Headway Capital Review

Company Profile 

Headway Capital is an online, non-bank provider of business loans to small businesses. It has been in operation since June of 2014. The company is part of Enova International (NYSE: ENVA), a major online lender that has serviced more than $15 billion in loans to more than 3 million people and businesses since 2004

Headway Capital’s business loans are provided in the form of a flexible line of credit, with no hidden fees. You can access the line anytime you need to, and for just about any purpose.

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Service Profile 

You can get a $35,000 on your Headway Capital Line of Credit, and access it only when you need it. As you make repayments, you replenish the line of credit for future borrowing. The company looks beyond credit and also considers the strength of your business in underwriting your loan.

Funds from your line of credit can be used for virtually any business purpose, including payroll, regular bills and expenses, marketing and advertising, hiring and training, and even purchasing equipment and inventory to grow your business.

Headway Capital has a score of 8.6 (on a scale of 0 to 10) by Trust Pilot. The company also has an A+ rating by the Better Business Bureau (BBB), which is “excellent”, and the highest rating issued (scale A+ to F). 

Loan Features 

  • Repayment terms 6 to 24 months*
  • $5,000 to $35,000 limit*
  • 40% - 100% APR*
  • Funds paid the next business day*
  • No prepayment penalties*
  • No teaser rates or hidden fees*


Loan Application Information 

You begin the process by completing a single page online application that will ask for your desired credit limit and the primary use of the funds, as well as general business information. You will then create an account password.

The business must be a minimum of one year old, and you must be authorized to take out a loan on behalf of your business. Generally, your business must have minimum annual revenue of $125,000.

Headway Capital is available in the following 19 states: Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Kansas, Kentucky, Louisiana, Massachusetts, Missouri, New Jersey, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, Washington, and Wisconsin.

Typical documentation required includes:

  • Business bank statements
  • Corporate income tax returns
  • Personal income tax returns
  • Profit and loss statements

Headway Capital doesn’t base their credit decision solely on your credit score, and there is no indication of a minimum credit score requirement. Instead, they take a “holistic” view of your financial situation, relying very heavily on your business income, as well as your credit history. They do pay close attention to the number of inquiries that are indicated on your credit report, seeing it as a sign of either identity fraud or great financial need.

Once your line of credit is in place, you can access the line anytime that you need to. The minimum draw amount is typically $5,000, but this can vary depending upon the state you live in. And with each draw, you can choose a repayment schedule that works best for you.

To protect your information during the application process, Headway Capital uses secure socket layer (SSL) encryption, McAfee SECURE and Verisign. 

Repayment Terms 

Draws on your line of credit are repaid through auto debits drawn on your business bank account. You have a choice to make those payments on either a weekly or monthly basis.

You will be given the option of repayment terms, or you will be given a predetermined repayment term. Payments will include principal.

There is a 2% draw fee on any draws you take on your line of credit. There are no annual or monthly service fees, however late fees will apply in the event that you miss a payment.

The interest rate charged on your line of credit will vary depending upon your credit and income. It is charged on a monthly basis, at a rate as low as 3.33% per month - which translates to an APR of 40%. On the upper end, the APR could be as high as 100%. 

Help & Support 

Headway Capital can be contacted by regular mail, by email, by fax, or by toll-free phone. Customer support is available Monday through Friday, from 8:30 am to 5 pm, Central Time.

There is also a comprehensive FAQ page that will provide you with most of the information you need, including how the Headway Capital financing process works. The company provides a blog filled with articles that will be helpful in running your business, as well as managing your finances. The company is also active on Facebook, Twitter, Google+ and Linked In.


Headway Capital offers a flexible line of credit that can be used for just about any purpose. There are no hidden fees, and you can access your line anytime you need to. It can be the perfect financing arrangement to even out the ups and downs in your business cash flow. 

Physical Address 

Headway Capital, LLC

175 W. Jackson Blvd.

Suite 1000

Chicago, IL 60604

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