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Headway Capital

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203 User Reviews

7.5

Overall Score

Headway Capital is a brand of Enova International, a publicly-traded company located in Chicago, Illinois. As a whole, Enova has served over five million customers and issued more than $25 billion in loans.
 
Headway Capital has been loaning money to small businesses in select states since 2014. The company specializes in offering lines of credit to small businesses who need cash flow to keep their businesses running. If approved, borrowers typically receive funds next business day or sooner, and 12-, 18-, and 24-month loan terms are available. Longer terms will result in lower monthly payments.
 
Businesses can draw money at any time, up to their available credit limit, and as outstanding principal is repaid, that money becomes available to draw again. Loans function on accrued daily simple interest, so borrowers only pay for what they use. 
 
Consumers that choose a Headway Capital business line of credit should remember that they must have a credit score of 600 or higher, at least a year in business, the last three months of business bank statements, and ideally $100,000 in annual gross revenue to be eligible.

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The Good

  • Funding Options
  • Functionality 
  • Great Security
  • Funding Process
  • Quick Approval

Funding Options

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.

Functionality

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.

Security

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. 

Funding Process

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.

Approval

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.

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The Bad

  • Unanswered Questions
  • Not Available Nationwide

Unanswered Questions

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.

Not Available Nationwide

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.

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The Bottom Line

The bottom line about Headway Capital is that it's a great option for a specific group of businesses. The company offers flexible loan terms and loan amounts up to $100,000. From small to large loan amounts, Headway Capital is a great option as a lender because of its focus on transparency, technology, customer service, and security.

Of course, prospective borrowers will need to apply before they can find out the exact line of credit they qualify for and the subsequent interest rates. If you want to learn more about the customer experience, you can find Headway Capital reviews below. 

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Star Rating

4.6

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203 Reviews

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4 grade

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3 grade

2%

2 grade

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1 grade

5%

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Lou Madigan New York, NY

It's a good service for a small business like mine. Draws and repayment are smooth and easy. The interest rates are high. I would use this access to capital if the interest rate was lower.

1 month ago

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Diana A

This transaction was one of the easiest and painless interactions I have ever encountered in my life! From the very first phone call with customer service to the end result of funding.. No hassle no fuss and transparent from the get go!

1 year ago

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Beatriz Rodriguez

Staff was Great , easy to work with , trustworthy very reliable, very helpful and knowledgeable and the have the customers best interests always.. I really appreciate their time and help. I would definitely recommend them to anyone and everyone looking for some financial help and guidance

1 year ago

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Seth S.

Very simple and fast process! They asked for 2 months bank statements and that was it. The initial loan offer was honored and the money directly deposited within a couple of days. Yes the interest rate is high but the flexibility of repayment terms sealed the deal. Highly recommend!

1 year ago

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Reply from Headway Capital

Thanks for this level of feedback! And glad we were a fit for your business!

Sep. 26th, 2019

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Lachandrea kraus Blomkest, MN

Very easy to work with, had funds available with in days. The customer service was amazing. When I needed start up funds for my business they were one of the first to help. Easy application process. I would refer them to everyone. It is super easy to deal with love headway

2 years ago

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Reply from Headway Capital

Thanks so much for the fantastic review! We look forward to working with you!

Jul. 8th, 2019

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Christina

A bank''s line of credit only requires you to pay the interest monthly while this is paid off like a loan. You can continue to draw from it which is great and this was far easier to get than with a bank. They also allowed me to borrow a larger amount.

1 year ago

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Reply from Headway Capital

Thank you for your detailed review. We appreciate your business!

Sep. 26th, 2019

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Rodney Sculthorpe

No surprises! That's important...the application process was straight forward, and everything happened as it wad explained, no changes after the fact.

1 year ago

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Jason Fowler

They were prompt and legit. Everything I was explained was truth. Pete did a great job with being honest and getting me what I was looking for. Thanks

1 year ago

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Reply from Headway Capital

Thanks for the review and I will be share to share your feedback with our team!

Oct. 15th, 2019

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D'Marcus K.

the process was fast , easy and the interest rate was great . I was very happy with the rate could've been a higher amount but there's always next time .

1 year ago

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Reply from Headway Capital

Thanks for the feedback and nice review! We will be here if you need us again in the future!

Oct. 4th, 2019

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Dianne

I recieved the approval for the loan on August 21, 2019 and made a $1500 draw the same day. I still have yet to recieve the deposit due to bank acdcount was invalid. It's been weeks for them to research with no findings. First transaction and i am not pleased. Glad i did not NEED the money right away or i would have been in trouble.

1 year ago

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Jeff Eden Prairie, MN

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

1 year ago

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L.S. Yonkers, NY

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!!!

1 year ago

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Mark Rojas Haledon, NJ

Friendly fast and did a good job getting my small business financing. I like that they are thinking about the future too. Gave me ideas on how to keep growing and then be able to get even more financing in the future. They want to keep working with you to help you grow. Good job treating your customer right. Definitely consider working with them for your financing needs.

1 year ago

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Dan Peterman Boise, ID

Headway Capital has made it possible for me to not only make payroll during a long, drawn out project, but they provided enough funds for us to meet some equipment upgrade goals. Communication and customer service has been ongoing, consistent, and immediate. Currently, we are very excited about our relationship with Headway and the revolving account that is there for us when we need it.

1 year ago

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David Gill Morrisonville, IL

amazing company its been a struggle as a business owner to get financing for it Was told 2 years ago that it was almost impossible to get credit for a business in the first 7 years Here i am 3 years in business and am building the business a credit profile and headway capital is one of the first company's to make this happen Thank you headway capital Bergschnieder Landscaping

1 year ago

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Heryn Donald

I wanted to reorganize my debt in order to make some large business purchases. Headway got me approved right away for a line of credit and had the money in my account before I knew it. Everyone I spoke to was friendly and knowledgeable. I consider Headway a great resource for a small business like mine that can use quick, hassle-free funding. I will be using Headway Capital again in the future and I recommend them highly.

1 year ago

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Reply from Headway Capital

Thanks for this nice review! We appreciate your business and will be here when you need us in the future!

Sep. 13th, 2019

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April Haupt

They were very easy to deal with. They answered any questions and concerns. And they were timely with the distribution of funds.

1 year ago

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Troy Jefferson Overland Park, KS

They we very fast responding to me, explained everything very clearly, and found my business capital when others couldn't.

1 year ago

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Barbara Pickert Tarrytown, NY

Efficient, quick and responsive, made the process easy, customer service was great in helping me with website and good instructions too.

1 year ago

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David Gomez

First Payment was deducted about 19 days after the line of credit money was deposited, and the second one was deducted 28 days after the second one, they supposed to deduct every month...

1 year ago

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Janes Garst

Fast and friendly service and easy to understand. Very clear up front on what is needed and once provided they are matching you up with a lender.

1 year ago

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Nick Dodge Lafayette, LA

Not a scam! Finally a company that can deliver fast and with a reasonable competitive rate. I would reccomend and use them again.

1 year ago

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Tajala Aziz

Good product and good price.. time was good on product turnaround time. Fast and easy application. Smooth transition. Great company t

1 year ago

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Sylvia

Fast and easy to work with. The service rep was there every step of the way, ready to assist you. Very happy with this Company.

1 year ago

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Reply from Headway Capital

Glad to hear you had a good experience! Thank you!

Oct. 4th, 2019

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Anne Marie Hull Waterford, PA

Headway Capital is there as a safety net for our business. Dealing with Health Insurance sometimes can be a nightmare and Headway Capital is there if the insurance delays payments to us. Headway Capital was there when we had the government shutdown and government money was held back. Thank you Headway Capital for being a big brother to a little sister of a small business.

1 year ago

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Kevin Roberts Hilton Head Island, SC

Very impressed with this company! The process was smooth and they reach out to me often to see if I have any questions, etc... I would definitely recommend them to anyone of my friends, especially those in a small business looking for a line of credit.

1 year ago

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Reply from Headway Capital

We're glad to hear this, Kevin! Thank you for your feedback.

Dec. 6th, 2019

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Eunice Bejar-Lee Daly City, CA

Thank you Headway Capital. From the get go, you showed professionalism and care to small businesses from loan processing, communicating progress, reassuring and reassessing needs to have the funds needed. We are grateful to your services.

1 year ago

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Reply from Headway Capital

We're very happy to hear this, Eunice! Thank you for your detailed feedback.

Dec. 6th, 2019

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Jeremy White Plains, KY

I needed a line of credit to help bridge the gap between equipment purchase and invoice payments. Headway was able to go off of my small business history and use information supplied to them, instead of using my personal credit score and get my business a line of credit that truly filled the need. They have really helped when I needed it.

1 year ago

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Reply from Headway Capital

We're glad we were able to deliver on your business capital needs Jeremy! Thanks you for taking the time to provide us detailed feedback.

Nov. 20th, 2019

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John Roper Montevallo, AL

Good fast service. David and Tina really helped me tru the process rapidly. I would like to say I am very happy and their services is great. I know we will have a long time relationship with Headway. I would recommend them to anyone who is looking for their services.

1 year ago

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Reply from Headway Capital

We appreciate your business and this nice review! I will share with your service team!

Sep. 26th, 2019

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Brad S. Spring Hill, TN

The entire process was effortless and smooth as glass. I was able to setup an account and be approved in just one day. Once I made my first withdrawal it was in my bank the next day. My Account Manager was thorough and kind with me every step of the way. I will recommend Headway to all my business friends.

1 year ago

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Reply from Headway Capital

Thanks for the kind words! We will be here whenever you need us again in the future!

Sep. 20th, 2019

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Verlissa Schrepfer Wheaton, IL

Good company.. just didn't receive full information initially.. due dates, auto payments, password info to access account but got resolved

1 year ago

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Dariush Shafagh

I initiated a draw on 12/30/19 and it will not be available until 01/07/20. Yet I am being charged interest during this time. Plus I expected the funds much sooner. I though it was two business days. I am a very unhappy customer.

1 year ago

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Carl P.

They did everything they said they would do and for a company these days to keep their promises is Important.

1 year ago

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Reply from Headway Capital

Wow, thanks for this nice review!!! We are appreciative of your business!

Oct. 15th, 2019

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Russ

Easy set up, approval and access; but it does take 3 or more days for your payment to post to your account. You cannot draw money until your current payment has posted.

1 year ago

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Reply from Headway Capital

Hi Russ, yes there is delay between payment posting and accessing more funds. We are working on improved notifications to ensure our customers are aware of this and can plan their draw schedule effectively. We appreciate this feedback!

Oct. 15th, 2019

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Tina Cagle

Fast and true to wait they say, We asked for what we needed and they made every effort to make sure they got close to wait was needed.

1 year ago

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Reply from Headway Capital

Tina, glad to hear you had a smooth experience!!

Oct. 15th, 2019

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Josh England

Fast and easy financing. Hunter was very detailed in explaining my options that best fit my business.

1 year ago

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Reply from Headway Capital

Thanks for the feedback. I will be sure to share with Hunter and the team!

Sep. 26th, 2019

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Frederick Svede

Good service, quick funding. When you need a little capital in a hurry, it's a nice option to have .

1 year ago

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Reply from Headway Capital

Glad to hear everything went smoothly! Thanks for the review!

Sep. 26th, 2019

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Patricia Peightal

Quick approval and terms that work well for a small business with cash flow that fluctuates from month to month.

2 years ago

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Reply from Headway Capital

Patricia - We are happy to read that our line of credit is helping your business!

Jul. 8th, 2019

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John Laviola Springfield, VA

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

1 year ago

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HoneeComb Natural Hair Salon Atlanta, GA

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.

1 year ago

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Rabia Omer Beltsville, MD

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

1 year ago

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KENNETH Renay DAVIS Atlanta, GA

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.

1 year ago

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Luis Bencomo Denton, TX

Excellent experience. Very Effective. No play arounds. Straight to the point with real solutions. Good feedback with clear specifications of what is needed to complete the paperwork.

1 year ago

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RodandMarjana Lloyd Denver, CO

Very simple process. Very friendly. Flexible funding. No prepayment penalties. We can borrow as necessary so we're not charged interest on borrowed funds we aren't using like one would with a traditional loan.

1 year ago

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Ruben De Leon East Stroudsburg, PA

Easy to apply and your funds are deposited in your bank quickly. Payments are very reasonable. It should have an option button so if you decide to add a little to your monthly payment you can do so. Instead of calling them. Other than that I have no complaints about their service.

1 year ago

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J Davis Graham, NC

I first obtained a loan with Headway Capital about 3 or 4 years ago when my credit score was not that great. They were, and still are, very easy to work with and seems to understand the capital needs of small business.

1 year ago

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Reply from Headway Capital

We're glad we were able to deliver on your business capital needs again J Davis! Thanks you for taking the time to provide us feedback.

Dec. 6th, 2019

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Ian Alexandra

They were there when I needed them and provided a line of credit to keep me alive

1 year ago

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Kevin White

Easy, no hassle process for getting approved. Easy to access and transfer from credit line to bank.

1 year ago

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Melani Carson, CA

I am very grateful for them. They allowed me to follow my dreams! They made it very easy for me to get capital.

1 year ago

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Melissa

Easy to deal with I think the rate is alittle high and I wish there was a sit date on the monthly withdrawal

1 year ago

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