Take Control of Your Credit

You don't need perfect credit to apply for our flexible line of credit.

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We’re currently accepting new customer applications. Applying will not impact your credit score.

Applying will not impact your credit score.1

*This business loan calculator assumes a monthly interest rate of 3.3% and a 2% draw fee. Your interest rate and credit limit may vary based on your application. No draw fee in CO, GA, IN, NJ and OK.

Business Credit

Also known as business credit score, business credit serves as financial ratings for businesses. Business credit scores are typically calculated from various traits, such as outstanding debts, length of credit history, payment history and more. Business credit is similar to personal credit in that it represents the ability to borrow money based on past actions. But all business owners should understand why it’s important to distinguish between the two. While personal credit is linked to your personal information (tied to your social security number), business credit is linked to your business (tied to your business identity with a separate tax I.D. number). Once you establish business credit, your personal credit history won’t impact your business credit, and vice versa. However, both histories may be determined relevant to a lender making a credit decision.

How to Establish Business Credit

There are four steps you can take to begin building business credit:


Incorporate or form an LLC (Limited Liability Company) to ensure your company is a legally recognized business entity


Obtain a federal Employer Identification Number


Open business bank accounts under your legal business name


Establish a business phone number for your business and make sure it's listed

Once you've completed the steps above, you can apply for credit in your company’s name. Your business transactions are then reported to Experian, which will create a business credit report that gives lenders and suppliers information about your company. This will therefore improve your ability to obtain business loans and secure more favorable credit terms.2

Can I Get a Business Loan Without Perfect Credit?

Having less-than-perfect business credit doesn’t necessarily preclude you from getting approved for a business loan. At Headway Capital, we take a holistic approach to reviewing an application, so factors other than a business owner’s personal and business credit score are just as important to determining creditworthiness.

What Does Headway Capital Offer?

Headway Capital offers a business line of credit of up to $100,000. Once approved, you can borrow as much as you need (up to your credit limit), as many times as you need to, without having to reapply. Accessing your line of credit is easy; all you have to do is log in to your online account and request a draw. As you repay, you replenish your available credit, so you can keep your business running at full strength at all times.

2Experian. (n.d.). How to Establish Business Credit. Retrieved May 2, 2017 from http://www.experian.com/small-business/establish-business-credit.jsp

1We always do a soft inquiry unless your credit file is restricted, in which case we would ask you to contact the credit bureau to lift the restriction. Doing so may result in a hard pull.