$100,000 business loans | finder.com
business loan key in a keyboard

$100,000 business loans

We value our editorial independence, basing our comparison results, content and reviews on objective analysis without bias. But we may receive compensation when you click links on our site. Learn more about how we make money from our partners.

Expand your calling or invest in your future with a boost in capital.

You’ve put in the time to establish your small business. But when you’re ready to take bigger steps, a $100,000 business loan can be just the boost your working capital needs.

A business loan can help fill gaps in your cash flow, update equipment or purchase commercial vehicles to get more done more quickly. Qualifying for $100,000 is possible, even if your business hasn’t been around that long — but it takes some work.

Our top pick: National Business Capital Business Loans

  • Min. Credit Score Required: No minimum FICO score
  • Min. Loan Amount: $10,000
  • Max. Loan Amount: $5,000,000
  • APR:
  • Requirements: Your company must have been in business for at least 6 months and have an annual revenue of at least $100,000.
  • Approvals within 24 hours
  • No industry restrictions
  • High approval rate
  • Startup financing options

Our top pick: National Business Capital Business Loans

Get a large business loan to cover your financing needs, no matter what the purpose is. Startups welcome with 680+ credit score.

  • Min. Credit Score Required: No minimum FICO score
  • Min. Loan Amount: $10,000
  • Max. Loan Amount: $5,000,000
  • Requirements: Your company must have been in business for at least 6 months and have an annual revenue of at least $100,000.
Promoted

How to get a $100,000 business loan

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 can check off most of the boxes below:

  • Annual revenue of $1 million or more. You’ll want to prove that you bring in enough money to comfortably afford the monthly repayments on a $100,000 loan.
  • At least one year in business. Typically the longer you’re in business, the better. Many lenders want to see two years or more for loans as large as $100,000.
  • Good personal credit. Though you can find financing with a low credit score, you’ll find more competitive rates with a score of 670 or higher.
  • Strong cash flow. Your business must prove that money comes in regularly enough to consistently repay your loan.

What credit score do I need?

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.”

Compare top providers for $100,000 business loans

Updated June 25th, 2019
Name Product Filter Values Min. Amount Max. Amount Requirements
$5,000
$500,000
Annual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.
Customizable loans with no origination fee for business owners in a hurry.
$5,000
$250,000
6+ months in business, $100,000+ annual revenue, 600+ credit score, not based in North Dakota or South Dakota
Get a predictable business loan with a fixed weekly rate.
$10,000
$5,000,000
Your company must have been in business for at least 6 months and have an annual revenue of at least $100,000.
Get a large business loan to cover your financing needs, no matter what the purpose is. Startups welcome with 680+ credit score.
$5,000
$500,000
600+ personal credit score, 1+ years in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
$500
$250,000
1+ years in business, $50,000+ annual revenue or $4,200+ monthly revenue over last 3 months
A simple, convenient online application could securely get the funds you need to grow your business.
$5,000
$250,000
6+ months in business, $180K annual business revenue, 500+ credit $15K+ in monthly deposits
Funding to cover business expenses with daily or weekly repayments.
$500
$5,000,000
Must operate a business in the US or Canada, have a business bank account and have a personal credit score of 560+.
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.

Compare up to 4 providers

How much does it cost to repay a $100,000 business loan?

Your loan repayments ultimately depend on the APR and loan term you find. APR is a representation of your loan’s rates and fees, expressed as a percentage. Your loan term is the time you have to repay your total loans.

Online term loans come with APRs that range from 7% to 100%, though you could expect a rate of 20% on a $100,000 loan. Term loans can go up to seven years, but your typical $100,000 business loan comes with a term of around 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.

Use our business loan calculator to see how different loan terms could affect costs

Case study: Thorn Tree Brewers buys new barrels

Let’s say that Thorn Tree Brewers wants to expand its production. Thorn Tree’s owner, Spencer, crunches the numbers to discover he needs a $100,000 loan to cover the costs of more barrels. Spencer compares several online lenders, narrowing his options to Fora Financial, OnDeck and LendingClub. He applies to prequalify with all three, learning the APR and terms he’d face with each.

LenderAPR offeredTermEst. monthly repaymentEst. total cost
Fora Financial30%1 year$9,748.71$16,984.55
OnDeck24% AIR3 years$3,923.29$41,238.27
LendingClub18%3 years$3,615.24$30,148.62

After reviewing the numbers, Spencer continues his application with LendingClub. It might require a longer turnaround than OnDeck, but its monthly repayments are more in line with Spencer’s budget than the other two options. And the total cost is some $11,000 less expensive than OnDeck’s.

Secured business loans for $100,000

At the $100,000 level, you have your pick between business loans with or without collateral. Secured business loans tend to require a specific purpose — buying a vehicle, equipment or real estate, for instance. You can sometimes find general-use financing backed by a lien in your business’s assets.

Secured loans might be an option for a business that just meets the requirements for a $100,000 loan. It can also help your business qualify for more competitive rates, because it’s less risky for the lender.

Bottom line

Generally, $100,000 business loans aren’t for new businesses. Your business typically needs to be around for at least a year and make at least $1 million in annual revenue. While good credit isn’t absolutely necessary, your options may be limited with a credit score that’s under 670.

Read our business loans guide to compare business lenders or learn more about how these loans work.

Frequently asked questions

Image source: Shutterstock

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site