Whether you need a term loan, a line of credit or a business cash advance, $75,000 business loans come in many forms to suit a range of credit scores. To qualify for a loan of this amount, you typically need to be in business for at least six months to a year or more and generate around $500,000 a year in revenue. Though some lenders may have more flexible time in business requirements depending on the type of business loan you’re after.
Compare providers to make sure you’re getting the most competitive rates and terms before you apply.
Most lenders, including banks, credit unions, alternative online lenders and business loan marketplaces, offer $75,000 business loans. Established businesses might find more competitive rates at a large national bank, while newer businesses might have better luck with an online lender or marketplace or an SBA loan specialist offering SBA 7(a), Express and 504 loans.
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Business loans for $75,000 cover a wide range of funding needs. Here’s a list of the most common types.
| Type of financing | Description | Use |
|---|---|---|
| Short-term business loan | An unsecured lump sum loan with repayment terms of up to 18 months | To cover unexpected costs or to survive a downturn |
| Business term loan | An unsecured lump sum loan with repayment terms of up to 10 years | To provide working capital for more established businesses |
| Business line of credit | A revolving line of credit for ongoing expenses | To tap into funds as needed and pay off as you go |
| Merchant cash advance | A quick turnaround loan for newer businesses or those with bad credit | To borrow against your future credit card sales |
| SBA loan | A low interest small business loan partially backed by the government | To provide working capital to grow your business |
| Equipment financing | A collateralized term loan to fund equipment | To pay for any kind of equipment for your business |
| Inventory factoring | A loan with an amount tied to your receivables | To access cash by selling your purchase orders or receivables |
| Inventory financing | A loan with an amount tied to your receivables | To access cash with a loan backed by your invoices |
Business loans can be categorized into two main types: secured and unsecured. Secured loans require collateral, which are assets like equipment, vehicles or even the business itself. The collateral serves as a guarantee for the lender, reducing their risk and possibly snagging you more favorable loan terms. Unsecured loans don’t require collateral but may require a personal guarantee and typically come with higher costs and APRs.
While a $75,000 business loan is well below the average business borrowing amount of $660,000, it’s still substantial enough that you’ll need to meet certain revenue requirements and other criteria, including:
The cost of a $75,000 business loan varies a lot depending on the type of loan. For example, a traditional bank term loan might start as low as 8% APR, while SBA loan rates are capped at the prime rate plus 2.25% to 2.75% for most programs — plus additional fees.
For shorter-term financing like lines of credit, APRs can run much higher — typically starting below 10% for the best credit borrowers and exceeding 60% APR for borrowers with lower credit scores.
Use the calculator below to find out how much your loan might cost based on different rates and terms.
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It depends on your loan. Most $75,000 loans are term loans, SBA loans, lines of credit, merchant cash advances (MCAs), equipment financing and invoice factoring and financing. Payments vary widely across these different types of financing. They might be monthly for a term loan but weekly or even daily for an MCA. And if you use invoice factoring, you won’t repay the factoring company at all — rather, you sell your invoices to the company for a discount.
The application process depends on the lender. While traditional bank loans might require a lot of paperwork, some online lenders offer “no-doc” loans that connect to your accounts to verify your financials right away.
Regardless of the lender, here are the general steps to apply for a $75,000 business loan:
The turnaround time on $75,000 loans depends on the loan type. SBA loans can take weeks to process, while short-term loans from online lenders can take one business day or less. For the fastest application times and turnaround, consider a no-doc lender.
Yes, many SBA loan programs are available for $75,000, including the popular 7(a) and Express loan programs. Loans backed by the Small Business Administration (SBA) offer low rates and high loan amounts to businesses that have a hard time qualifying elsewhere. But they also come with some of the highest rejection rates in the market.
It’s possible to borrow up to $75,000, even with bad credit. The most common types of business loans and financing available to bad credit borrowers are merchant cash advances, invoice factoring or financing, as well as loans backed by collateral, such as equipment loans and leases. But prepare to pay more in fees and interest if you get a bad credit business loan.
Yes, but your options are basically limited to SBA 7(a) and SBA microloans and possibly SBA 504 loans to finance equipment. But SBA loans aren’t the easiest to qualify for. For example, the 7(a) program requires that you have good credit, a down payment of 10% to 30%, a business plan showing how the business will generate revenue, plus a personal guarantee.
Because it can be hard to qualify for an SBA loan, some entrepreneurs use their own savings or take out a personal loan to launch a new enterprise. Personal loans don’t have a business revenue requirement or time in business requirement, making them ideal for startups — if the lender allows the funds to be used this way.
For more options, see our comprehensive guide to startup loans.
While it’s likely easier to qualify for a $75,000 loan than a larger amount, you’ll still need to meet the lender’s criteria. Compare the best small business loans to see the amounts and rates you might qualify for.
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