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 small cash flow to keep their businesses running. Borrowers can receive funding in as little as one business day, 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 550 or higher, and they need three months of recent business bank statements to apply. 

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.

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

4.6
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147 Reviews

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Melani

January 23rd, 2020 Carson, CA DETAILS arrow_drop_down
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I am very grateful for them. They allowed me to follow my dreams! They made it very easy for me to get capital.

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Bryon Ducey

January 23rd, 2020 South Glens Falls, NY DETAILS arrow_drop_down
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very easy to work with and got what I needed!!

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Verlissa Schrepfer

January 23rd, 2020 Wheaton, IL DETAILS arrow_drop_down
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Good company.. just didn't receive full information initially.. due dates, auto payments, password info to access account but got resolved

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Jesus Ramos

January 23rd, 2020 Houston, TX DETAILS arrow_drop_down
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Efficiency and transparency on their dealings, they do what they say

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mike

January 23rd, 2020 Fuquay-Varina, NC DETAILS arrow_drop_down
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easy to work with. fast and straight forward.

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Idorenyin Essien

January 23rd, 2020 Brooklyn, NY DETAILS arrow_drop_down
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I like the fact that the fund is available on time but I would also like to see increase on the credit line.

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RodandMarjana Lloyd

January 22nd, 2020 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.

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Diana A

January 17th, 2020 DETAILS arrow_drop_down
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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!

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Beatriz Rodriguez

January 17th, 2020 DETAILS arrow_drop_down
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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

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Ron

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Representatives were excellent fast service Exactly as they said

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Hope

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Just loved them. They are reliable and did exactly what they said

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Sharon

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Excellent rapport, very fast turnaround, clear terms.

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Artie Ercolino

January 16th, 2020 Millsboro, DE DETAILS arrow_drop_down
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Awesome customer service! Super Fast funding

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Kevin MacNab

January 15th, 2020 Des Plaines, IL DETAILS arrow_drop_down
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Its been great. They were fantastic at helping me when we needed cash.

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Desert Cactus Logistics

January 14th, 2020 Buckeye, AZ

The application process was simple! Funds were available quickly. Now I am able to purchase the equipment needed to build my business and my brand.

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Mara

January 14th, 2020 Denver, CO DETAILS arrow_drop_down
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Great Customer service, fast and upfront.

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Barbara Pickert

January 14th, 2020 Tarrytown, NY DETAILS arrow_drop_down
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Efficient, quick and responsive, made the process easy, customer service was great in helping me with website and good instructions too.

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Anne Marie Hull

January 9th, 2020 Waterford, PA DETAILS arrow_drop_down
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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.

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Dan Peterman

January 9th, 2020 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.

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David Gill

January 8th, 2020 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

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April Peters

January 8th, 2020 Lafayette, LA

The experience we have had as a business has been a good one and Very smooth. We highly recommend using Headway Capital.

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Rene Ramos

January 8th, 2020 Los Angeles, CA

Fast, simple and straightforward loan process.

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Vanessa Cruz

January 8th, 2020 Dallas, TX

Excellent customer service! I'm very happy to find a company that will help me build my company.

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Diane

January 8th, 2020 Amherst, NH DETAILS arrow_drop_down
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Quick response to my financial needs. 2-3 days from money requests to deposit. Also, flexible terms, 12-18 months, use only what you need.

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David Trewolla

January 8th, 2020 Brandon, MS DETAILS arrow_drop_down
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Professional, courteous and always timely efficient.

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David Gomez

January 7th, 2020 DETAILS arrow_drop_down
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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...

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Tony Whitley

January 7th, 2020 DETAILS arrow_drop_down
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Efficient, professional organization. Prompt decision, courteous contact.

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Chris

January 7th, 2020 DETAILS arrow_drop_down
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They were informative and provided a very efficient service.

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Dariush Shafagh

January 7th, 2020 DETAILS arrow_drop_down
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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.

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Rodney Sculthorpe

January 7th, 2020 DETAILS arrow_drop_down
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No surprises! That's important...the application process was straight forward, and everything happened as it wad explained, no changes after the fact.

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Janes Garst

January 7th, 2020 DETAILS arrow_drop_down
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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.

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Juan Apuparo

January 7th, 2020 DETAILS arrow_drop_down
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Really good company and they help to grow small business

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Barry Costanzo

January 7th, 2020 DETAILS arrow_drop_down
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The cost of money borrowed is too high. If it was lower I would rate them a 6.

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Melissa

January 7th, 2020 DETAILS arrow_drop_down
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Easy to deal with I think the rate is alittle high and I wish there was a sit date on the monthly withdrawal

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Sam

January 7th, 2020 DETAILS arrow_drop_down
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Easy to work with, clear understanding of how the product works.

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Steven

January 7th, 2020 DETAILS arrow_drop_down
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so easy to work with. From start to finish of the loan

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George

January 7th, 2020 DETAILS arrow_drop_down
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Excellent customer service I was able to receive the funds quickly.

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Mildred Washington

January 7th, 2020 DETAILS arrow_drop_down
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They were willing to help us grow our business.

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Robert Heslop, MD

January 2nd, 2020 Canonsburg, PA DETAILS arrow_drop_down
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Headway Capital is an easy company with which to do business. They make it very easy to get funding for your company.

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hui leslie

December 30th, 2019 South San Francisco, CA DETAILS arrow_drop_down
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good term. money is fast. agent Ken is wonderful.

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Sam Smith

December 30th, 2019 Houston, TX DETAILS arrow_drop_down
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Excellent company and the application process is simple. Great for startups

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Nick Dodge

December 30th, 2019 Lafayette, LA DETAILS arrow_drop_down
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Not a scam! Finally a company that can deliver fast and with a reasonable competitive rate. I would reccomend and use them again.

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Cynthia T

December 30th, 2019 Augusta, GA DETAILS arrow_drop_down
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Very responsive and good to work with. They are very professional and fast. I would definitely refer them

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E Palmer

December 26th, 2019 DETAILS arrow_drop_down
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Great, customer friendly web site. Instant access to current info. Good communication.

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Michael Garelick

December 26th, 2019 Sherman Oaks, CA DETAILS arrow_drop_down
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Thank you Headway for your help. It was so easy getting funds.

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Manny Fernandez

December 26th, 2019 Arlington, TX DETAILS arrow_drop_down
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Incredibly quick and easy! Looking forward to a long relationship. Thank you Headway!

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Krista Miller

December 23rd, 2019 Lafayette, LA

Submitted a request and funding was in my account the next morning. Great customer service!

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Daniel

December 20th, 2019 Newark, CA DETAILS arrow_drop_down
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Working with Headway Capital was a great experience! They were responsive and the process was very smooth. I would highly recommend working with them!

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Rick Christian

December 19th, 2019 Standard, CA

Fast, efficient and easy process, quick funding

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Shannon Smith

December 18th, 2019 Atlanta, GA DETAILS arrow_drop_down
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Awesome Experience and Joshua R was a joy to work with in getting it done🙂 this was my first time and it was a easy and great experience