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Headway Capital

in Business Loans

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Headway Capital

Unaffiliated

in Business Loans

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Overview

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:

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

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.

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Contact

Message from Headway Capital

We offer a True Line of Credit where customers are only underwritten once and can then continue to make draws from their online account with the click of a button. Additional funds become available each time a payment is made which makes the product excellent for working capital needs. Term flexibility is also a large differentiator for us (monthly or weekly payment options with terms up to 24 months). Our application process is also very simple and quick -- customers can get funds in their accounts in as soon as 1 business day after approval.

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

No Prepayment Fee
Late Fee Amount
$0
Origination Fee
2%
Credit Score Range
595 - 850
850 300 595
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
  • Non-Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Months in Business
6
Minimum Revenue
$50,000
Verification Documents Required
  • Proof of Identity
  • Proof of Income
  • Recent Bank Statements
Loan Amount
$5 - $100
$25 $1+
Loan Term (Months)
12 - 24
1 360
APR
(Fixed APR)
18% - 120.66%
0% 100%+

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