Last Updated: 04/18/2025
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Highlights
APR (Fixed APR)
Starting at 3.3%(Verified 06/21/2024)
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Credit Score Range
620 - 850
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Amount Range
$5,000 - $100,000
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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 states.
Headway Capital True Line of Credit FAQ
What APRs does Headway Capital True Line of Credit offer?
Headway Capital True Line of Credit offers an APR 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.
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.
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
- Bank account information
- 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 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 build your credit.
Does Headway Capital LLC perform a hard credit pull?
Yes, Headway Capital True Line of Credit performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.
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.
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