Small business lender increases line of credit limit to $35,000 and offers new repayment period option of 24 months
CHICAGO, May 22, 2015 — Headway Capital, a provider of online flexible lines of credit for small businesses, today announced new funding and repayment offerings for its customers. The company increased its line of credit limit from $30,000 to $35,000 and introduced a 24-month repayment option.
“The increase in line amounts and added repayment offering will provide approved customers with more flexibility and choice when it comes to funding their business,” said Paul Cho, managing director. “Headway Capital customers can now choose to repay weekly or monthly over 12, 18 or 24 months. As always, once approved, customers can draw funds whenever they’d like, up to their approved loan amount.”
Headway Capital understands that business owners’ personal credit scores aren’t necessarily representative of the health of their small business. That’s why Headway Capital takes a holistic view of each business, evaluating applications differently than a bank would. Backed by Enova International, a technology and analytics driven online lender that has been providing loans to individuals for over 10 years, Headway Capital incorporates a variety of factors into its decision model to determine applicants’ eligibility and credit limit.
Plus, applying for funds with Headway Capital is simpler and quicker than working with a bank or storefront lender. Customers borrow through their online account and can draw money as often as they’d like, up to their available credit limit, with funding by the next business day. As soon as outstanding principal is repaid, that money becomes available for draw again.
About Headway Capital
Headway Capital lets small business owners take charge of their business with flexible lines of credit up to $35,000. Customers can draw credit when they need it, receive funds the next business day, and choose from multiple repayment options. Headway Capital is part of Enova International (NYSE: ENVA), a leading technology and analytics company that has been providing loans for over 10 years.