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Where does Headway Capital do business?
Headway Capital is a direct lender based in Chicago, IL. It was founded in 2014 and offers access to business loans in 36 states across the USA.
What are Headway Capital’s rates?
Headway Capital offers business loans with fixed APRs starting from 18% to 120.66%.
Does Headway Capital charge an origination fee?
Yes, Headway Capital charges a loan origination fee of 2% of the loan amount. Headway Capital deducts the fee directly from your loan amount before disbursing loan proceeds, so make sure you take this fee into account when deciding how much you need to borrow.
What limitations does Headway Capital set on the purpose of the loan?
Headway Capital considers loan applications for business purposes, such as:
What types of business loans does Headway Capital offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Headway Capital provides access to the following business loan types:
- Lines of Credit
Does Headway Capital charge a late fee?
No, Headway Capital will not charge you a late fee.
Does Headway Capital charge prepayment fees?
No, Headway Capital does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.
How much can you borrow from Headway Capital?Loan amounts start at $5,000 and go up to $100,000.
What is the maximum loan term you can get with Headway Capital?
Headway Capital offers business loans with terms ranging from 12 to 24 months. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.
What do you need to qualify for a loan with Headway Capital?
Applicants with a credit score of at least 595 can apply for a loan via Headway Capital. Headway Capital requires companies to be in business for at least 6 months. Businesses must have a minimum annual revenue of $50,000. Headway Capital only considers borrowers who are employed or self-employed. To qualify, applicants may need to provide the following documentation:
- Proof of Identity
- Proof of Income
What is the estimated funding time for a business loan via Headway Capital?
Headway Capital can approve (or deny) a loan application within 24 hours and fund business loans within 1 business day of approval.
Does Headway Capital report loan payments to credit bureaus?
Headway Capital does not report to any of the credit bureaus. Lenders are not required to report to the credit bureaus. However, making regular payments to a lender that reports to one or more credit bureaus may help you improve your credit score.
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- South Carolina
|No Prepayment Fee|
|Late Fee Amount||$0|
|Credit Score Range||
595 - 850
850 300 595
|Immigration Status Considered||
|Employment Statuses Considered||
|Minimum Months in Business||6|
|Verification Documents Required||
|Loan Amount||$5K - $100K|
|Loan Term (Months)||12 - 24|
|APR (Fixed APR)||18% - 120.66%|