Second Position Merchant Cash Advance in Freeport, NY
A second position merchant cash advance adds funding for a Freeport business that already has an advance. We take one application to funders that accept second positions and lay out their quotes.
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 is a second position merchant cash advance, and how is it repaid?
The second position is a separate contract behind the first. In the worked example it adds $361 a day on top of the first withdrawal.
What does a funder need to see?
Mainly two things: what the first debit leaves in the account every day, and whether the first contract permits a second position.
What room does the first advance leave?
Funders subtract the first withdrawal from an average day's deposits. In the example, $420 already goes out each day before the second funder is paid.
Which trades in Freeport benefit most?
Of the trades on this page, restaurants are the largest group in Freeport, at 87 businesses out of 1,211 employers. That works out to 27.4 employer businesses per 1,000 residents; 70% of them have fewer than five on payroll.
| Trade | Businesses in Freeport | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Restaurants | 87 | 19.7 | 15.4 |
| Landscaping companies | 44 | 10.0 | 3.4 |
| Residential remodelers | 33 | 7.5 | 3.9 |
Why would restaurants pick a second position?
A restaurant ready for an outdoor seating area or new kitchen line can take a second position rather than wait. Local count: 87, 1.3 times the national rate per resident.
What does a second position do for landscaping companies here?
When another crew or truck before spring comes up before the payoff date, a landscaping company can stack a second position. Locally, 44 operate, 2.9 times the U.S. rate.
How do local residential remodelers use a second position?
First advance spent on crew payroll, rented equipment and materials? A remodeling company can still fund a larger remodel contract with a second position. The city counts 33, at 1.9x the U.S. density.
What does a worked example of a second position merchant cash advance look like?
Say a restaurant deposits $95,000 a month and already pays $420 a day on its first advance. A second position of $33,000 at a 1.38 factor rate adds $361 a day for six months. Until the first advance finishes, the account carries $781 a day, 17% of an average 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 |
| Debit as a share of daily deposits | 17% |
How do you compare offers?
A second funder is paid behind the first, so second positions are priced above first positions. The lower the combined debit is as a share of deposits, the better the offers. 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.
How do Freeport employers compare with the rest of Nassau County?
Measured per resident, Freeport has 27.4 employers per 1,000 people and Nassau County has 34.8. In raw numbers, that is 1,211 in the city out of 48,718 in the county.
| Employees | Freeport | Nassau County |
|---|---|---|
| Under 5 | 847 | 32,047 |
| 5 to 9 | 149 | 7,145 |
| 10 to 19 | 110 | 4,618 |
| 20 to 49 | 66 | 3,193 |
How do I get quotes on a second MCA in Freeport?
- Apply and attach statements that show the first withdrawal.
- We read the first contract for any limits on a second position.
- You compare second-position quotes and sign the one that fits.
When should you choose something else?
If the two withdrawals would take too much of an average day's deposits, a second position adds strain. In that case consolidation replaces the advances with one lower payment. If revenue swings, revenue-based financing after the first advance ends can fit better.
Which neighboring cities can apply?
From Freeport, Rockville Centre is 3 miles out. Within 50 miles, Garden City has the most employers: 1,626.
| City | Distance | Employers |
|---|---|---|
| Rockville Centre, NY | 3 miles | 1,064 |
| Hempstead, NY | 4 miles | 1,137 |
| Lynbrook, NY | 5 miles | 791 |
| Garden City, NY | 6 miles | 1,626 |
What should Freeport businesses know about second position MCAs?
What happens to a second MCA when the first is paid off?
The account then carries only the second withdrawal, $361 a day in the example, until it's paid back.
Which funder is paid first when two advances run?
The first funder. That order is why second positions are priced higher.
Can a remodeling company qualify for a second position merchant cash advance?
Yes. A remodeling company qualifies the same way as any business: funders read deposits, balance history and open advances, then make offers you can compare.
Want quotes on a second advance on top of the first for your Freeport firm?
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.