Second Position Merchant Cash Advance in Akron, OH
If your Akron business is partway through one advance and needs more, a second position merchant cash advance adds capital on top of it. One application reaches funding partners that accept second positions.
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 does a second position merchant cash advance involve?
A second position is an additional advance that sits behind one you already have. The first funder keeps its debit, and the second funder adds its own.
What do funders look at first?
How the first advance has been paid, how much of it's left, and what every day's deposits look like after its debit.
What does the first contract allow?
Some contracts limit added funding, so we read it before the file goes out. If it blocks a second position, consolidation is the next option to compare.
Which local businesses does it suit?
Here is how the trades on this page are represented among Akron's 3,536 employers. Of the city's employers, 400 have 20 to 49 people on payroll.
| Trade | Businesses in Akron | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Restaurants | 220 | 11.6 | 15.4 |
| Bars and taverns | 47 | 2.5 | 1.2 |
| Auto repair shops | 44 | 2.3 | 2.5 |
How does a second position fit restaurants?
Food orders, payroll and kitchen repairs took the first advance; a patio build-out or a second location can take the second. Akron counts 220 of them, 6.2% of local employers.
Why do Akron bars and taverns use a second position?
When an outdoor patio or a kitchen comes up before the payoff date, a bar can stack a second position. Census data lists 47 in the city.
How do local auto repair shops use a second position?
A repair shop that took a first advance for parts, tools and mechanic wages doesn't have to wait to fund an added bay or another mechanic. There are 44 here, 1.2% of the city's employers.
What does a worked example of a second position merchant cash advance look like?
Say a restaurant deposits $86,000 a month and already pays $380 a day on its first advance. A second position of $30,000 at a 1.42 factor rate adds $338 a day for six months. Until the first advance finishes, the account carries $718 a day, 18% of an average day's deposits.
| Worked example | Value |
|---|---|
| Monthly deposits (example) | $86,000 |
| First advance, daily debit | $380 |
| Second advance | $30,000 |
| Second advance factor rate | 1.42 |
| Second advance, daily debit | $338 |
| Combined daily debit | $718 |
| Debit as a share of daily deposits | 18% |
How do you compare offers?
The combined $718 daily debit in the example is what funding partners price against; more room after the first withdrawal means better terms. Run your figures in the stacked payment calculator.
Free to apply. You never pay us a fee. We call back, usually the same business day.
Which Akron ZIP codes have the most of these businesses?
ZIP 44310 has 470 employers, and its leading trade is restaurants with 27 locations.
| ZIP code | Employers | Leading trade | Its locations |
|---|---|---|---|
| 44310 | 470 | Restaurants | 27 |
| 44313 | 468 | Restaurants | 48 |
| 44306 | 370 | Restaurants | 18 |
| 44320 | 345 | Restaurants | 21 |
| 44308 | 326 | Restaurants | 18 |
| 44305 | 305 | Restaurants | 16 |
Where do Akron owners apply for a 2nd position MCA?
- Fill out the short application with your current funder, balance and daily debit.
- A broker calls to review the first contract and the bank deposits left after its debit.
- You pick the offer whose combined debit your deposits can carry, then sign.
When does a second position merchant cash advance not fit?
For a gap that repeats each month, a line of credit costs less than stacking advances. If revenue swings, revenue-based financing after the first advance ends can fit better.
Which cities within 50 miles of Akron do we serve?
Cuyahoga Falls sits 7 miles from Akron.
| City | Distance | Employers |
|---|---|---|
| Cuyahoga Falls, OH | 7 miles | 1,151 |
| Stow, OH | 8 miles | 767 |
| Green, OH | 9 miles | 923 |
| Hudson, OH | 12 miles | 701 |
What should Akron businesses know about second position MCAs?
Who gets paid first on a second position MCA?
The first funder. That order is why second positions are priced higher.
What happens to a second MCA when the first is paid off?
The account then carries only the second debit, $338 a day in the example, until it's repaid.
Do Akron bars and taverns qualify for a second position merchant cash advance?
Yes. Akron has 47 bars and taverns, and any of them can apply; funding partners decide from bank deposits, time in business and open advances, and we show you every offer.
Shall we compare quotes on a second position MCA for Akron?
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.