Banks, credit unions and online lenders offer $100,000 business loans of different types, including: term loans, lines of credit, accounts receivable financing and more. However, your business needs to meet basic annual revenue and time in business requirements to qualify for a loan — no matter which lender you choose.
To start the comparison process, select your business’s average annual revenue, time in business and your personal credit score. Then click Show Loans to see your options.
The cost ultimately depends on your APR and loan term. Standard business loans and lines of credit may have an APR of 7% to 100%. Short-term business options like merchant cash advances (MCAs), invoice factoring and invoice financing all have higher rates, which make them a more expensive — if quicker — choice.
The repayment period also impacts the final cost. You can expect a loan term of up to seven years, although on average a $100,000 business loan comes with a term of three years.
For a $100,000 loan with a 20% APR and a three-year term, your business’s monthly repayments would be $3,716.36. You’d pay a total $33,788.90 over the life of the loan in interest and fees. To get great rates, compare the top excellent-credit business loans with our guide.
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The application process depends on the type of loan you plan on borrowing, but these general steps should help you with most lenders.
For a loan this size, you’ll likely need to meet more than a lender’s advertised minimum requirements.
We asked high-dollar online lenders what they look for in a borrower. While providers vary, you stand a good chance of approval for $100,000 in financing if you and your business meet the following qualifications:
If you’re looking for a $100,000 loan to start a business, you might find it challenging — most lenders require at least one year in business and proof of revenue before they’ll give you a loan.
According to the Federal Reserve Banks’ Small Business Credit Survey, 29% of startup non-employers that have been in business for under two years applied for financing, and 31% of those that applied were fully approved. However, you may be able to use a personal loan for business expenses. You can also explore the best loans for startups to better understand your options.
Credit score requirements vary widely by lender. For instance, OnDeck requires a credit score of at least 625, while Fora Financial works with scores as low as 500.
Generally the higher your credit score, the more competitive your options. It could be difficult to find financing of $100,000 if your score is below 670 — the minimum to qualify as good credit. And it’s rare for anyone to consider your business credit score alone. Typically, lenders ask to see your personal credit score or a combination of your personal and business scores.
Read our guide to the top good-credit business loans to find even more options — including loans of $100,000.
Yes, it’s possible. Some lenders work with borrowers that have scores as low as 500. That’s because lenders consider other factors like your cash flow and revenue to determine your ability to repay the loan. But if you do qualify, you’ll likely end up with shorter terms and less competitive rates than borrowers with good credit.
There are a variety of business loan options for $100,000. These are the most common options:
| Type of financing | Description | Use |
|---|---|---|
| Short term loan | An unsecured lump sum loan with repayment terms up to 18 months | To cover unexpected costs or to survive a downturn |
| Business term loan | A unsecured lump sum loan with repayment terms up to 10 years | To provide working capital for more established businesses |
| Business line of credit | A revolving line of credit for ongoing needs | To tap into funds as needed and pay off as you go |
| Business cash advance | A quick turnaround loan for newer businesses | To borrow against the money you plan to make |
| Accounts receivable financing | A loan with an amount tied to your receivables | Lets you access cash by selling your purchase orders or receivables |
| SBA loan | A low interest small business loan partially backed by the government | To provide working capital to grow your business |
| Startup loan | A term loan for businesses with limited credit history | To provide working capital to get your business off the ground |
| Equipment financing | A collateralized term loan to fund equipment | To pay for any kind of equipment for your business |
| Business credit card | A revolving line of credit for ongoing needs | To tap into funds as needed and pay off as you go |
Business loans can either be secured or unsecured. A secured loan is backed by collateral from your business – like real estate, equipment, or other valuable assets. An unsecured loan is extended based on your creditworthiness alone and isn’t backed by collateral. But with an unsecured loan, you’ll likely need to provide a personal guarantee.
The SBA offers a variety of loans for businesses looking for $100,000 — often with lower rates than a traditional loan from a bank or online lender.
You should explore the full range of SBA-backed business loans to see what options your business might qualify for.
A $100,000 loan can be a good solution for businesses that want to expand, need access to working capital or want to purchase equipment and inventory. But because it can take so many forms, you should read our guide on the best business loans to determine exactly what type of financing your business needs.
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