Second Position Merchant Cash Advance in Golden Valley, MN
A second position merchant cash advance adds capital to a Golden Valley business already paying an advance, without waiting for the first to end. One application, several funding partners.
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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 goes into the funder's review?
How much of $100,000 in monthly deposits remains once the first funder is paid, and whether the account has stayed positive since the first advance.
How much can the second advance add?
What the bank deposits can carry after the first debit. The example adds $35,000 for a business depositing $100,000 a month.
Which Golden Valley trades does a second position merchant cash advance suit?
Restaurants lead the trades below with 47 locations in Golden Valley, a city of 1,120 employer businesses. Employer density is 52.5 per 1,000 residents here, compared with 24.5 for the country.
| Trade | Businesses in Golden Valley | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Restaurants | 47 | 22.0 | 15.4 |
| Residential remodelers | 25 | 11.7 | 3.9 |
| Beauty and nail salons | 17 | 8.0 | 3.4 |
When do restaurants reach for a second position?
Mid-term growth for a restaurant means an outdoor seating area or new kitchen line; a second position pays for it. Census data lists 47 in the city.
How do residential remodelers in Golden Valley use it?
A remodeling company that took a first advance for lumber, subcontractor bills and crew wages doesn't have to wait to fund a larger job or another crew. Golden Valley counts 25 of them, 2.2% of local employers.
Is a second position right for beauty and nail salons?
The second position gives a salon room for a renovated space or added spa rooms while the first keeps running. Census counts 17 in Golden Valley; that's 8.0 per 10,000 people.
What would a restaurant pay for a second position merchant cash advance?
Sized for a restaurant: monthly deposits $100,000, first debit $442, second advance $35,000 at 1.42, combined debit $837 a day.
| Example item | Value |
|---|---|
| Monthly deposits (example) | $100,000 |
| First advance, daily debit | $442 |
| Second advance | $35,000 |
| Second advance factor rate | 1.42 |
| Second advance, daily debit | $394 |
| Combined daily debit | $837 |
| Percent of daily deposits | 18% |
What sets the cost?
Second positions cost more than first positions because the second funder sits behind the first. Funders price from how much room your deposits leave after the first debit. Run your figures in the stacked payment calculator.
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How does Golden Valley compare with Hennepin County?
Golden Valley holds 1,120 of the 40,486 employer businesses in Hennepin County, 3% of the county total. The county has 31.5 employers per 1,000 residents; the city has 52.5.
| Employees | Golden Valley | Hennepin County |
|---|---|---|
| Under 5 | 587 | 21,479 |
| 5 to 9 | 178 | 6,312 |
| 10 to 19 | 138 | 5,193 |
| 20 to 49 | 126 | 4,299 |
What are the steps to get second position funding?
- Start the form and note the first advance's debit ($442 a day in the example).
- We call to go over the first contract and what the account can carry.
- Second-position funders send offers; you compare them and sign the one that fits.
Is a second position merchant cash advance ever the wrong tool?
If the first advance is nearly done, waiting for a new first-position advance can cost less. If the two withdrawals would take too much of an average day's bank deposits, a second position adds strain. In that case consolidation replaces the advances with one lower payment.
Which nearby cities do we also cover?
The nearest city on this list is St. Louis Park, at 3 miles. The biggest is Minneapolis, home to 12,444 employer companies.
| City | Distance | Employers |
|---|---|---|
| St. Louis Park, MN | 3 miles | 1,769 |
| Crystal, MN | 3 miles | 535 |
| New Hope, MN | 3 miles | 530 |
| Minneapolis, MN | 5 miles | 12,444 |
What do Golden Valley owners ask before a second advance?
How much are daily payments on a first and second MCA?
Add the two withdrawals together. In the worked example, the account carries $837 a day until the first advance ends.
What happens to a second MCA when the first is paid off?
The account then carries only the second debit, $394 a day in the example, until it's paid back.
Do Golden Valley restaurants qualify for a second position merchant cash advance?
Yes. Golden Valley has 47 restaurants, and any of them can apply; funding partners decide from deposits, time in business and open advances, and we show you every offer.
Want a broker to shop an added advance alongside the first for your Golden Valley 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.