Headway Capital Business Loans Review

Headway Capital Business Loans is a business financing offering by Headway Capital LLC, based in Chicago, IL. Founded in 2014, Headway Capital LLC offers access to small business loans in 36 states across the USA.

What are Headway Capital Business Loans’s rates?

Headway Capital Business Loans offers a fixed APR business financing product that ranges from 40% APR up to 80% APR.

Does Headway Capital Business Loans charge an origination fee?

No, Headway Capital Business Loans does not charge a loan origination fee. A loan origination fee is what some lenders charge for processing, underwriting, and funding a business loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

What limitations does Headway Capital Business Loans set on the purpose of the business loan?

Headway Capital Business Loans considers business loan 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

What types of small business loans does Headway Capital Business Loans offer?

Not all small business loans are made equal. The type of business loan you choose will determine the range of interest rates and terms you receive. Headway Capital Business Loans provides access to the following business loan types:

• Secured Term Business Loans
• Lines of Credit

Does Headway Capital Business Loans charge a late fee?

No, Headway Capital Business Loans will not charge you a late fee.

Does Headway Capital Business Loans charge prepayment fees?

No, Headway Capital Business Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the business loan off early.

How much can you borrow from Headway Capital Business Loans?

Business loan amounts start at $5,000 and go up to $100,000.

What is the maximum business loan term you can get with Headway Capital Business Loans?

Headway Capital Business Loans offers small 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 Headway Capital Business Loans?

Headway Capital Business Loans requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $100,000 to be considered.

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 Business Loans. 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 Business Loans.

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

• Proof of income
• Recent bank statements
• Proof of identity

What is the estimated funding time for a business loan via Headway Capital Business Loans?

Headway Capital Business Loans can approve (or deny) a business loan application within 4 hours and fund small business loans within 1 business day of approval.

Does Headway Capital Business Loans report your account activity to credit bureaus?

Headway Capital Business Loans 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.