Second Position Merchant Cash Advance in Charleston, SC
Second position merchant cash advances let a Charleston business sell a second slice of future deposits while the first advance is still collecting. One application reaches the funding partners that do it.
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What does a second position merchant cash advance involve?
Think of it as a second advance stacked on the first. Both funding partners withdrawal the account, so a business already paying $226 a day takes on a second payment beside it.
How do funders decide?
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 debit. The example adds $18,000 for a business depositing $51,000 a month.
Which trades in Charleston benefit most?
Clothing and accessories stores lead the trades below with 168 locations in Charleston, a city of 5,696 employer companies. The city's employers are mostly small: 3,163 have fewer than five employees.
| Trade | Businesses in Charleston | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Clothing and accessories stores | 168 | 10.5 | 3.5 |
| Beauty and nail salons | 89 | 5.6 | 3.4 |
| Residential remodelers | 73 | 4.6 | 3.9 |
Is a second position right for 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. Charleston has 168 of them, 10.5 per 10,000 residents (U.S.: 3.5).
What does a second position do for beauty and nail salons here?
A salon that took a first advance for retail product, chairs and stylist pay doesn't have to wait to fund a renovated space or added spa rooms. Local count: 89, 1.6 times the national rate per resident.
How does a second position fit residential remodelers?
The second position gives a remodeling company room for a second crew or bigger contracts while the first keeps running. There are 73 here, 1.3% of the city's employers.
How would the numbers look for a clothing store?
Sized for a clothing store: monthly deposits $51,000, first debit $226, second advance $18,000 at 1.45, combined debit $433 a day.
| Sample figure | Value |
|---|---|
| Monthly deposits (example) | $51,000 |
| First advance, daily debit | $226 |
| Second advance | $18,000 |
| Second advance factor rate | 1.45 |
| Second advance, daily debit | $207 |
| Combined daily debit | $433 |
| Share of an average day's deposits | 18% |
What moves the price?
Steady deposits since the first advance funded and no missed withdrawals bring the factor rate down. 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.
Which Charleston ZIP codes have the most of these businesses?
ZIP 29407 has 1,732 employers, and its leading trade is restaurants with 118 locations.
| ZIP code | Employers | Leading trade | Its locations |
|---|---|---|---|
| 29407 | 1,732 | Restaurants | 118 |
| 29401 | 1,305 | Restaurants | 116 |
| 29412 | 1,088 | Restaurants | 88 |
| 29403 | 1,020 | Restaurants | 121 |
| 29492 | 972 | Physicians' offices | 49 |
How do I get quotes on a second MCA in Charleston?
- Fill out the short application with your current funder, balance and daily withdrawal.
- A broker calls to confirm how much room the deposits leave.
- Offers come back from funding partners that take second positions, each with the combined daily debit shown.
When does a second position merchant cash advance not fit?
If the first advance is nearly done, waiting for a new first-position advance can cost less. If revenue swings, revenue-based financing after the first advance ends can fit better.
Do we work with businesses near Charleston?
Mount Pleasant sits 6 miles from Charleston. North Charleston counts 4,291 employer businesses, the most within 50 miles.
| City | Distance | Employers |
|---|---|---|
| Mount Pleasant, SC | 6 miles | 3,117 |
| Hanahan, SC | 7 miles | 321 |
| North Charleston, SC | 8 miles | 4,291 |
| Goose Creek, SC | 12 miles | 539 |
What do Charleston, SC owners want to know about a second advance?
What does a 2nd position MCA cost?
In the example, $18,000 at a 1.45 factor, so the payback is $26,100.
Can I get 2nd position funding with weak credit?
Yes. Deposits and how the first advance has run matter more than the credit score.
What does a salon need to get a second position merchant cash advance?
Recent bank statements and a few minutes for the application. Charleston's 89 beauty and nail salons apply the same way as any other business.
Ready to compare offers on a second position MCA in Charleston?
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.