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Second Position Funding

What does “Second Position” mean? An existing business loan or cash advance featuring daily or weekly repayment is commonly considered a “position.” Second position funding occurs when a business has an outstanding balance and secures additional capital, without paying off the existing balance. Many capital providers consider some competitor balances (loans/ advances/credit lines) to be a “position,” whereas others do not. This is one of the many ways in which all capital providers are unique and one of the underwriting guidelines we’ve been able to identify across the board and use to our client’s advantage.

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Submission Requirements:

  • Crowne & Company application
  • Three, most recent business bank statements: (Please be sure to include all pages.)
  • Most Recent Corporate Tax Return

  • Product Details: Second Position Business Loan

    Max Funding Amount:

    $150,000

    Payment Frequency:

    Weekly, Daily

    Classification:

    Business Loan

    Prepayment Benefits:

    Yes

    Origination Fee:

    Inclusive

    Funding Time:

    24 - 48 hours

  • Minimum Qualifications

    FICO® Score:

    550

    Monthly Revenue:

    $25,000

    Time in Business:

    12 Months

  • Weekly base payment per $20,000. *

    6-Month Term:

    N/A

    12-Month Term:

    $477

    15-Month Term:

    N/A

    18-Month Term:

    $333

    24-Month Term:

    N/A

  • Weekly base payment per $100,000. *

    6-Month Term:

    N/A

    12-Month Term:

    $2,385

    15-Month Term:

    N/A

    18-Month Term:

    $1,667

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  • Product Details: Second Position Cash Advance

    Max Funding Amount:

    $500,000

    Payment Frequency:

    Daily

    Classification:

    Cash Advance

    Prepayment Benefits:

    No

    Origination Fee:

    1-3%

    Funding Time:

    24 hours

  • Minimum Qualifications

    FICO® Score:

    500

    Monthly Revenue:

    $20,000

    Time in Business:

    6 Months

  • Daily base payment per $20,000. *

    6-Month Term:

    $198

    12-Month Term:

    $100

    15-Month Term:

    N/A

    18-Month Term:

    N/A

    24-Month Term:

    N/A

  • Daily base payment per $100,000. *

    6-Month Term:

    $992

    12-Month Term:

    $496

    15-Month Term:

    N/A

    18-Month Term:

    N/A

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CROWNE & COMPANY. MIAMI BASED. NATIONAL REACH.

© 2017 Crowne & Company LLC.

Business Loans provided by third parties and subject to lender approval.