Headway Capital Business Loans
At Headway Capital, we believe you can accomplish great things with the right support and are proud to help hardworking business owners like you accomplish your goals. We do this by offering a business line of credit with no hidden fees.
Business line of credit
12, 18 or 24 months
No Hidden Fees
See our Rates & Terms for details
Weekly or monthly
Clear payment terms, interest does not compound, no penalty for early payoff
How Our Business Loans Work
1. Apply in Minutes
Fill out our quick online application in minutes to check eligibility for a line of credit up to $100,000. We'll ask for information like your time in business, annual gross revenue and purpose for funds. We take a holistic view of your business and evaluate your application differently than a bank would.
2. Review & Accept Your Offer
If eligible, you'll receive an instant prequalified offer to review and select your desired repayment term and initial draw amount. Once you've signed the contract, you will be asked to supply three recent months of business bank statements for additional underwriting purposes.
3. Draw Funds
Once approved, the initial draw amount will be deposited into the business's bank account, and you can draw funds up to your available credit limit right away. Because your funds are revolving, that money becomes available to draw again as you repay your outstanding principal balance. Each time you draw additional funds, you will select a new repayment term, and your entire outstanding balance will be re-amortized so you're only paying interest on funds drawn.
Business Loan Qualifications
Different Types of Business Loans
Loans guaranteed by The Small Business Association often come with lower interest rates and longer-term repayment plans. In order to qualify for an SBA loan, your business must meet the eligibility requirements of both the SBA and the lender you're applying with.
An MCA typically provides rapid financing without requiring a strong business credit history. In exchange for a portion of your business's future credit card sales, the lender gives you a lump-sum deposit. You pay back the loan with daily or weekly payments taken out of your total credit card sales.
Term loans are what you usually think of when picturing a typical "loan." You receive a set amount of funds with a fixed interest rate from a lender, which you pay back over a set amount of time. Depending on the length of the repayment period, term loans are often categorized as short- or long-term.
You can use invoice factoring to turn yet-to-be-paid invoices into liquid cash. You sell any unpaid invoices to a factoring company, and you get a cash advance of that total amount. The factoring company recoups that amount, plus interest fees, when your customers pay those outstanding bills.
A line of credit typically provides revolving access to credit. The main advantage is that you only have to apply once for funds. For example, with Headway Capital's True Line of Credit™, you can draw funds whenever you need, up to your credit limit, and only pay interest on what you borrow each time.
Common Questions About Headway Capital Business Loans
How will my application be evaluated?
We understand that your credit score isn't necessarily representative of the health of your small business. That's why we take a holistic view of your business, evaluating your application differently than a bank would. We incorporate a variety of factors into our decision model to determine your eligibility and credit limit.
What are the rates and terms?
The interest rate and credit limit you are awarded may vary based on the information provided in your application. Interest does not compound and there is no annual or monthly service fee. You can repay your outstanding balance at any time without incurring any additional fee. Check out our Rates & Terms for all the details.
How Can You Use a Small Business Loan?
Stock up on products before your business's busy season or order discounted bulk purchases.
Use a small business loan to maintain cash flow, helping to keep your business running smoothly.
Cover the cost of repairs or fund the purchase of vital machinery.
If business picks up and you're short-staffed, use your working capital to bring on part-time workers.
Draw on additional capital for funding marketing campaigns that will boost business.
Business Loans by Industry
Headway Capital provides small business loans to a wide variety of businesses. Some of the most common industries we serve include:
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.