Second Position Merchant Cash Advance in Taylor, MI
Second position merchant cash advances let Taylor owners raise more capital while a first advance is still running. We send one file to the funding partners that take them and compare the quotes with 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.
What does a second position merchant cash advance involve?
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 $438 a day and the second adds its own debit.
What do funders check?
The first contract, the bank statements since it funded and what every day's deposits leave once that debit clears.
What room does the first advance leave?
Funders subtract the first debit from an average day's deposits. In the example, $438 already goes out each day before the second funder is paid.
Who in Taylor uses a second position merchant cash advance?
Among these trades, restaurants have the most locations in Taylor: 119. That works out to 22.2 employer companies per 1,000 residents; 46% of them have fewer than five on payroll.
| Trade | Businesses in Taylor | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Restaurants | 119 | 19.4 | 15.4 |
| Trucking companies | 50 | 8.2 | 3.3 |
| Clothing and accessories stores | 43 | 7.0 | 3.5 |
Is a second position right for restaurants?
A restaurant that took a first advance for weekly produce and protein orders plus staff wages doesn't have to wait to fund an outdoor seating area or new kitchen line. That trade has 119 locations here (19.4 per 10,000 residents).
What does a second position do for trucking companies here?
Growth for a trucking company looks like another truck or trailer. A second position pays for it mid-term. In the city, 50 operate, or 3.7% of employer companies.
How does a second position fit clothing and accessories stores?
First advance spent on seasonal inventory bought months ahead? A clothing store can still fund a pop-up shop or a larger holiday buy with a second position. Local count: 43, 2.0 times the national rate per resident.
How would the numbers look for a restaurant?
Here a restaurant already paying $438 daily adds $34,500 in second position at 1.42, bringing its daily total to $827 on deposits of $99,000 a month.
| Example item | Value |
|---|---|
| Monthly deposits (example) | $99,000 |
| First advance, daily debit | $438 |
| Second advance | $34,500 |
| Second advance factor rate | 1.42 |
| Second advance, daily debit | $389 |
| Combined daily debit | $827 |
| Percent of daily deposits | 18% |
What sets the cost?
Pricing follows risk: how much of every day's bank deposits the first funder already takes, and how the account has run since that advance funded. Try your own numbers 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 Wayne County business base look like?
Wayne County counts 33,699 employer businesses, and 4% of them operate in Taylor. The table compares the two by headcount band.
| Employees | Taylor | Wayne County |
|---|---|---|
| Under 5 | 624 | 18,238 |
| 5 to 9 | 261 | 5,923 |
| 10 to 19 | 218 | 4,254 |
| 20 to 49 | 166 | 3,163 |
What are the steps to get second position funding?
- List your current funder and balance on the form.
- A broker calls to review the first contract and the bank deposits left after its debit.
- Offers come back from funders that take second positions, each with the combined daily withdrawal shown.
What else should you consider?
If the goal is lower payments rather than new money, a second position works against you; consolidation is the better fit. For a gap that repeats each month, a line of credit costs less than stacking advances.
Do we take files from around Taylor?
The nearest city on this list is Southgate, at 3 miles. The biggest is Romulus, home to 704 employer companies.
| City | Distance | Employers |
|---|---|---|
| Southgate, MI | 3 miles | 615 |
| Allen Park, MI | 4 miles | 589 |
| Lincoln Park, MI | 5 miles | 551 |
| Romulus, MI | 5 miles | 704 |
What should I know before taking a 2nd position MCA?
How much are daily payments on a first and second MCA?
Add the two withdrawals together. In the worked example, the account carries $827 a day until the first advance ends.
How much can I get on a second MCA?
Funders size it from the deposits left after the first debit, so it's smaller than the first advance in most files.
What does a clothing store need to get a second position merchant cash advance?
Recent bank statements and a few minutes for the application. Taylor's 43 clothing and accessories stores apply the same way as any other business.
Need a second position merchant cash advance in Taylor?
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.