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Banks, credit unions and online lenders all offer $100,000 business loans. This is considered a relatively low amount in the business lending sphere, so you should have your pick of options. However, your business will still need 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 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.
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:
Credit score requirements vary widely by lender. For instance, OnDeck requires a credit score of at least 750, while Fora Financial is willing to work 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. Read our guide to the top good-credit business loans to find even more options — including loans of $100,000.
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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.
There are a variety of business loan options for $100,000. These are the most common options:
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 to business loans to determine exactly what type of financing your business needs.
Compare expansion loans for startups and established businesses.
This international bank offers term loans as low as $5,000 to business banking customers. But it’s not upfront about costs.
This factoring company advances as much as $15 million and offers nonrecourse factoring. But it’s not upfront about maximum rates.
Embrace economic and social change by exploring innovative business strategies to help your business secure present and future growth.
This lender offers invoice factoring specially designed for construction companies. Startups are welcome — but you’ll need $20k in invoices.
This nonrecourse factoring company has over 50 years of experience. But it doesn’t disclose fees and has a low maximum of $2 million.
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This month-to-month factoring company may be flexible — but it isn’t transparent about the cost.
This factoring company offers high advance rates with options for recourse and nonrecourse factoring. But some industries benefit more than others.
