Second Position Merchant Cash Advance in Provo, UT
A second position merchant cash advance adds funding for a Provo business that already has an advance. We take one application to funders that accept second positions and lay out their quotes.
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How does a second position merchant cash advance work for a Provo business?
With a second position, a new funder advances cash behind an existing funder. Each collects its own withdrawal until its payback is complete.
What does a funder need to see?
Room in the deposits after the first debit, a clean payment record on the first advance, and permission in the first contract.
Which funders take second positions?
Only those that place behind an existing advance, and we send the file to them alone. They read the first funder's withdrawal, $389 a day in the example, next to your deposits.
Who in Provo uses a second position merchant cash advance?
Census counts show 1,448 employer companies in Provo; the table gives the local count and density for each trade discussed below. Of the city's employers, 117 have 20 to 49 people on payroll.
| Trade | Businesses in Provo | Per 10,000 residents | U.S. per 10,000 |
|---|---|---|---|
| Restaurants | 80 | 7.0 | 15.4 |
| Landscaping companies | 30 | 2.6 | 3.4 |
| Residential remodelers | 22 | 1.9 | 3.9 |
How do local restaurants use a second position?
A restaurant that took a first advance for food orders, payroll and kitchen repairs doesn't have to wait to fund an outdoor seating area or new kitchen line. Census data lists 80 in the city.
What does a second position solve for landscaping companies?
Mid-term growth for a landscaping company means a larger fleet ahead of the season; a second position pays for it. Locally, 30 operate, 0.8 times the U.S. rate.
Is a second position right for residential remodelers?
A remodeling company ready for a larger remodel contract can take a second position rather than wait. That trade has 22 locations here (1.9 per 10,000 residents).
What does a second position merchant cash advance cost in a real example?
Here a restaurant already paying $389 daily adds $31,000 in second position at 1.42, bringing its daily total to $738 on deposits of $88,000 a month.
| Worked example | Value |
|---|---|
| Monthly deposits (example) | $88,000 |
| First advance, daily debit | $389 |
| Second advance | $31,000 |
| Second advance factor rate | 1.42 |
| Second advance, daily debit | $349 |
| Combined daily debit | $738 |
| Percent of daily deposits | 18% |
What moves the price?
The combined $738 daily withdrawal in the example is what funders price against; more room after the first withdrawal means better terms. 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 big is Provo's share of Utah County?
Of Utah County's 17,568 employers, 1,448 are in Provo. Among firms with 5 to 9 employees, the city has 227 and the county 2,422.
| Employees | Provo | Utah County |
|---|---|---|
| Under 5 | 818 | 10,821 |
| 5 to 9 | 227 | 2,422 |
| 10 to 19 | 189 | 1,960 |
| 20 to 49 | 117 | 1,473 |
What steps get a Provo file to second position funders?
- Fill out the short application with your current funder, balance and daily withdrawal.
- We check the request against monthly bank deposits of $88,000 in the example.
- Sign and the second funder sends the money; the first advance continues as before.
What are the alternatives to a second position merchant cash advance?
If you need lower payments rather than more capital, consolidation is the better fit. If the first advance is nearly done, waiting for a new first-position advance can cost less.
Which 2nd position MCA questions do Provo owners ask first?
What if my first advance is paid off before the second?
The account then carries only the second debit, $349 a day in the example, until it's repaid.
Which funder is paid first when two advances run?
The first funder. That order is why second positions are priced higher.
Are landscaping companies in Provo eligible for a second position merchant cash advance?
Many are, because they run on payments from maintenance and install jobs. Funders still decide each file on bank deposits and time in business.
Looking at a second position merchant cash advance in Provo?
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.