SuperMoney 
  Headway Capital True Line of Credit

Headway Capital True Line of Credit

in Business Loans from Headway Capital LLC

Claimed

Headway Capital True Line of Credit

Claimed

in Business Loans from Headway Capital LLC

Net Recommendation Score 0% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Rating not yet determined

In our efforts to provide the community with the most accurate information, recommendation rating is not determined until a sufficient number of SuperMoney users cast their vote
2 users recommend
0 users are unsure
2 users don't recommend
Cast your vote
Cast your vote

Would you recommend Headway Capital True Line of Credit to your friends?

Thanks for your vote!

Thanks for your vote!

You voted: May or may not recommend

Highlights
Highlights
Community Rating

Rating not yet determined

In our efforts to provide the community with the most accurate information, recommendation rating is not determined until a sufficient number of SuperMoney users cast their vote
Loan Amount $5,000 - $100,000
APR  (Fixed APR) 40% - 80%
Loan Term 12 - 24 months

Headway Capital True Line of Credit Review

Where does Headway Capital True Line of Credit do business?

Headway Capital True Line of Credit is a business financing offering by Headway Capital LLC, based in Chicago, IL. Founded in 2014, Headway Capital LLC offers access to business loans in 36 states across the USA.

What are Headway Capital True Line of Credit’s rates?

Headway Capital True Line of Credit offers a fixed APR business financing product that ranges from 40% APR up to 80% APR.

Does Headway Capital True Line of Credit charge an origination fee?

No, Headway Capital True Line of Credit does not charge a loan origination fee. However, it does charge a 2% draw fee. A draw fee is similar to an origination fee but is applicable instead for lines of credit.

What limitations does Headway Capital True Line of Credit set on the purpose of the loan?

Headway Capital True Line of Credit considers 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 business loans does Headway Capital True Line of Credit 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 True Line of Credit provides access to the following business loan types:

  • Lines of Credit

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 loan off early.

How much can you borrow from Headway Capital True Line of Credit?

Loan amounts start at $5,000 and go up to $100,000*.

What is the maximum loan term you can get with Headway Capital True Line of Credit?

Headway Capital True Line of Credit 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 Headway Capital True Line of Credit?

Headway Capital True Line of Credit requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $200,000 to be considered.

Applicants with a credit score of at least 620 and up to 850 are eligible for Headway Capital True Line of Credit.

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 are, of course, eligible for the services offered by Headway Capital True Line of Credit.

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

  • Proof of income
  • Proof of identity

What is the estimated funding time for a business loan via Headway Capital True Line of Credit?

Headway Capital True Line of Credit can approve (or deny) a loan application within 4 hours and fund business loans within 1 business day of approval*.

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 score.

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.
SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Contact

  • Headquarters
  •   175 W Jackson Blvd
    Suite 1000
    Chicago, IL 60604
  •   Visit Site

Message from Headway Capital LLC

At Headway Capital, we appreciate the effort it takes for small businesses to reach their goals, and we understand that banks aren’t always a viable option for credit. Accessing capital should be easy and clear. We believe you can accomplish great things with the right support, and we’re proud to help hardworking business owners like yourself find continued success. That’s why we strive to be a partner you can trust.

About Headway Capital True Line of Credit

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  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

Late Fee Amount $0
No Origination Fee  
No Prepayment Fee  
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Months in Business 12
Minimum Revenue $200,000
Verification Documents Required
  • Proof of Identity
  • Proof of Income
  • Recent Bank Statements
Funding Time Range (in days) 1 - 2
Approval Speed (Hours) 4
Credit Bureau Reporting
  • None
Pre-Approved Soft Credit Inquiry  
Loan Amount $5K - $100K
APR (Fixed APR) 40% - 80%
Loan Term 12 - 24 months

Headway Capital True Line of Credit Community Reviews

 

Would you recommend Headway Capital True Line of Credit to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
Cancel my vote
(will require moderator approval)

Other Business Loans

Fora Financial
Rating not yet determined In our efforts to provide the community with the most accurate information, recommendation rating is not determined until a sufficient number of SuperMoney users cast their vote

3 Reviews

OnDeck
Mostly recommended

13 Reviews