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Headway Capital business line of credit review

No-frills lines of credit up to $100,000 for almost any industry, but beware of high APRs.’s rating: 3.97 / 5.0


Bottom line: This lender offers simple lines of credit to most industries and credit types. While rates are high compared a bank, they’re competitive when it comes to options for bad-credit borrowers.


Min. Amount$5,000
Max. Amount$100,000
Loan Term12 to 24 months
APR40.03% to 72.24%
Requirements12+ months in business, $50,000+ annual revenue, operate in an eligible state


  • Accepts high-risk industries
  • No credit score minimum
  • No prepayment penalties
  • Checking rates won’t affect your credit


  • Advertises a misleading monthly interest rate
  • Charges 2% fee on withdrawals in most states
  • Weekly repayments
  • First-time draw minimums as high as $50,100

Headway Capital rates, fees and terms

Headway Capital's lines of credit run from $5,000 to $100,000. Each time you make a withdrawal, it turns into a short-term business loan with a repayment period of 12 to 24 months.

It charges a monthly interest rate of 3.33% to 6%, which translates to a 40.03% to 72.24% annual rate. Each time you make a withdrawal, Headway Capital charges a 2% fee in most states — which increases your APR depending on how often you use the credit line.

This line of credit also comes with a minimum first draw amount of $500 for most states, though it can get as high as $5,000 or even $50,100. Use our calculator to see how much this loan might cost you.

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How Headway Capital compares to other lenders

Here's how this online lender holds up to other providers that offer business lines of credit.

Headway Capital lines of credit

OnDeck short-term loans


Finder rating 4.2 / 5


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Loan amount

$5,000 – $100,000

Loan amount

$5,000 – $250,000


40.03% to 72.24%


As low as 35%

Loan Term

12 to 24 months

Loan Term

3 to 24 months


12+ months in business, $50,000+ annual revenue, operate in an eligible state


600+ personal credit score, 1 year in business, $100,000+ annual revenue, active business checking account

Headway Capital reviews and complaints

BBB accredited No
BBB rating A+
BBB customer reviews 1 out of 5 stars, based on 2 customer reviews
BBB customer complaints 5 customer complaints
Trustpilot Score 4.5 out of 5 stars, based on 739 customer reviews
Customer reviews verified as of 01 March 2021

Headway Capital only has a few negative reviews on its BBB page — borrowers mainly have problems with the high rates and payments. And while it receives good reviews on its Trustpilot page, the majority are from the last few months and vague, making it hard to judge how well Headway Capital works with its customers.

How to qualify

Headway Capital only has a few minimum eligibility requirements.

  • At least one year in business
  • Minimum annual revenue of $50,000
  • Located in District of Columbia or one of the 41 states it serves

While Headway Capital doesn’t have an explicit credit score cutoff, your personal and business credit scores still factor into the underwriting process. If your business has multiple owners, there’s a chance you’ll get more competitive rates if the owner with the highest credit score applies for the loan.

States Headway Capital serves

You can take out a business line of credit with Headway Capital as long as you don't live in one of the following states:

  • Arkansas
  • Connecticut
  • Michigan
  • Montana
  • Nevada
  • North Dakota
  • Rhode Island
  • South Dakota
  • Vermont

How the application works

You can get started on the application by filling out a form on Headway Capital's website. During the application, it typically asks to see at least three months of your business’s banks statements and might also ask for tax returns and profit and loss statements.

It only conducts a hard credit pull after you sign your loan documents. If this dramatically affects your rates, you’ll be asked to sign a new agreement. Typically, it takes one day to access your funds after you’re approved.

Once you’re approved for your line of credit, you can draw from it at any time. There’s a minimum amount the first time you make a withdrawal — usually $500 — but you can withdraw up your credit limit.

After you make a draw, your business can choose between making weekly or monthly repayments. Headway Capital doesn’t charge any prepayment penalties, so your business can save on interest by paying the loan off early.

What sets it apart

Headway Capital’s credit lines are simple and straightforward. Businesses that need access to a small amount of flexible funds to cover overhead expenses will benefit from this the most — its $100,000 maximum is a bit low for large or even midsize operations.

It provides fast funding for businesses — funds can hit your account as soon as the business day after they're requested. And if you have any questions, you can always reach out to its US-based customer service team.

Is it legit?

Yes, Headway Capital is a legitimate lender. It's a part of publicly traded company Enova Financial. And it's licensed to lend in states that require a license.

It's also highly transparent about the costs and terms available on its credit lines. Especially for a lender that specializes in businesses that typically struggle to qualify.

Compare more providers that offer business lines of credit. Or to learn more about the different types of financing with our guide to business loans.

Frequently asked questions

Answers to common questions business owners have about Headway Capital.

Is Headway Capital's application safe?

While no online form is 100% hacker-proof, Headway Capital uses SSL encryption and software by McAfee Secure and Verisign to protect any information you enter online. It also scans its site for malware daily.

Are there any restrictions to how my business uses the funds?

No, as long as it’s a legitimate business expense — like marketing, hiring employees or buying equipment or inventory.

Can I withdraw from my line of credit before I pay off my previous draw?

You can, as long as you have the available credit and your account is in good standing with Headway Capital. Your second draw is added to your current balance, which comes with adjusted repayments, rates and fees.

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We rate business loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.

Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.

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