OnDeck and Headway Capital are both owned by Enova International, so it’s a choice between two products from the same parent company rather than between competing companies. OnDeck offers term loans from $5,000 to $400,000 and lines of credit from $6,000 to $200,000 and requires a FICO score of 625, 1 year in business, and $100,000 in annual revenue. Headway Capital only offers a $5,000 to $100,000 line of credit with a minimum spend of $50,000. Choose OnDeck for a larger line, flat rate, or published average APR; Choose Headway if your sales are below OnDeck’s floor and a smaller line meets your needs.
Our OnDeck review and Headway Capital review cover both in depth, and all side-by-side comparisons can be found in the lender reviews hub. Figures below are from each company’s website unless otherwise noted.
OnDeck vs. Headway Capital at a glance
The figures were verified on September 21, 2026. Prices are shown as provided by each company.
| OnDeck | Capital of progress | |
|---|---|---|
| Products | term loan; Lines of credit | Line of credit only |
| Amounts | Term loans between $5,000 and $400,000; Lines $6,000 to $200,000 | Lines from $5,000 to $100,000: unsecured up to $50,000, secured up to $100,000 |
| repayment | Term loan up to 24 months, daily or weekly; Lines over 12, 18 or 24 months, weekly or monthly | Lines over 12, 18 or 24 months, weekly or monthly |
| Prices as stated | Average APR 53.2% (term) and 59.8% (line) for loans taken out in the half year ending June 30, 2026; Commitment fee 0% to 4%; There are no annual, monthly or withdrawal fees | The calculator assumes a monthly interest rate of 3.3%; 2% drawing fee (none in CO, GA, IN, NJ and OK); no annual or monthly service fee |
| Minimum credit score | 625 personal FICO | Not published; Personal creditworthiness is one of several factors |
| Minimum sales | $100,000 per year | $50,000 per year |
| Minimum time in store | 1 year | Two numbers are given: 1 year on the credit line page, 6 months in the FAQ |
| Credit check for application | Gentle check of the owner’s personal creditworthiness | Gentle pull when applying |
| Early payout | Term Loan: Waiver of remaining interest or 75% owed, depending on early repayment option; Lines: no early repayment penalty | No early repayment fee |
| speed | Same day if you finish before 10:30 a.m. ET on a weekday; otherwise 2 to 3 working days | Typically by the next business day after approval |
| Lender | OnDeck or Celtic Bank, depending on state and company | Headway Capital, LLC |
| parent | Enova International | Enova International |
Two products from the same parent
Before OnDeck, Headway Capital was an Enova brand. When Enova completed its purchase of On Deck Capital on October 13, 2020, the announcement described Enova as having “two small business brands, Headway Capital® and The Business Backer®” (Enova). Enova’s brand page now lists both: OnDeck “offers a wide range of term loans and lines of credit,” while Headway “is a dedicated small business lender offering revolving lines of credit” (Enova Brands).
The two point to each other. OnDeck’s FAQ tells applicants that they “may qualify for a business loan with our partners at Headway Capital” (OnDeck FAQ). In practice, Headway fills the space below OnDeck’s minimum revenue: a lower revenue floor and a smaller line.
What each one costs
First a few terms. APR (APR) is the annual cost of a loan, including interest and certain fees, allowing you to compare loans of different sizes and terms. A monthly interest rate is the interest rate charged on your debt each month, before fees. A Drawing fee is a percentage that is deducted every time you withdraw money from a line.
OnDeck publishes its averages: 53.2% APR for term loans and 59.8% APR for lines of credit for loans taken out in the half year ending June 30, 2026 (OnDeck requirements). Your offer could be higher or lower. OnDeck charges a 0% to 4% origination fee and no annual, monthly or withdrawal fees for its line (OnDeck Line of Credit).
Headway does not publish an average APR. Its payment calculator “assumes a 3.3% monthly interest rate and a 2% withdrawal fee,” and the withdrawal fee does not apply in Colorado, Georgia, Indiana, New Jersey or Oklahoma (Headway Capital line of credit). In simple terms, a monthly rate of 3.3% is 39.6% over 12 months, before the withdrawal fee. So it is not an APR and should not be compared to OnDeck’s 59.8% as if it were. Headway says the interest “does not add up” and there is “no annual or monthly service charge”, although late payment interest may apply (Headway FAQ). Headway lists state-by-state limits and repayment options on its rates and terms page. Before accepting, ask Headway in writing for the APR and total repayment of your draw.
OnDeck’s own line example for $50,000
OnDeck’s sample disclosure for a $50,000 line of credit repaid over 12 months shows monthly payments of $5,446.78, total repayment of $65,361.31, estimated interest of $15,361.31, and an APR of 52.6% (OnDeck Loan Comparison Tool). For the same $50,000 withdrawn from Headway, a 2% withdrawal fee would be $1,000 before interest. For comparison, ask Headway for the same numbers for a $50,000 drawing over the same time period.
Not sure whether a line or a flat rate is a better fit? Our guide to lines of credit and term loans explains the difference.
Who is qualified?
OnDeck
- 625 personal FICO, 1 year in business, $100,000 annual revenue, and a business checking account (OnDeck).
- A score of over 675, more than two years in business, sales of over $250,000, and an average monthly balance of over $3,000 improve your chances.
- Only select customers qualify for the loan with a maximum term of $400,000. OnDeck does not lend in North Dakota.
Capital of progress
- $50,000 or more in annual revenue (Line of Credit from Headway Capital).
- Length of time in business: The credit line page says “at least one year,” while the FAQ says “at least six months.” So confirm what applies to you.
- No published minimum credit score; Personal creditworthiness is one of several factors.
- Available in most, not all, states. View the list on the “Prices and Conditions” page.
Choose OnDeck if…
- You need a lump sum: Term loans range from $5,000 to $400,000.
- You want a line larger than $100,000; OnDecks go up to $200,000.
- You prefer not to pay drawing fees; OnDeck does not charge any fees for its line.
- You want a published average APR that you can use to compare offers.
Choose Headway Capital if…
- Your revenue ranges from $50,000 to $100,000 per year, which is below OnDeck’s minimum revenue.
- You want a $5,000 to $100,000 revolving line and only want to pay interest on what you draw.
- You are located in Colorado, Georgia, Indiana, New Jersey or Oklahoma where Headway does not charge a drawing fee.
- It is better to apply without a published credit limit.
Pitfalls to be aware of
- Various pricing measures. OnDeck reports an average APR; Headway’s calculator uses a monthly interest rate plus a withdrawal fee. Ask both for an APR for the same amount and term.
- The drawing fees add up. Outside the five fee-free states, each Headway draw may be subject to a 2% fee in addition to interest. So only pull what you need.
- Frequent payments. OnDeck term loans are repaid daily or weekly, and both lines offer weekly payments. Allocate the charges to your cash flow.
- Early repayment of OnDeck term loans. Depending on the early repayment option, you could still owe 75% of the remaining interest if you repay early.
- Secured vs. unsecured. Headway’s unsecured line is $50,000. In addition, the line is secured. So ask what collateral would be required.
FAQ
Are OnDeck and Headway Capital the same company?
They are separate brands with the same parent company, Enova International. Enova owned Headway before acquiring OnDeck in October 2020.
What is easier to qualify for?
Headway’s published minimum revenue is $50,000 per year versus OnDeck’s $100,000, and Headway does not publish a credit floor. OnDeck requires a 625 FICO.
Does Headway Capital offer term loans?
No. Headway offers revolving lines of credit. OnDeck offers both term loans and lines of credit.
Does the application affect my creditworthiness?
Both state that they carry out a soft credit check when submitting the application. Headway points out that a restricted credit file may require a tough review.
Next step
If you would like to compare OnDeck or Headway offers, SMB Compass can help you compare options from the lenders we work with. Start with our Business Line of Credit page or check out OnDeck alternatives, OnDeck vs. Bluevine and Bluevine vs. Headway Capital.
Sources
- OnDeck: Credit eligibility requirements
- OnDeck: Business Loans
- OnDeck: Business line of credit
- OnDeck: FAQs
- OnDeck: Loan comparison tool (sample disclosures)
- Headway Capital: Business Line of Credit
- Headway Capital: FAQ
- Headway Capital: prices and conditions
- Enova: Enova Completes Acquisition of OnDeck (October 13, 2020)
- Enova: Our brands
About this page. Written by Ezra Cabrera, Content Team Lead at SMB Compass. The figures were reconciled with each lender’s website on September 21, 2026; Lenders change their terms. Therefore, please check the current conditions before applying and let us know if you notice a number that has changed. SMB Compass is a corporate finance broker: we do not lend our own money and are paid by the lenders we lend from. This site provides general information and does not provide financial, legal or tax advice.
This article is for general information purposes only. This does not constitute financial, legal or tax advice, nor does it take into account your company’s specific situation. Interest rates, terms and requirements change and vary by lender. Before making a financing decision, speak to a qualified financial advisor, accountant or lawyer. SMB Compass is a business financing company and not a direct lender.
