How to get a 2nd position merchant cash advance:
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- Highest offers on: 2nd positions
- The Longest Terms
- Quick approvals and funding
We specialize in these offers. We will help you structure your existing cash flow as well to insure your payments can safely be made. Apply below now to get your offer and funding quickly!
- Step 1: Review your business funding needs and cash flow. How much more can your business afford to repay per day and per week?
- Step 2: Determine the approval amount your maximum daily repayment equals. The average cash advance is 9 months or 189 days. If the maximum additional daily payment your business can afford is $100 per day then $100 X 189 = $18900.
- Step 3: Select the funders with the products that best match your businesses needs as well as credit and time in business.
- Step 4: Contact the best second position cash advance options. Discuss your business profile with the representative. Select the best matching program for your business and apply.
- Step 5: When approved look at the daily or weekly repayment and the mca loan contract. If you want to close, then provide all the required closing documentation and complete the transaction.
- Step 6: Complete the transaction and receive funds into your business checking account.
A 3rd position mca cash advance if your business can handle and needs more funds than a second position is available.
Frequently asked questions FAQ: On 2nd position merchant cash advances.
What is a 2nd position cash advance?
When a business takes out a cash advance while having an existing one they are paying on. The business will then have a 2nd advance that is in position behind their first one and make payments on two. The second company considers the existing payment into their decision for how much and long to approve another mca for you.
How can I get a second position for more money?
Show more cash flow through other checking accounts or financial statements. Proof that you will soon payoff other existing debt is another way. Your current first position cash advance may be paid off if the balance is low enough. This allows for even more money on top of the amount to payoff the 1st position.
Can I get a lower payment than I have now?
Ask for the lowest payment when applying so that the longest term offer will be made, and thereby lowest payment. Terms as long as 18 and up to 60 months are available to get the payment down the most.
How important is credit?
Credit is a minor part of the approval. The strength of company cash flow and ability to make the new payment are the most important qualifiers.