Bars and taverns | 58 | 2.9 | 1.2 |
| Clothing and accessories stores | 45 | 2.2 | 3.5 |
How do local restaurants use a second position?
Mid-term growth for a restaurant means a second dining room or a catering kitchen; a second position pays for it. Census data lists 283 in the city.
What does a second position solve for bars and taverns?
Second positions let a bar keep liquor, staff and upkeep covered and still fund a bigger bar area or added seating. Grand Rapids has 58 of them, 2.9 per 10,000 residents (U.S.: 1.2).
Is a second position right for clothing and accessories stores?
The case for a second advance: a pop-up shop or a larger holiday buy now, with seasonal inventory bought months ahead already funded. Local count: 45, 0.6 times the national rate per resident.
What would a restaurant pay for a second position merchant cash advance?
Here is a restaurant with $90,000 in monthly deposits and a first advance that takes $398 a day. Adding $31,500 in second position at 1.42 puts another $355 on each business day over six months, for a combined $753 a day: 18% of a typical day's deposits.
| Sample figure | Value |
|---|---|
| Monthly deposits (example) | $90,000 |
| First advance, daily debit | $398 |
| Second advance | $31,500 |
| Second advance factor rate | 1.42 |
| Second advance, daily debit | $355 |
| Combined daily debit | $753 |
| Percent of daily deposits | 18% |
What makes an offer cheaper?
Compare second-position quotes on total payback and on the combined daily debit. 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.
Which ZIP codes stand out for these trades?
ZIP 49503 has 1,717 employers, and its leading trade is restaurants with 121 locations.
| ZIP code | Employers | Leading trade | Its locations |
|---|---|---|---|
| 49503 | 1,717 | Restaurants | 121 |
| 49504 | 893 | Restaurants | 53 |
| 49506 | 744 | Restaurants | 53 |
| 49505 | 536 | Restaurants | 25 |
| 49507 | 468 | Restaurants | 24 |
What steps get a Grand Rapids file to second position funders?
- Fill out the short application; mention the first contract's date.
- 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.
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. If the first advance is nearly done, waiting for a new first-position advance can cost less.
Which towns around Grand Rapids can apply?
Closest on the list: Wyoming, 6 miles away.
| City | Distance | Employers |
|---|---|---|
| Wyoming, MI | 6 miles | 1,795 |
| Walker, MI | 6 miles | 519 |
| Kentwood, MI | 6 miles | 1,392 |
| Holland, MI | 26 miles | 321 |
What does a Grand Rapids business need to know about a second advance?
Does a second MCA affect my first advance?
No, as long as the first contract allows it and both debits clear. We read the first contract before shopping the file.
Does the first funder find out about a second MCA?
Your statements show the first debit, and the second funder reviews it. Some first contracts restrict additional advances, so we check yours before shopping the file.
Do Grand Rapids bars and taverns qualify for a second position merchant cash advance?
Yes. Grand Rapids has 58 bars and taverns, and any of them can apply; funding partners decide from deposits, time in business and open advances, and we show you every offer.
Shall we shop an added advance alongside the first for your Grand Rapids 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.