Second Position Merchant Cash Advance in Concord, NC
A second position merchant cash advance adds funding for a Concord business that already has an advance. We take one application to funders that accept second positions and lay out their offers.
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.
How is a second position advance set up?
For a restaurant, the question is simple: after the first debit, do the day's deposits still cover a second one and the bills?
What do funders check?
Room in the deposits after the first debit, a clean payment record on the first advance, and permission in the first contract.
How much can the second advance add?
What the bank deposits can carry after the first withdrawal. The example adds $33,000 for a business depositing $95,000 a month.
Which trades in Concord benefit most?
Of the trades on this page, restaurants are the largest group in Concord, at 119 businesses out of 1,589 employers. The city's employers are mostly small: 786 have fewer than five employees.
| Trade | Businesses in Concord | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Restaurants | 119 | 10.4 | 15.4 |
| Clothing and accessories stores | 67 | 5.8 | 3.5 |
| Trucking companies | 33 | 2.9 | 3.3 |
Why do Concord restaurants use a second position?
Second positions let a restaurant keep weekly produce and protein orders plus staff wages covered and still fund a patio build-out or a second location. Concord counts 119 of them, 7.5% of local employers.
How does a second position fit clothing and accessories stores?
The second position gives a clothing store room for a pop-up shop or a larger holiday buy while the first keeps running. Census counts 67 in Concord; that's 5.8 per 10,000 people.
What does a second position solve for trucking companies?
A trucking company that took a first advance for fuel, repairs, insurance and driver pay doesn't have to wait to fund an added truck or a new lane. Concord has 33 of them, 2.9 per 10,000 residents (U.S.: 3.3).
How would the numbers look for a restaurant?
A restaurant bringing in $95,000 a month already pays its first funder $420 a day. Taking $33,000 in second position at 1.38 adds $361, for $781 a day combined until the first advance is done.
| 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% |
What makes an offer cheaper?
Steady deposits since the first advance funded and no missed withdrawals bring the factor rate down. 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.
What does the Cabarrus County business base look like?
Of Cabarrus County's 5,279 employers, 1,589 are in Concord. Among firms with 5 to 9 employees, the city has 265 and the county 906.
| Employees | Concord | Cabarrus County |
|---|---|---|
| Under 5 | 786 | 2,856 |
| 5 to 9 | 265 | 906 |
| 10 to 19 | 229 | 672 |
| 20 to 49 | 202 | 567 |
How do Concord owners get a second advance on top of the first?
- Fill out the short application with your current funder, balance and daily debit.
- We call to agree the amount before the file goes out.
- Offers come back from funders that take second positions, each with the combined daily debit shown.
When should you choose something else?
Skip it when the first withdrawal already takes a heavy share of bank deposits. Consolidating first, or waiting until the first advance is mostly paid back, leaves more room. If revenue swings, revenue-based financing after the first advance ends can fit better.
Do we take files from around Concord?
From Concord, Harrisburg is 6 miles out. Within 50 miles, Huntersville has the most employers: 1,341.
| City | Distance | Employers |
|---|---|---|
| Harrisburg, NC | 6 miles | 269 |
| Kannapolis, NC | 6 miles | 721 |
| Huntersville, NC | 13 miles | 1,341 |
| Mint Hill, NC | 15 miles | 853 |
What should I ask before signing a second MCA?
Who gets paid first on a second position MCA?
The first funder. That order is why second positions are priced higher.
Why does a second position MCA cost more?
The factor rate sits above first-position pricing; the example uses 1.38. The exact number depends on the room left after the first withdrawal.
What does a clothing store need to get a second position merchant cash advance?
Recent bank statements and a few minutes for the application. Concord's 67 clothing and accessories stores apply the same way as any other business.
Shall we shop a second advance on top of the first 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.