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Compare $100,000 business loans

Expand your business with a small boost in capital.

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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.

Data indicated here is updated regularly

Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
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 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Starting at 6%
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 11.89%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK
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$100,000 SBA loans

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.

  • SBA (7)a program. The 7(a) loan program provides funding for working capital and other business expenses.
  • SBA Express program. Express loans are also meant for general business expenses, but the application process requires less paperwork, cutting the time it takes to get funding.
  • SBA 504 program. The 504 program is meant for commercial real estate and equipment.

You should explore the full range of SBA-backed business loans to see what options your business might qualify for.

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. Read our guide to the top good-credit business loans to find even more options — including loans of $100,000.

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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. To get great rates, compare the top excellent-credit business loans with our guide.

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.

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