Second Position Merchant Cash Advance in Blaine, MN
A Blaine business partway through an advance can raise more with a second position, priced on what its bank deposits can carry after the first withdrawal. We shop the file for you.
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What is a second position merchant cash advance, and how is it repaid?
Nothing about the first advance changes: it keeps its withdrawal and term. The second funder sets its own amount, factor rate and schedule.
What does a funder need to see?
The first funder's contract terms, plus statements showing card sales that settle every day have held up since the first advance.
Which funders take second positions?
Only those that place behind an existing advance, and we send the file to them alone. They read the first funder's debit, $420 a day in the example, next to your deposits.
Which Blaine businesses is a second position merchant cash advance built for?
Restaurants are the biggest of these trades locally, with 99 of the city's 1,706 employer businesses. Of the city's employers, 51% have fewer than five on payroll, and 190 have 20 to 49.
| Trade | Businesses in Blaine | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Restaurants | 99 | 12.9 | 15.4 |
| Beauty and nail salons | 43 | 5.6 | 3.4 |
| Auto repair shops | 29 | 3.8 | 2.5 |
Why would restaurants pick a second position?
A restaurant ready for a patio build-out or a second location can take a second position rather than wait. Locally, 99 operate, 0.8 times the U.S. rate.
How do beauty and nail salons in Blaine use it?
When new stations or a remodel comes up before the payoff date, a salon can stack a second position. The city counts 43, at 1.6x the U.S. density.
How does a second position fit auto repair shops?
First advance spent on parts inventory and technician payroll? A repair shop can still fund more bays or a second location with a second position. There are 29 here, 1.7% of the city's employers.
What is the cost for a restaurant?
With monthly deposits of $95,000 and a first debit of $420, a restaurant adding a $24,000 second position at 1.42 would carry $691 a day in total for six months.
| Sample case | Value |
|---|---|
| Monthly deposits (example) | $95,000 |
| First advance, daily debit | $420 |
| Second advance | $24,000 |
| Second advance factor rate | 1.42 |
| Second advance, daily debit | $270 |
| Combined daily debit | $691 |
| Percent of daily deposits | 15% |
What earns better terms?
The combined $691 daily withdrawal in the example is what funding partners price against; more room after the first withdrawal means better terms. For your own numbers, use the stacked payment calculator.
Free to apply. You never pay us a fee. We call back, usually the same business day.
What does the Anoka County business base look like?
Of Anoka County's 8,438 employers, 1,706 are in Blaine. Among firms with 5 to 9 employees, the city has 314 and the county 1,373.
| Employees | Blaine | Anoka County |
|---|---|---|
| Under 5 | 866 | 4,720 |
| 5 to 9 | 314 | 1,373 |
| 10 to 19 | 237 | 1,066 |
| 20 to 49 | 190 | 824 |
What steps get a Blaine file to second position funders?
- Fill out the short application; mention the first contract's date.
- We read the first contract for any limits on a second position.
- Sign and the second funder sends the money; the first advance continues as before.
When does a second position merchant cash advance not fit?
If you need lower payments rather than more capital, consolidation is the better fit. If revenue swings, revenue-based financing after the first advance ends can fit better.
Do we take files from around Blaine?
Lino Lakes sits 5 miles from Blaine. Coon Rapids counts 1,309 employer companies, the most within 50 miles.
| City | Distance | Employers |
|---|---|---|
| Lino Lakes, MN | 5 miles | 559 |
| Coon Rapids, MN | 5 miles | 1,309 |
| Fridley, MN | 7 miles | 976 |
| Shoreview, MN | 7 miles | 539 |
What do Blaine, MN owners want to know about a second advance?
Is a 2nd position MCA shorter than the first advance?
Yes, in most offers. Short terms keep the combined debit, $691 a day in the example, from running too long.
What does a 2nd position MCA cost?
In the example, $24,000 at a 1.42 factor, so the payback is $34,080.
What does a salon need to get a second position merchant cash advance?
Recent bank statements and a few minutes for the application. Blaine's 43 beauty and nail salons apply the same way as any other business.
Want a broker to shop a second position merchant cash advance for your Blaine file?
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.