About Headway Capital

Headway Capital is a direct lender that is part of the Enova International Group, a publicly traded company that has serviced more than 5 million customers since 2004. The company was founded in 2014 and although it is primarily focused on its flexible and popular True Line of Credit™ product, the lender has evolved over the years to offer various financial solutions to help small businesses address their capital needs.

Headway Capital believes that accessing capital should be easy and clear. They offer a dedicated, US-based customer service team, have bank-level encryption for your privacy and security, deliver real-time decisions through cutting-edge analytics technology, and maintain a 4.7 out of 5-star Trustpilot rating.

Loan Programs

Headway Capital’s primary financing product is a business line of credit called True Line of Credit™ and that features longer payment terms, a flexible payment schedule, revolving credit, fast funding, and prepayment benefits.

Funds from Headway Capital can be used for any legitimate business purpose including making payroll, covering bills and expenses, marketing, hiring, purchasing equipment and inventory, working capital, and other eligible uses of proceeds.

True Line of Credit™ Highlights / Guidelines

• Receive funds in as fast as one business day
• Term loans from $5,000 to $100,000
• No collateral required
• Terms of 12, 18, or 24 months
• No annual or monthly service fee
• No penalty for early repayment
• Minimum of 6 months in business
• $50,000 minimum gross annual sales
• No set minimum credit score
• Monthly or weekly loan repayment and 24/7 funds access

Headway Capital finances most industries such as construction, technical services, finance, accounting, insurance, transportation, warehousing, real estate, retail, accommodation, food services, marketing, media, advertising, legal services, healthcare, social services, and more.

The Loan Process

Headway Capital offers a quick and easy online application that takes only a few minutes, asks the basics about your funding request, yourself and your business, and may prompt you to upload your most recent business bank statements. Headway Capital uses a soft credit pull at the time of application which will not impact your credit.

Once your application is complete, Headway Capital incorporates a variety of factors in its decision model to determine your eligibility and credit limit. Depending on the nature of your business, you may be asked to provide additional documentation.

Pros

• Headway Capital is a direct lender, maintains a 4.7 out of 5-star Trustpilot rating, and is part of the Enova International Group that has serviced more than 5 million customers since 2004.
• Applying for financing will not impact your credit and there is no set minimum credit score or collateral requirement.
• Fast and easy funding up to $100,000 is available, the loan application is simple, and funds can be delivered in as little as one business day.
• Headway Capital’s business line of credit product called the True Line of Credit™ features longer payment terms, a flexible payment schedule, revolving credit, fast funding, and prepayment benefits.
• Businesses in operation for greater than 6 months and that have greater than $50,000 in yearly gross revenue may be eligible for financing.
• Headway Capital offers a dedicated, US-based customer service team, has bank-level encryption for your privacy and security, and delivers real-time decisions through cutting-edge technology.

Cons

• Draws from your line of credit may be subject to a 2% draw fee depending upon your state, and you may be assessed a late fee for late payments.
• Although Headway Capital’s rates are lower than its competitors, they are higher than what you would expect to receive with an SBA or bank credit line if you were able to qualify.

Why Headway Capital is the Best

Headway Capital is a direct lender and offers a quick and easy online application that takes only a few minutes and uses a soft credit pull at the time of application which will not impact your credit. The lender’s unique True Line of Credit™ product features access to 24/7 financing up to $100,000, with longer payment terms, a flexible payment schedule, revolving credit, fast funding, and prepayment benefits. Headway Capital has no set credit score minimum and most businesses in operation for greater than 6 months and that have greater than $50,000 in gross yearly revenue may be eligible for financing.

Tags: 2024 Best Business Credit Line, Headway Capital