Compare $100,000 business loans

Where can I get a $100,000 business loan?

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.

Compare providers for $100,000 business loans

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.

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Name	Product	Filter Values	Loan amount	APR	Requirements
First Down Funding business loans			$4,000 – $300,000	5.49% to 22.79%	At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 300	Alternative financing up to $300K with highly competitive rates.	Check eligibility More Info		loading Fetching your data...
Lendio business loans			$500 – $5,000,000	Starting at 6%	Operate business in US or Canada, have a business bank account, 560+ personal credit score	Submit one simple application to potentially get offers from a network of over 75 legit business lenders.	Check eligibility More Info		loading Fetching your data...
OnDeck small business loans			$5,000 – $250,000	As low as 9.99%	600+ personal credit score, 3+ years in business, $100,000+ annual revenue	A leading online business lender offering flexible financing at competitive fixed rates.	Check eligibility More Info		loading Fetching your data...
Fundbox business loans			$1,000 – $100,000	4.99	You must have an established business.	Get flat rate, short-term financing based on the financial health of your business, not your credit score.	Check eligibility More Info		loading Fetching your data...
Kickpay e-commerce business loans			$20,000 – $1,000,000	Not applicable	At least $250,000 in the past 12 months of revenue, e-commerce business, use a 3rd party fulfillment center for storing and shipping inventory, at least one US location.	Get a loan for your e-commerce business based on your sales history.	Check eligibility More Info		loading Fetching your data...
Fundera business loans			$2,500 – $5,000,000	7% to 30%	$300,000+ of annual revenue, 680+ personal credit score, in business for 3+ years	Get connected with short-term funding, SBA loans, lines of credit and more.	Check eligibility More Info		loading Fetching your data...
LendingClub business loans			$5,000 – $500,000	9.77% to 35.98%	12+ months in business, $50,000+ in annual sales, no bankruptcies or tax liens, at least 20% ownership of the business, fair personal credit score or better	With loan terms that vary from 1 to 5 years, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.	Check eligibility More Info		loading Fetching your data...
Monevo business loans			$500 – $100,000	3.99% to 35.99%	Credit score of 500+, legal US resident and ages 18+.	Use this connection service to get paired with a loan you can use for business.	Check eligibility More Info		loading Fetching your data...

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How to get a $100,000 business loan

The application process depends on the type of loan you plan on borrowing, but these general steps should help you with most lenders.

1. Determine your business’s needs. Speak with your financial advisor or go over your finances to confirm your business needs a $100,000 loan and can handle repayments.
2. Compare lenders. Use our table of lenders to start your search. You should also check with your current bank and other financial institutions to compare their rates and terms.
3. Prepare financial documents. A lender may ask to see proof of revenue and a business plan when you apply. Be sure to request a list of all the required documents to ensure you have everything your lender needs.
4. Submit a complete application. Once you have your documents gathered, work with your lender to submit your application. Some may have an online process while others will require you to visit a branch.

How to qualify for 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 and your business meet the following qualifications:

• Annual revenue of $1 million or more to comfortably afford the monthly repayments
• At least one year in business, but many lenders want to see two years or more
• Strong cash flow that comes in regularly enough to consistently repay your loan
• Good personal credit of 670 or higher

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.

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

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.

Types of $100,000 business loans

There are a variety of business loan options for $100,000. These are the most common options:

• Business term loan. Term loans are ideal if you have to cover a one-time expense. This is an extremely common option, so you should be able to find financing from a wide variety of lenders to cover $100,000.
• Business line of credit. A line of credit is a flexible option that allows you to use your funds — up to your credit limit of $100,000 — whenever you need. And you’ll only pay interest on what you borrow.
• Equipment finance. If your business needs a piece of equipment or inventory, equipment financing is the right choice. It will use your purchase as collateral, keeping your rate low — especially if you are able to make a down payment to cover a portion of a $100,000 loan.
• Short-term business loans. Merchant cash advances (MCAs), invoice financing and invoice factoring are business loans meant to cover a short-term gap in capital. They are typically more expensive than other types of loans, but may be useful if your business needs quick access to funding.

Bottom line

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.

Frequently asked questions

• Can I get a $100,000 business loan to start a business?

  You may be able to, but it’s unlikely — most lenders require at least one year in business and proof of revenue. 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.

• Will lenders consider my business credit score?

  It depends on which lender you apply with, though 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.

• Can I get a $100,000 business loan with bad credit?

  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.” And if you do qualify, you’ll likely end up with shorter terms and less competitive rates than borrowers with good credit.