Headway Capital True Line of Credit

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 are 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 starts at 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?

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 and permanent resident / green card holders are eligible to apply for the services offered by Headway Capital True Line of Credit.

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.