Second Position Merchant Cash Advance in Concord, NH
Already repaying an advance? A second position lets a Concord business add capital before the first is finished. We shop the file to funders that take second positions.
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How does a second position merchant cash advance work?
A second position merchant cash advance is a new advance taken while a first one is still being paid back; in the example below, the first takes $420 a day and the second adds its own debit.
What does the review cover?
The first advance's balance and withdrawal, statements since it funded, and whether its contract allows a second position. With a first debit of $420 a day, room in bank deposits decides the size.
How long do both debits overlap?
Until the first advance finishes. In the meantime, the account carries $781 a day, so the review checks that deposits cover it.
Which local businesses does it suit?
Restaurants are the biggest of these trades locally, with 94 of the city's 1,605 employer businesses. The city has 36.0 employers per 1,000 residents, against 27.8 across New Hampshire and 24.5 nationally.
| Trade | Businesses in Concord | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Restaurants | 94 | 21.1 | 15.4 |
| Beauty and nail salons | 29 | 6.5 | 3.4 |
| Clothing and accessories stores | 28 | 6.3 | 3.5 |
When do restaurants reach for a second position?
Growth for a restaurant looks like a second dining room or a catering kitchen. A second position pays for it mid-term. Local count: 94, 1.4 times the national rate per resident.
What does a second position solve for beauty and nail salons?
First advance spent on product inventory, station upgrades and rent? A salon can still fund new stations or a remodel with a second position. There are 29 here, 1.8% of the city's employers.
How does a second position fit clothing and accessories stores?
Mid-term growth for a clothing store means a second store or a bigger stockroom; a second position pays for it. Census counts 28 in Concord; that's 6.3 per 10,000 people.
What does a second position merchant cash advance cost in a real example?
Here is a restaurant with $95,000 in monthly deposits and a first advance that takes $420 a day. Adding $33,000 in second position at 1.38 puts another $361 on each business day over six months, for a combined $781 a day: 17% of a typical day's deposits.
| Worked example | Value |
|---|---|
| Monthly deposits (example) | $95,000 |
| First advance, daily debit | $420 |
| Second advance | $33,000 |
| Second advance factor rate | 1.38 |
| Second advance, daily debit | $361 |
| Combined daily debit | $781 |
| Portion of a typical day's deposits | 17% |
How can the price come down?
Second positions cost more than first positions because the second funder sits behind the first. Funders price from how much room your bank deposits leave after the first debit. Check other amounts with the stacked payment calculator.
Free to apply. You never pay us a fee. We call back, usually the same business day.
Where does Concord sit within Merrimack County?
The city accounts for 38% of employers in Merrimack County. By size, 323 city firms employ 5 to 9 people, compared with 824 across the county.
| Employees | Concord | Merrimack County |
|---|---|---|
| Under 5 | 716 | 2,142 |
| 5 to 9 | 323 | 824 |
| 10 to 19 | 266 | 598 |
| 20 to 49 | 191 | 429 |
How do I apply for a 2nd position MCA in Concord?
- Send the application and the details of your first advance, such as a debit of $420 a day.
- We call to go over the first contract and what the account can carry.
- Sign and the second funder sends the money; the first advance continues as before.
When is another option better?
If revenue swings, revenue-based financing after the first advance ends can fit better. If the goal is lower payments rather than new money, a second position works against you; consolidation is the better fit.
Which cities within 50 miles of Concord do we serve?
The nearest city on this list is Manchester, at 18 miles.
| City | Distance | Employers |
|---|---|---|
| Manchester, NH | 18 miles | 3,041 |
| Rochester, NH | 30 miles | 672 |
| Nashua, NH | 34 miles | 2,572 |
| Dover, NH | 34 miles | 902 |
What should I ask before signing a second MCA?
Can I get a second MCA with bad credit?
Yes. Deposits and how the first advance has run matter more than the credit score.
Who gets paid first on a second position MCA?
The first funder. That order is why second positions are priced higher.
Are restaurants in Concord eligible for a second position merchant cash advance?
Many are, because they run on nightly card and takeout sales. Funders still decide each file on deposits and time in business.
Shall we shop a second position MCA for your Concord 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.