Headway Capital Review

Headway Capital is owned by Enova International, a company that provides a variety of financial services. Headway is its first entry into the small business loan market, and it offers its services to businesses that make more than $50,000 per year.

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    What Loans Headway Capital offers

    Headway only offers a simple line of credit business loan, and claims this allows it to provide a faster service than more traditional loans offered by rivals.

    How Headway Capital works

    Headway’s line of credit loans act in a very similar way to a credit card. You’ll have a maximum borrowing amount that you’ll draw from as and when needed. This can be anywhere between $5,000 and $100,000. You’ll then only have to pay interest on any funds you draw from this pot.

    However, interest rates are quite high, starting at 40% APR and hitting as high as 80% for some customers. Bear in mind, though, that you’ll also be charged 2% of the total draw amount every time you dip into your line of credit. So, if you decided to draw down $10,000 of your pot, you’d be subject to a $200 charge.

    How do I qualify for Headway Capital?  

    • You’ll need a minimum credit score of 550
    • Your business must have at least $50,000 turnover per year
    • You must have been trading for at least 12 months

    Headway Capital Pros And Cons


    • Applications can be completed in just a few minutes
    • Get access to your line of credit in just one business day
    • No prepayment penalties


    • Very high interest payments
    • High drawdown fees
    • Financing isn’t available in some states

    How do i apply for Headway Capital

    You can apply easily online. The application form should only take a few minutes to fill in and most applicants will get an instant qualification notification.

    Documents I need to apply for Headway Capital 

    You’ll need to provide copies of your business bank account statements covering the last three months. You’ll also need your business tax ID. 

    Headway Capital for bad credit

    With a minimum credit score requirement of 550, this is a good option for those with fair credit.

    However, given the particularly high interest rates, we wouldn’t recommend you use this lender if you have bad credit, as you might see interest rates as high at 80%.

    Headway Capital customer support

    Headway has a customer service helpline open 8:30 a.m. to 6:00 p.m. Central Time, Monday to Friday. You can also get in touch via email.


    While it certainly has a fast application process and offers quick access to funds, this lender’s high interest rates and fees might put a lot of borrowers off.

    You could try BlueVine as an alternative. It’s also able to arrange loans very quickly but has starting interest rates of just 4.8%. 

    If you’re also concerned that the borrowing amount may be too low for your business needs, you should try Kabbage.

    It has a lending limit of $250,000 as well as offering fast access to cash.