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.

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.

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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User Reviews

Star Rating

4.7
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200 Reviews

Review Breakdown

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Sentiment Criteria

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CRAIG SMITH

March 30th, 2020 Fountain Hill, PA DETAILS arrow_drop_down
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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!!!!

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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.

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Toni S.

March 25th, 2020 , DETAILS arrow_drop_down
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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!!!

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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.

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Dr. Alice R Berkowitz

March 17th, 2020 West Hollywood, CA DETAILS arrow_drop_down
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Excellent Service. Zachary and Evan were both very professional. I am very pleased.

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John Laviola

March 13th, 2020 Springfield, VA DETAILS arrow_drop_down
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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

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Mark

March 11th, 2020 Athens, GA DETAILS arrow_drop_down
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The process was quite simple. Access to funds and knowing the costs are also easy and manageable.

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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.

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Paul M Silva

March 11th, 2020 San Antonio, TX

love the website access to addition of credit line and service was phenomenal Dr S

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HoneeComb Natural Hair Salon

March 10th, 2020 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.

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David Gomez

March 9th, 2020 DETAILS arrow_drop_down
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Quick and easy to help. Customer service was helpful and polite

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April Haupt

March 9th, 2020 DETAILS arrow_drop_down
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They were very easy to deal with. They answered any questions and concerns. And they were timely with the distribution of funds.

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Siobhan Watson

March 9th, 2020 DETAILS arrow_drop_down
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Fast service, excellent customer service. No fine print

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Edward Newsome

March 9th, 2020 DETAILS arrow_drop_down
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Ease of use, application process and account interface.

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Kevin White

March 9th, 2020 DETAILS arrow_drop_down
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Easy, no hassle process for getting approved. Easy to access and transfer from credit line to bank.

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Robert Kilmer

March 9th, 2020 DETAILS arrow_drop_down
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Didnt quite get what needed but did get most within days

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ronald dugger

March 9th, 2020 DETAILS arrow_drop_down
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loan sharks,dishonest,would use them ever again,very misleading

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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.

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Brian Peters

March 8th, 2020 Mesa, AZ DETAILS arrow_drop_down
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Easy to use and fast funding and a good safety net to have

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Ken Rose

March 6th, 2020 , DETAILS arrow_drop_down
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The company fits your needs and is help full in a pinch to help you grow or make important purchases.

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Livier

March 4th, 2020 DETAILS arrow_drop_down
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They have a very Convenient payment plans options,

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Dan Morton

March 4th, 2020 DETAILS arrow_drop_down
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Haven't had any issues. They are easy to set up and use so far.

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Mike

March 4th, 2020 DETAILS arrow_drop_down
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The application was quick and easy. I would recommend to anyone.

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Richard Hawkins

March 4th, 2020 DETAILS arrow_drop_down
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Seem to be very good and easy to work with.

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laura

March 4th, 2020 DETAILS arrow_drop_down
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excellent services, really fast services

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David

March 4th, 2020 DETAILS arrow_drop_down
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Quick , responsive , good value , fair , trustworthy

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Randy Riggins

March 4th, 2020 DETAILS arrow_drop_down
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Great customer Service and good value for the product

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Daniel

March 4th, 2020 DETAILS arrow_drop_down
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Hardly no waiting time on a loan we needed pretty fast.

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Rein Green

March 4th, 2020 DETAILS arrow_drop_down
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Great customer service fast and friendly

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Monarch POCMachines

March 1st, 2020 Oakdale, CA

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

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tom klingbeil

February 26th, 2020 Fond du Lac, WI

Extremely fast, easy to obtain credit! Looking forward to a great relationship to help my business.

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Barton and Sons Construction

February 25th, 2020 Buffalo, NY DETAILS arrow_drop_down
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They are there when I need them.! I needed capital to support my growth. Great customer service.

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Tanya Vega

February 25th, 2020 Bakersfield, CA

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.

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Rabia Omer

February 25th, 2020 Beltsville, MD DETAILS arrow_drop_down
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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

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Daniel

February 24th, 2020 Corona, CA DETAILS arrow_drop_down
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Quick turn around .Money came through fast.

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Troy Jefferson

February 24th, 2020 Overland Park, KS DETAILS arrow_drop_down
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They we very fast responding to me, explained everything very clearly, and found my business capital when others couldn't.

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Michelle Johnson

February 24th, 2020 Fort Worth, TX DETAILS arrow_drop_down
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I appreciate the platform and easy transaction!

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William Perez

February 24th, 2020 DETAILS arrow_drop_down
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Quick and professional approval of loan.

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Kirk Garabedian

February 21st, 2020 San Dimas, CA

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

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Gary Lauck

February 19th, 2020 Greenwood, IN DETAILS arrow_drop_down
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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.

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Sheryl Daake

February 14th, 2020 McKinney, TX

Quick approval, quick funding and excellent customer service.

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Page One Protection, LLC

February 12th, 2020 Marietta, GA

Fast professional service. I am glad Headway Capital is giving my small business a head start! Thank you!

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Josh Anderson

February 12th, 2020 Orlando, FL DETAILS arrow_drop_down
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I love that it is so easy to receive funds and that there is no prepay penalties.

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Bobby Andrade

February 12th, 2020 Auburn, WA DETAILS arrow_drop_down
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Fast and efficient and very easy to work with.

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Dana Carlson

February 12th, 2020 Belle Vernon, PA

It was easy fast efficient They were professional, friendly really to answer any and all questions!

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KENNETH Renay DAVIS

February 12th, 2020 Atlanta, GA DETAILS arrow_drop_down
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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.

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K.cabrera

February 7th, 2020 Houston, TX

Your phone representatives are very willing to help patiently.

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Jeff

February 6th, 2020 Eden Prairie, MN DETAILS arrow_drop_down
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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

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ls

February 4th, 2020 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!!!

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Beatriz Rodriguez

February 4th, 2020 Algonquin, IL DETAILS arrow_drop_down
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The people are very helpful and knowledgeable. The customer service is Great. The funding process is quick and easy.

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colonial towne ins. agy, llc

January 31st, 2020 Williamsburg, VA DETAILS arrow_drop_down
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Easy to work with. Great service. I would recommend them to another Business associate.

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Kelli Washington

January 31st, 2020 Escondido, CA DETAILS arrow_drop_down
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I love having access online and having a credit line where I can use the money as needed has really help my business.

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Luis Bencomo

January 31st, 2020 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.

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Jen Ferguson

January 30th, 2020 Middleton, ID DETAILS arrow_drop_down
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Truly the best company out there in my opinion, I would recommend them if you are looking for a business loan they will care about your business more than any of the rest.