Empowering Your Business: Headway Capital Business Loans

Loan Amount: $5,000 to $100,000
Minimum Credit Score: Not disclosed
Online Application: Yes

APPLY NOW

Pros & Cons

Pros

Quick Approval and Funding: Experience the convenience of approval and funding within just one business day.
Flexible Repayment Options: Choose between weekly or monthly payments, with terms spanning over 12, 18, or 24 months.
Positive Customer Reviews: Garnering excellent feedback from customers, indicating a high level of satisfaction.

Cons

Limited Availability: Not accessible in all states, limiting its reach.
Potential Draw Fees: Draws from the credit line might incur a 2% draw fee in specific states.
Undisclosed Rates: The platform does not provide information about interest rates.

Why We Chose It

Headway Capital emerges as a compelling choice among online business loan options, particularly suitable for newer businesses. The key qualifications include a minimum of six months in operation and an annual revenue of at least $50,000. Reasons behind our selection include:

Repayment Control: You enjoy a higher degree of control over your repayment plan, with the flexibility to choose between weekly or monthly payments and various term lengths, extending up to two years.
Customer Satisfaction: Impressive customer ratings attest to the positive experience of those who have engaged with Headway Capital.
Accessible Terms: The platform caters to the needs of businesses in their early stages by offering manageable terms.

However, it’s noteworthy that our internal research indicates average site usability, and there is no mobile app available.

Details

In case you opt for a draw while still repaying an existing balance, your loan undergoes re-amortization. The new repayment term includes the principal, interest, and fees of your recent draw.

Embark on a financial journey with Headway Capital, where swift approval, flexible repayment options, and positive customer reviews converge to support your business’s growth.

Founding and Establishment: Headway Capital was founded to provide accessible and flexible funding solutions for businesses. The exact founding year and details may vary, and I recommend checking the company’s official website or reliable sources for the most up-to-date information.

Business Model: Headway Capital operates as an online business lender, focusing on providing working capital solutions to businesses. Their model often involves lines of credit, allowing businesses to borrow up to a specified limit and repay based on their cash flow.

Eligibility and Criteria: Businesses typically need to meet certain criteria to qualify for a line of credit from Headway Capital. This may include a minimum period of operation, a minimum annual revenue, and other factors.

Loan Features: Headway Capital’s loans often come with features like a quick application process, approval and funding within a short period, and flexible repayment options. Businesses can choose to make weekly or monthly payments over different terms.

Draws and Repayment: When businesses draw from their credit line, they may be subject to fees, and the repayment terms can vary. It’s important for borrowers to understand the terms and conditions before using the credit facility.

Customer Reviews: Customer reviews and ratings can provide insights into the customer experience with Headway Capital. Many online lenders, including Headway Capital, often have customer reviews on various platforms, helping potential borrowers make informed decisions.

Evolution and Growth: Over time, online lenders like Headway Capital may evolve their offerings, terms, and features based on market demands and feedback from their customer base.