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$100,000 business loans

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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.

LoanBuilder, A PayPal Service Business Loans

Our top pick: LoanBuilder, A PayPal Service

Customizable business loans with no hidden fees.

  • Min. Amount: $5,000
  • Max. Amount: $500,000
  • One-time fixed fee charged over the life of the loan
  • Acclaimed customer service
  • Requirements: $100,000+ annual revenue, 1+ years in business, 600+ personal credit score

    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

    Rates last updated January 21st, 2019
    Unfortunately, none of the business loan providers currently offer loans for these criteria.
    Name Product Product Description Min Loan Amount Max. Loan Amount Requirements
    LoanBuilder, A PayPal Service Business Loans
    Customizable loans with no origination fee for business owners in a hurry.
    Annual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.
    Kabbage Small Business Line of Credit
    A simple, convenient online application could securely get the funds you need to grow your business.
    1+ years in business, $50,000+ annual revenue or $4,200+ monthly revenue over last 3 months
    Credibly Business Loans
    Funding to cover business expenses with daily or weekly repayments.
    9+ months in business, $42,000+ annual business revenue, 550+ personal credit score
    LendingClub Business Loans
    With loan terms that vary from 1 to 5 years, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
    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
    LendingTree Business Loans
    Multiple business financing options in one place including: small business loans, lines of credit, SBA loans, equipment financing and more.
    Varies by lender and type of financing
    Varies by lender and type of financing
    Varies by lender, but you many require good personal credit, a minimum business age and minimum annual revenue.
    Lendio Business Loan Marketplace
    Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
    Must operate a business in the US or Canada, have a business bank account and have a personal credit score of 560+.

    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

    Anna Serio

    Anna Serio is a staff writer untangling everything you need to know about personal loans, including student, car and business loans. She spent five years living in Beirut, where she was a news editor for The Daily Star and hung out with a lot of cats. She loves to eat, travel and save money.

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