Headway Capital is very distinct from other small business loan lenders because it offers exclusive lines of credit. This caters to a very specific group of business owners: those who need funding up to $100,000 and who plan to pay it back in a shorter amount of time.
Unlike other business loan companies, Headway Capital offers a weekly and monthly payment option as well as 12-, 18-, and 24-month term loans. Interest is accrued on a daily basis and the customer only pays interest on what they draw.
A benefit of Headway Capital that is quickly recognizable is the functionality of their website. The company's claim to having excellent technology and customer service seems verified by its website and how intuitive it is to use.
In addition to the functionality of its site, Headway Capital makes it known throughout the site that the company places a big focus on security. The company states on its website that it is McAfee and Norton certified and it protects your information with bank-level security and 128-bit encryption.
This focus is not something that's entirely common in the industry, though it should be. With Internet security being a bigger risk than ever, more companies should advertise their Internet security as Headway Capital does.
Headway Capital offers great benefits when it comes to the funding process. First of all, the lender advertises that it can disburse funding within one business day after the application has been approved. This is impeccable turnaround time and should be valued for being faster than most other companies in the industry.
The requirements to receive a line of credit from Headway Capital also seem flexible. A business only has to be in existence for one year before they can qualify for a line of credit. They also claim to take a holistic approach to evaluate applicants instead of simply looking at credit scores. This means that applicants without flawless credit can still qualify.
When approved, each applicant will be notified of the maximum amount of credit for which they qualify. Applicants are not required to take this full amount initially but will be able to come back for more funding (up to their maximum credit) if it is necessary. This flexibility is surely to be attractive to many prospective borrowers.
Headway Capital offers little information about its rates on its website. Prospective borrowers need to apply before they receive more details.
However, this is common within the industry since rates depend on factors such as credit score and time in business. It should also be noted that Headway Capital still provides much more information on its website compared to other lenders.
Headway Capital does not offer its funding services in all 50 states. The company only offers funding in these states: Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Idaho, Illinois, Iowa, Indiana, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, or Wyoming.
They were there when I needed them and provided a line of credit to keep me alive
Cancelled access to my line of credit, I won't recommend Headway Capital to anyone. I recommend only dealing with reputable financial institutions.
Reply from Headway Capital
May 05, 2020
Hi Terrell, we apologize for any inconvenience this has caused. To ensure we are making responsible lending decisions given the current circumstances around COVID-19, we have made adjustments to our process and are actively working on options to assist customers. A member of our team will be in touch with you soon. In the meantime, you can also call our dedicated Headway Capital Customer Service team at (866) 698-8494.
Headway Capital's review score is 2.2% lower than the average review score of the top recommended Business Loans Company
I think your company is all about money and not really helping a business! I requested a reduction in my interest because I never miss a payment but it was ignored. Now i a time of need when people are helping each other you cut businesses from getting more money and aren't offering any reprieve!!!!
Reply from Headway Capital
Mar 30, 2020
Hi Craig, thanks for taking the time to provide us feedback. We reached out to you privately asking for the best way to contact you so we can resolve your issue. You can also contact our dedicated Headway Capital Customer Service team at (866) 698-8494.
Draw. Pay Back. Draw Again. Repeat. You have $4,140.57 available — what's next? Hi Toni, Your line of credit is accessible 24/7. That means you can take another draw — or draws — whenever you need, up to your available credit limit. As you pay back the funds you've drawn through your weekly or monthly payments, that credit becomes available again for you to use. The previous was copied and pasted from an email they sent! LIES, DONT DO BUSINESS WITH THIS COMPANY!!!! Headway gave me a line of credit. They say “draw from it anytime”. So, when I tried to draw from my line of credit to pay for my work vehicle that is in the shop, they wouldn’t allow it because of what is going on now (virus). What is going on now is that I’m still trying to run my small business and trying to use a line of credit that was allotted to me, but now has been taken away without any notice what so ever. I would have never put my work vehicle in the shop if I would have known that headway capitol was going to revoke on there end. Even though I have 100% lived up to my end of the deal by paying on time the draws I have previously taken out. What a load of crap to screw the small business owner over like that in a time of need! Don’t say you’re going to have this amount of credit for me if you don’t! I won’t EVER use headway capital again! Buyer Beware!!!
Reply from Headway Capital
Mar 25, 2020
Hi Toni, we apologize for any inconvenience this has caused. To ensure we are making responsible lending decisions given the current circumstances around COVID-19, we have made adjustments to our process and are actively working on options to assist customers. A member of our team will be reaching out to you. In the meantime, you can also contact our dedicated Headway Capital Customer Service team at (866) 698-8494 for more information.
Dr. Alice R Berkowitz
Excellent Service. Zachary and Evan were both very professional. I am very pleased.
We've been using Headway capital for almost a year great place to do business with definitely love an increase in line of credit and continue a great relationship that we have John Jtllanddevelopment
The process was quite simple. Access to funds and knowing the costs are also easy and manageable.
Reply from Headway Capital
Nov 22, 2019
Thank you Mark, we love hearing we are quick and easy! That is exactly what we are here for.
Paul M Silva
love the website access to addition of credit line and service was phenomenal Dr S
They were very easy to deal with. They answered any questions and concerns. And they were timely with the distribution of funds.
loan sharks,dishonest,would use them ever again,very misleading
Reply from Headway Capital
Mar 09, 2020
Hi Ronald, We’re sorry to hear that you had a bad experience, and want to thank you for providing valuable feedback. Our dedicated Headway Capital Customer Service team will get in touch with you to better understand what happened. In the meantime, you can also call us at (866) 698-8494.
Didnt quite get what needed but did get most within days
Easy, no hassle process for getting approved. Easy to access and transfer from credit line to bank.
Ease of use, application process and account interface.
Quick and easy to help. Customer service was helpful and polite
Fast service, excellent customer service. No fine print
HoneeComb Natural Hair Salon
It was great and the funding was as promised. Very straight forward. Some details I would have liked to know before funding. I.e. when the first payment would be due and what date monthly payments would be set. Otherwise great service.
Easy to use and fast funding and a good safety net to have
The company fits your needs and is help full in a pinch to help you grow or make important purchases.
They have a very Convenient payment plans options,
Haven't had any issues. They are easy to set up and use so far.
The application was quick and easy. I would recommend to anyone.
Seem to be very good and easy to work with.
excellent services, really fast services
Great customer Service and good value for the product
Quick , responsive , good value , fair , trustworthy
Hardly no waiting time on a loan we needed pretty fast.
Great customer service fast and friendly
Very responsive and to the point with no jargon in between. I expect to be a long-term client seeing you came to my aid when I really needed the help
Extremely fast, easy to obtain credit! Looking forward to a great relationship to help my business.
Thank you for valuing my opinion I like head way capital am happy with the service I got keep the good job all the representatives are very helpful they know what they’re doing am really happy
It was a great experience. Specially when no where else would help us they were wonderful. They made it so easy and customer service was very helpful.
Barton and Sons Construction
They are there when I need them.! I needed capital to support my growth. Great customer service.
I appreciate the platform and easy transaction!
They we very fast responding to me, explained everything very clearly, and found my business capital when others couldn't.
Quick turn around .Money came through fast.
Quick and professional approval of loan.
The ease of use of the online system and the prompt attention.. Do not have any dislikes about this company . So far everything has gone perfectly
Headway is easy to work with. Their portal for drawing funds or paying back is simple to use. Their rep is available for any questions you may have.
Quick approval, quick funding and excellent customer service.
Page One Protection, LLC
Fast professional service. I am glad Headway Capital is giving my small business a head start! Thank you!
I love that it is so easy to receive funds and that there is no prepay penalties.
Fast and efficient and very easy to work with.
It was easy fast efficient They were professional, friendly really to answer any and all questions!
KENNETH Renay DAVIS
Responsive and no red tape or run around. I look forward to increasing my company LOC to $12,000 since wse now have expanded our foot print to 6 more states! Thanks, Kenneth R. Davis CEO Good Success Company, Inc.
Your phone representatives are very willing to help patiently.
Thank you for such a quick & professional experience. This was a very simple & quick process to get my Business funded. I've been in Business for 30 plus years & my own Bank is not even close to being this helpful. Look forward to doing more Business with you all in the future. Thank you Jeff
I was truly skeptical at the beginning. I didn't want to get involved into any scam or debt. However, Joe made things so easy to understand and he was straight forward from the very beginning. He guided us throughout every step of the process which only took 1 day (Friday) and by Monday, I had the money in my account. Truly recommend it to anyone!!!
The people are very helpful and knowledgeable. The customer service is Great. The funding process is quick and easy.
colonial towne ins. agy, llc
Easy to work with. Great service. I would recommend them to another Business associate.
I love having access online and having a credit line where I can use the money as needed has really help my business.