Compare Different Types of Business Loans

See how a Headway Capital business line of credit could help.

What's your desired credit limit?

$26,000
What repayment term works for you?
How often do you want to make payments?

Weekly Payment Amount*:

$424.00 Apply Now

We’re currently accepting new customer applications. Applying will not impact your credit score.

Applying will not impact your credit score.1

*This business loan calculator assumes a monthly interest rate of 3.3% and a 2% draw fee. Your interest rate and credit limit may vary based on your application. No draw fee in CO, GA, IN, NJ and OK.

Business Loan Types

There are many types of business loans available for commercial lending, ranging in amounts from thousands to millions of dollars, with repayment terms anywhere from weeks to years. We recommend you compare and contrast all potential funding options before choosing a final solution. The top 10 most popular business loans include:

Compare Business Loan Types

SBA Loans

  • Pros:

    • Higher loan amounts, ranging from $5,000 – $5 million

    • Lower interest rates, typically 4% – 10%

  • Cons:

    • Difficult to qualify for

    • Not all lenders offer SBA-backed loans

Business Term Loans

  • Pros:

    • Longer repayment periods, typically 1 – 10 years

    • Substantial funding amounts, ranging from $20,000 to $500,000

  • Cons:

    • Fixed lump sum

    • Fixed rate not a guarantee

Merchant Cash Advance

  • Pros:

    • Rapid financing

    • Easier to qualify for than a traditional bank loan

  • Cons:

    • High interest rates

    • Impacts daily and/or weekly profits

Business Lines of Credit

  • Pros:

    • 24/7 access to funds

    • Borrow up to your limit and borrow more as you repay

  • Cons:

    • Need strong business revenue to qualify

    • Possible draw and maintenance fees

Invoice Factoring

  • Pros:

    • Rapid financing

    • Easier to qualify for than a traditional bank loan

  • Cons:

    • High interest rates

    • Often fee-heavy (application, invoice processing, credit checks)

Equipment Loans

  • Pros:

    • Funding amounts can cover machinery up to as much as $2 million

    • Interest paid may be tax-deductible

  • Cons:

    • Need strong business credit to qualify

    • Often requires a down payment

Business Credit Cards

  • Pros:

    • Help build your business's credit

    • Interest and fees can be tax-deductible

  • Cons:

    • High interest rates

    • Long-term borrowing can hurt your bottom line

Startup Loans

  • Pros:

    • Help build your business's credit

    • No need to sell equity

  • Cons:

    • Requires a personal guarantee

    • May also require collateral

Business Loans for Women

  • Pros:

    • Better likelihood of approval

    • Multiple types of loans available

  • Cons:

    • Must determine which loan type is right for your business

    • Qualifications vary from lender to lender

Personal Loans for Business

  • Pros:

    • Rapid funding

    • Typically unsecured

  • Cons:

    • High interest rates

    • Puts your personal credit at risk

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Headway Capital Business Loans

At Headway Capital, we believe you can accomplish great things with the right support and are proud to help hardworking business owners like you accomplish your goals. We do this by offering a business line of credit with no hidden fees.

Credit Line

Up to
$100,000

Repayment Term

12, 18 or 24 months

Payment Frequency

Weekly or monthly

Loan Type

Business line of credit

No Hidden Fees

See our Rates & Terms for details

Clear Cost

Clear payment terms, interest does not compound, no penalty for early payoff

1We always do a soft inquiry unless your credit file is restricted, in which case we would ask you to contact the credit bureau to lift the restriction. Doing so may result in a hard pull.