At a Glance
Rating Breakdown
Performance Overview
Scores out of 5, based on our editorial analysis
About Slate Advance
Founded in 2018 and headquartered in New York City, Slate Advance is a direct MCA funder that has built its entire business around second and third position (B and C position) merchant cash advances. The company has deployed over $120 million by focusing exclusively on the stacking segment of the MCA market. Factor rates range from 1.28 on cleaner second-position deals with strong daily deposits to 1.50 on third-position funding with tighter cash flow margins. Advance amounts span $5K to $250K, though the practical ceiling for most multi-position deals is $50K-$100K due to the limited remaining cash flow after existing MCA obligations. Repayment is daily ACH only, over 3-9 month terms, which is notably shorter than the 12-18 month terms available from first-position funders. Slate Advance's underwriting model is purpose-built for multi-position evaluation. Their team requires copies of all existing MCA contracts and calculates three key metrics: total existing daily ACH burden, the percentage of average daily deposits consumed by existing MCA payments, and how far through repayment each existing advance has progressed. Their internal threshold allows combined daily payments (all positions) up to 28-32% of average daily deposits, slightly more conservative than Alpha Capital Source's 30-35% tolerance. Where Slate differentiates from Alpha is in their transparency: every offer includes a clear breakdown showing the merchant's current daily payment, the proposed additional payment, and the combined total, so the merchant can see exactly how the stacking impacts their daily cash flow. Slate files subordinate UCC-1 liens, requires personal guarantees, and operates primarily through the ISO channel, paying broker commissions of 8-12 points. The company does not offer first-position advances; they are a pure B/C position specialist. Origination fees of 3-5% are deducted from proceeds, and there is no restructuring or deferral option. Slate solves a genuine problem for businesses locked into first-position advances that cannot refinance but need additional capital. Their second and third-position expertise means they understand stacking dynamics, can accurately assess whether a business can support additional daily payments, and are less likely to overextend a merchant than a generalist funder taking a stacking deal opportunistically. The 1.25-1.48 factor rates on subordinate positions are expensive, though, and the compounding daily payment burden of multiple MCAs is the single largest cause of MCA defaults in the industry. Only pursue multi-position funding through Slate when the capital has a specific, revenue-generating use that will produce returns exceeding the cost. Not for covering operating expenses or paying down other obligations.
Key Features
B & C Position Specialists
Slate Advance does not fund first-position deals at all; they are a pure second and third position specialist. This exclusive focus means their entire team, from sales to underwriting to collections, understands the specific dynamics of multi-position funding. They know which first-position funders are likely to cooperate during the stacking process, how to read bank statements that show existing ACH debits from other MCA companies, and how to size advances that are sustainable given the existing payment burden. This specialization is their competitive advantage over general funders that occasionally take multi-position deals.
Proprietary Stacking Models
Slate's underwriting calculates three key metrics: total existing daily ACH burden from all current MCA positions, the percentage of average daily deposits consumed by those payments, and the repayment progress on each existing advance. Their threshold allows combined daily payments up to 28-32% of average daily deposits. They also weight how far through repayment each existing advance has progressed: a merchant who is 75% through their first-position advance is a better risk than one who is 30% through, because the first-position payment will end sooner, freeing cash flow.
Fast Multi-Position Approvals
Despite the additional complexity of analyzing stacked obligations, Slate delivers approval decisions within 3-6 hours on most submissions. The speed comes from their team's daily familiarity with multi-position analysis: they do this all day, every day, so the evaluation process is systematized. The main bottleneck is obtaining copies of existing MCA contracts from the merchant or ISO. Once all contracts are in hand, the underwriting analysis moves quickly. Funding occurs within 24-48 hours of signed contracts.
Broker-First Channel
Slate Advance operates primarily through the ISO channel and pays 8-12 points in broker commissions. They have built a reputation as a reliable B/C position funder that ISOs can send deals to after the first-position funder has already been identified and funded. Many ISOs have a workflow where they fund the first position with a standard funder, then submit the same merchant to Slate for a second-position advance, earning commissions on both. Slate's broker portal accepts submissions with existing MCA contract documentation and provides status updates.
Transparent Position Analysis
Every Slate Advance offer includes a position analysis table showing: (1) current daily payment from each existing MCA position, (2) the proposed Slate daily payment, (3) the combined total daily payment, (4) average daily deposits, and (5) the percentage of daily deposits consumed by all MCA payments. This transparency allows the merchant to make an informed decision about whether the additional payment is sustainable. Very few funders provide this level of detail, and it is particularly valuable for merchants who may not fully understand how stacking impacts their daily cash flow.
How It Works
Submit with Position Details
Complete the application, provide 3 months of bank statements, and include copies of existing MCA contracts showing current balances and daily payments.
Multi-Position Analysis
Slate's underwriting team analyzes your total existing MCA obligations, daily payment burden, and remaining cash flow capacity.
Receive Position-Aware Offer
Get an offer showing the additional advance amount, factor rate, new daily payment, and the combined total daily payment across all positions.
Stack & Fund
Accept the offer, sign electronically, and receive the additional capital deposited to your account, typically within 24 to 48 hours.
What They Do
- Second Position MCA
- Third Position MCA
- Multi-Position Advances
- Revenue-Based Financing
Debt Types They Take On
- Second-Position Advance
- Third-Position Advance
- Merchant Cash Advance
- Stacked MCA
Fee & Cost Structure
Regulatory & Trust
Review Summary
Notable Case Studies
Clothing Retailer Inventory Purchase — $35K Second Position
A women's clothing boutique in Miami, FL had a first-position MCA with \$45K remaining and daily payments of \$310. Monthly deposits averaged \$52K. A wholesale supplier offered a one-time closeout deal on designer inventory at 40 cents on the dollar, but the \$35K purchase had to be completed within 48 hours. The retailer's operating account had \$6K available.
Food Truck Engine Replacement — $20K Third Position
A gourmet food truck operator in Los Angeles, CA had two existing MCAs: a first position at \$480/day with \$28K remaining, and a second position at \$320/day with \$15K remaining, totaling \$800/day in existing MCA payments. Average daily deposits were \$2,800. The truck's engine failed catastrophically and the replacement cost \$18K for the engine plus \$3K for labor. Without the truck, the business had zero revenue.
Pros & Cons
Pros
- Exclusive focus on B and C position funding means every aspect of Slate's operation is optimized for multi-position deals, from underwriting models that accurately assess stacking risk to sales teams that understand the specific needs of merchants with existing obligations.
- Proprietary stacking models that calculate combined payment burden and repayment progress on existing advances provide more sophisticated risk evaluation than funders that apply generic multi-position criteria.
- Transparent position analysis included with every offer shows exactly how the new advance affects daily cash flow, empowering merchants to make informed decisions rather than signing contracts without understanding the cumulative impact.
- Approval turnaround of 3-6 hours on multi-position deals is competitive, and the team's daily familiarity with stacking analysis eliminates the delays that occur when generalist underwriters encounter complex multi-position files.
- Broker commissions of 8-12 points on B/C position deals are competitive and attract ISO deal flow, meaning brokers are motivated to send stacking opportunities to Slate rather than letting them die.
Cons
- Factor rates of 1.28-1.50 produce effective APRs of 100-250%+ on short-term third-position deals, making this some of the most expensive capital available and only economically rational when the use of funds generates clear ROI exceeding the cost.
- Repayment terms of 3-9 months are shorter than first-position terms (12-18 months), which means higher daily payments relative to the advance amount and faster cash flow pressure.
- Stacking to 28-32% of daily deposits leaves very limited margin for revenue fluctuations; a 20% decline in daily sales can push the merchant into an unsustainable payment cycle with no restructuring option available.
- Slate does not fund first-position advances, so businesses without existing MCA obligations cannot use them, and businesses whose first-position funder offers a competitive renewal may be better served by renewing rather than stacking.
User Reviews (27)
frustrating
Wouldn't recommend Slate Advance. Rate they quoted me was different from the contract. $12K at 1.25 when I was told it'd be lower.
worst decision ever
Save yourself the headache, stay far away from Slate Advance. Desperate for website redesign money and they took advantage. $15K at 1.09. Now I'm in worse shape.
came through for me
My IT consulting firm needed website redesign money and the bank said no. Slate Advance said yes, $20K at 1.38. Ahmed walked me thru everything.
quick and easy
Needed $35,000 for seasonal inventory and they got it done.
not the best not the worst
Got $150K from Slate Advance. Factor rate 1.24 which is on the higher side. Funding was slower than promised.
regret it
They said funding in 24 hours but it took 4 days. Contract had fees I wasn't told about. $250K for my smoke shop.
would consider again
Worked out fine. $100K at 1.21. Nothing special but nothing bad either.
take it or leave it
Average MCA company. Nothing stood out. $10K for new equipment. Paid it off, moving on.
quick and easy
I was nervous about MCAs but Slate Advance was upfront about everything. $75K at 1.45, daily payments, total cost. No hidden stuff.
not the best not the worst
Three stars because it was exactly what I expected. Fast expensive money. $12K at 1.20.
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Related Companies
Important Merchant Cash Advance Disclaimers
- A merchant cash advance is not a loan. It is a purchase of future receivables at a discount. Factor rates, not APRs, are used to express the cost of capital. Effective APRs on merchant cash advances can range from 40% to over 350% depending on the term and factor rate.
- Repayment is typically collected daily or weekly via automatic ACH debits or a percentage of credit card sales. This means your repayment amount fluctuates with revenue but withdrawals occur every business day, which can strain cash flow during slow periods.
- Most MCA agreements require a personal guarantee from the business owner. In the event of default, the MCA provider may pursue the owner's personal assets, including bank accounts and property.
- MCA providers commonly file UCC-1 liens against your business assets. This lien may prevent you from obtaining additional financing until the advance is fully repaid and the lien is released.
- Merchant cash advances are not regulated by federal lending laws such as the Truth in Lending Act (TILA). State regulations vary widely, and some states have limited consumer protections for MCA products.
- Stacking multiple merchant cash advances (taking a second advance before the first is repaid) significantly increases the risk of default and can lead to aggressive collection actions including confessions of judgment in some jurisdictions.
- Zogby does not provide merchant cash advances or business financing. We are an independent comparison service. We do not fund advances, process applications, or guarantee approval on your behalf.
This page is informational, not financial or legal advice. Talk to a qualified professional before making any big money decisions.
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