OnDeck and Headway Capital are both owned by Enova International, so this is a choice between two products from the same parent rather than between rival companies. OnDeck offers term loans of $5,000 to $400,000 and lines of credit of $6,000 to $200,000, and asks for a 625 FICO score, 1 year in business and $100,000 in annual revenue. Headway Capital offers only a line of credit, from $5,000 to $100,000, with a $50,000 revenue minimum. Choose OnDeck for a larger line, a lump sum or a published average APR; choose Headway if your revenue sits below OnDeck’s floor and a smaller line covers your needs.
Our OnDeck review and Headway Capital review cover each in depth, and every head-to-head is in the lender reviews hub. Figures below come from each company’s own site unless marked.
OnDeck vs Headway Capital at a glance
Figures checked on September 21, 2026. Pricing is shown as each company quotes it.
| OnDeck | Headway Capital | |
|---|---|---|
| Products | Term loans; lines of credit | Line of credit only |
| Amounts | Term loans $5,000 to $400,000; lines $6,000 to $200,000 | Lines of $5,000 to $100,000: unsecured up to $50,000, secured up to $100,000 |
| Repayment | Term loans 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 |
| Pricing as quoted | Average APR 53.2% (term) and 59.8% (line) for loans originated in the half-year ending June 30, 2026; origination fee 0% to 4%; no annual, monthly or draw fees on the line | Calculator assumes a 3.3% monthly interest rate; 2% draw fee (none in CO, GA, IN, NJ and OK); no annual or monthly service fee |
| Minimum credit score | 625 personal FICO | Not published; personal credit is one of several factors |
| Minimum revenue | $100,000 a year | $50,000 a year |
| Minimum time in business | 1 year | Two figures given: 1 year on its line of credit page, 6 months in its FAQ |
| Credit check to apply | Soft check on the owner’s personal credit | Soft pull at application |
| Early payoff | Term loans: remaining interest waived or 75% owed, depending on the prepayment option; lines: no prepayment penalty | No fee for repaying early |
| Speed | Same day if you finish before 10:30 a.m. ET on a weekday; otherwise 2 to 3 business days | Typically by the next business day after approval |
| Lender | OnDeck or Celtic Bank, depending on state and business | Headway Capital, LLC |
| Parent | Enova International | Enova International |
Two products from the same parent
Headway Capital was an Enova brand before OnDeck was. When Enova completed its purchase of On Deck Capital on October 13, 2020, its announcement described Enova as having “two brands serving small businesses, Headway Capital® and The Business Backer®” (Enova). Enova’s brands 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 they “may qualify for a business line of credit with our partners at Headway Capital” (OnDeck FAQs). In practice, Headway fills the space below OnDeck’s minimums: a lower revenue floor and a smaller line.
What each costs
A few terms first. APR (annual percentage rate) is the yearly cost of borrowing, including interest and certain fees, so it lets you compare loans of different sizes and lengths. A monthly interest rate is the interest charged each month on what you owe, before fees. A draw fee is a percentage taken each time you pull money from a line.
OnDeck publishes its averages: 53.2% APR on term loans and 59.8% APR on lines of credit, for loans originated in the half-year ending June 30, 2026 (OnDeck requirements). Your offer could be higher or lower. OnDeck charges an origination fee of 0% to 4% and no annual, monthly or draw fees on its line (OnDeck line of credit).
Headway doesn’t publish an average APR. Its payment calculator “assumes a monthly interest rate of 3.3% and a 2% draw fee,” and the draw fee doesn’t apply in Colorado, Georgia, Indiana, New Jersey or Oklahoma (Headway Capital line of credit). A 3.3% monthly rate is 39.6% over 12 months in simple terms, before the draw fee, so it isn’t an APR and shouldn’t be set against OnDeck’s 59.8% as if it were. Headway says interest “does not compound” and there is “no annual or monthly service fee,” though late fees can apply (Headway FAQ). Headway lists state-by-state limits and repayment options on its rates and terms page. Ask Headway for the APR and total repayment on your draw in writing before you accept.
OnDeck’s own $50,000 line example
OnDeck’s sample disclosure for a $50,000 line 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). On the same $50,000 drawn from Headway, a 2% draw fee would be $1,000 before any interest. To compare, ask Headway for the same figures on a $50,000 draw over the same term.
Not sure whether a line or a lump sum fits better? Our guide to lines of credit vs term loans walks through the difference.
Who qualifies
OnDeck
- 625 personal FICO, 1 year in business, $100,000 annual revenue and a business checking account (OnDeck).
- A 675+ score, 2+ years in business, $250,000+ revenue and a $3,000+ average monthly balance help your chances.
- Only select customers qualify for the $400,000 term loan maximum. OnDeck doesn’t lend in North Dakota.
Headway Capital
- $50,000 or more in annual revenue (Headway Capital line of credit).
- Time in business: the line of credit page says “at least one year,” while the FAQ says “at least six months,” so confirm which applies to you.
- No published credit-score minimum; personal credit is one of several factors.
- Available in most, not all, states. Check the list on its rates and terms page.
Choose OnDeck if…
- You need a lump sum: term loans run from $5,000 to $400,000.
- You want a line larger than $100,000; OnDeck’s go up to $200,000.
- You’d rather not pay draw fees; OnDeck charges none on its line.
- You want a published average APR to benchmark offers against.
Choose Headway Capital if…
- Your revenue is between $50,000 and $100,000 a year, below OnDeck’s floor.
- You want a revolving line of $5,000 to $100,000 and only want to pay interest on what you draw.
- You’re in Colorado, Georgia, Indiana, New Jersey or Oklahoma, where Headway charges no draw fee.
- You’d rather apply without a published credit-score cutoff.
Pitfalls to watch
- Different price measures. OnDeck quotes an average APR; Headway’s calculator uses a monthly interest rate plus a draw fee. Ask both for an APR on the same amount and term.
- Draw fees add up. Outside the five fee-free states, each Headway draw may carry a 2% fee on top of interest, so draw only what you need.
- Frequent payments. OnDeck term loans are repaid daily or weekly, and both lines offer weekly payments. Map the debits against your cash flow.
- Early payoff on OnDeck term loans. Depending on the prepayment option, you may still owe 75% of the remaining interest if you pay off early.
- Secured vs unsecured. Headway’s unsecured line tops out at $50,000; above that, its line is secured, so ask what collateral it would take.
FAQ
Are OnDeck and Headway Capital the same company?
They are separate brands with the same parent, Enova International. Enova owned Headway before it acquired OnDeck in October 2020.
Which is easier to qualify for?
Headway’s published revenue minimum is $50,000 a year against OnDeck’s $100,000, and Headway doesn’t publish a credit-score floor. OnDeck asks for a 625 FICO.
Does Headway Capital offer term loans?
No. Headway offers revolving lines of credit. OnDeck offers both term loans and lines.
Does applying affect my credit score?
Both say they use a soft credit check when you apply. Headway notes that a restricted credit file may need a hard pull.
Next step
If you’d like to set OnDeck or Headway offers against others, SMB Compass can help you compare options from the lenders we work with. Start with our business line of credit page, or read OnDeck alternatives, OnDeck vs Bluevine and Bluevine vs Headway Capital.
Sources
- OnDeck: Loan eligibility requirements
- OnDeck: Business term 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: Rates and terms
- Enova: Enova Completes Acquisition of OnDeck (Oct 13, 2020)
- Enova: Our brands
About this page. Written by Ezra Cabrera, Content Team Lead at SMB Compass. Figures were checked against each lender’s own website on September 21, 2026; lenders change their terms, so confirm current terms before you apply, and let us know if you spot a figure that has changed. SMB Compass is a business financing broker: we don’t lend our own money, and we are paid by the lenders we place loans with. This page is general information, not financial, legal or tax advice.