Already have an advance?
Business funding when you already have one MCA
An open merchant cash advance doesn't automatically rule you out. If deposits are steady and your current payment is covered, you may qualify for more working capital.
What underwriting looks at
Deposits
Average monthly deposits over the last three months, with transfers between your own accounts removed.
Current payment
How much of your monthly revenue the existing advance takes. The new offer is sized so both payments fit.
Account health
Average daily balance, NSFs and negative days, read month by month.
How far along you are
An advance that is well paid down usually leaves more room than one funded last week.
What to send
| Item | Why | Required? |
|---|---|---|
| Signed application | Business and owner details | Yes |
| Last 3 months of business bank statements | Deposits, balances and current payments | Yes |
| Current balance or payoff letter | Sizes the new offer accurately | Helpful |
| Month-to-date activity | Shows the latest month | Helpful |
Common questions
Can I get business funding if I already have a merchant cash advance?
Often, yes. Many businesses with one open advance qualify for additional working capital when deposits are steady and the current payment is comfortably covered. Underwriting looks at your bank statements, not just the fact that an advance exists.
What is a second position?
A second position is a new advance taken while one advance is still being repaid. The new offer is sized so both payments together fit what your account can carry.
What does underwriting check when I have an open advance?
Your average monthly deposits, how much of that revenue the current payment takes, daily balances, NSFs and negative days, how far along the current advance is, and time in business.
Do I need a payoff letter?
Not always. A current balance or payoff letter from your existing funder helps us size the offer accurately and can speed up the decision.
How fast can I be funded?
Funding typically lands 48–72 hours after approval. Terms usually run 3–12 months, with the rate set per file.
What if I have several advances open?
Files with more than one open advance are reviewed individually. Send the file and underwriting will tell you in writing what is possible.
Related: What is a merchant cash advance · Construction & contractor funding · Calculator · Funding answers
Questions? Email the desk.
Everything is handled in writing: hello@workablefunding.com.