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  Headway Capital True Line of Credit

Headway Capital True Line of Credit

in Business Lines of Credit from Headway Capital LLC

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Headway Capital True Line of Credit

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in Business Lines of Credit from Headway Capital LLC

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Highlights
APR  (Fixed APR) Starting at 3.3%
Credit Score Range 620 - 850
Loan Amount $5,000 - $100,000

Headway Capital True Line of Credit Review

Headway Capital True Line of Credit is offered by Headway Capital LLC, a direct lender founded in 2014 and based in Chicago, IL. Headway Capital True Line of Credit is available in 36 states across the USA.

Headway Capital True Line of Credit FAQ

What APRs does Headway Capital True Line of Credit offer?

Headway Capital True Line of Credit offers a fixed APR product that ranges from 3.3% APR.

Does Headway Capital True Line of Credit charge an origination fee?

No, Headway Capital True Line of Credit does not charge an origination fee. An origination fee is what some lenders charge for processing, underwriting, and funding a business financing product. Typically fees range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.

What limitations does Headway Capital True Line of Credit set on the purpose of the line of credit?

Headway Capital True Line of Credit considers line of credit applications for business purposes, such as:

  • Business Debt Refinance
  • Equipment Purchase
  • Hiring
  • Inventory
  • Lease Improvement
  • New Location
  • Payroll
  • Product or Service Expansion
  • Technology Investment
  • Working capital

Does Headway Capital True Line of Credit charge a late fee?

No, Headway Capital True Line of Credit will not charge you a late fee.

Does Headway Capital True Line of Credit charge prepayment fees?

No, Headway Capital True Line of Credit does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit balance off early.

How much can you borrow from Headway Capital True Line of Credit?

Line of credit amounts start at $5,000 and go up to $100,000.

What is the maximum term you can get with Headway Capital True Line of Credit?

Headway Capital True Line of Credit offers business lines of credit with terms ranging from 12 to 24 months. Having the option of longer terms allows borrowers to take on larger line of credit amounts while keeping monthly payments more affordable. However, the longer the term of the amounts you borrow, the more interest you will pay.

What do you need to qualify for Headway Capital True Line of Credit?

Applicants with a credit score of at least 620 and up to 850 may be eligible for Headway Capital True Line of Credit. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

Headway Capital True Line of Credit does not have or does not disclose a minimum annual income eligibility requirement.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Headway Capital True Line of Credit. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Headway Capital True Line of Credit. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

  • Proof of income
  • Recent bank statements
  • Business formation documents
  • Proof of identity

What is the estimated funding time for the Headway Capital True Line of Credit?

Headway Capital True Line of Credit can approve (or deny) a line of credit application within 4 hours and fund business lines of credit within 1 business day of approval.

What are the business financing requirements for Headway Capital True Line of Credit?

To apply for Headway Capital True Line of Credit, the applicant needs to provide the following documentation:

  • Business license
  • Business bank account

Does Headway Capital True Line of Credit report your account activity to credit bureaus?

Headway Capital True Line of Credit does not report to any of the major credit bureaus. Creditors are not required to report payment activity to credit bureaus. However, making regular on-time payments to a creditor that reports to one or more credit bureaus may help improve your credit.

What types of business lines of credit does Headway Capital LLC offer?

Headway Capital LLC only offers unsecured lines of credit.

Headway Capital True Line of Credit Disclosure: Headway Capital charges a 2% draw fee for each draw. Maximum credit limit amounts may vary depending upon the state your business is located. Headway Capital will not perform a hard credit pull until after you have submitted the application and signed the contract. Headway Capital requires 3 months of recent bank statements. Funds are typically sent within one business day after approval. Credit limit ranges from $5,000 to $100,000. In MD and NC, credit limit ranges from $5,000 to $50,000. Headway Capital offers 12, 18 or 24 month terms. Funds will be available next business day if approved before 6:00 p.m. CT. If approved after 6:00 p.m. CT, funds will be available in two business days.
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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Headway Capital True Line of Credit

At Headway Capital, we appreciate the effort it takes for small businesses to reach their goals, and we understand that banks aren’t always a viable option for credit. Accessing capital should be easy and clear. We believe you can accomplish great things with the right support, and we’re proud to help hardworking business owners like yourself find continued success. That’s why we strive to be a partner you can trust.

Contact

Other Services by Headway Capital LLC

Availability

  Available in 36 states
  • Alabama
  • Arizona
  • California
  • Colorado
  • Delaware
  • Florida
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Minnesota
  • Mississippi
  • Missouri
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • Oklahoma
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Washington
  • Wisconsin
  • Wyoming

Feature Breakdown

Late Fee Amount $0
No Origination Fee
No Prepayment Fee
Business Financing Requirements
  • Business License
  • Business Bank Account
Credit Score Range 620 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Minimum Age 18
Minimum Months in Business 12
Minimum Revenue $50,000
Verification Documents Required
  • Proof of Income
  • Proof of Identity
  • Business Formation Documents
  • Recent Bank Statements
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Collateral Requirement Unsecured
Intended Use of Funds
  • Equipment Purchase
  • Lease Improvements
  • New Location
  • Product or Service Expansion
  • Working Capital
  • Business Debt Refinance
  • Inventory
  • Payroll
  • Hiring
  • Technology Investment
  • Other (All)
Minimum Draw Starting at $500
Approval Speed 4 hours
Credit Bureau Reporting None
Funding Time Range 1 - 2 days
Payment Frequency Monthly
Payment Options
  • Automatic Payments
  • Bank Transfer
APR (Fixed APR) Starting at 3.3%
Loan Amount $5,000 - $100,000
Loan Term 12 - 24 months

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