Glossary
The earliest advance on a business's receivables.
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The earliest advance on a business's receivables.
The first-position funder is the first to be repaid out of the receivables. Later advances sit behind it.
Position affects which structures are available.
A business with one advance has that funder in first position.
Position is a matter of order and agreement terms. Disclose existing advances so the file can be read properly.
A reviewer asks who holds first position and whether the agreement restricts additional financing. A first-position holder with a clean payment history is a reassuring fact in a file, and its payoff figure is what any new funder will need if the business refinances.
First position does not mean the best or cheapest advance. It simply describes order, not quality.
Being first in line does not change your obligations, but it determines who must consent to additional financing. Knowing which agreement holds first position tells you who to call before taking another advance.
Yes. The first is first, and others follow.
See the related guides and the comparison pages, or apply and ask.
No. It is educational information, and agreements vary.
Educational information only. It is not legal, tax or accounting advice.
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