How to Get a 100k Business Loan

Reviewed by Ty Crandall

November 14, 2023


How to Get a 100k Business Loan Credit Suite

It’s important to remember when wondering how to get a 100k business loan, or really any loan amount, that the specific requirements will vary by lender, loan type, and loan amount. 

For example, is it a term loan or a business line?  Are you looking for an unsecured business loan, or do you have security to offer? Do you need specific repayment terms? 

It's the perfect fit! Up to 150K in unsecured no-doc credit cards for your business even when banks say “NO”.

Qualifications For a 100K Business Loan:

Fundability Foundation™

You need a Fundable Foundation™ to apply for any funding in your business name, even vendor credit or a credit card as well as a business line or small business loan. 

For example, setting your business up as a corporation, S-corp, or LLC, and getting a free EIN from the IRS. It also means ensuring you have all the necessary business licenses and permits you need to legally operate your small business. 

  • Don’t use a business name that indicates risk 
  • Set up separate business contact information. Do not use your own 
  • Incorporate
  • Open a separate business bank account
  • Get all necessary licenses and permits 
  • Make sure you have a professional business website


It’s important to note that having an EIN will not mean you do not have to provide your Social Security Number when you apply for a business loan. 

You will definitely have to provide it for identification purposes, and for most lenders, you would have to provide it anyway so they can check your personal credit. 

So why bother with an EIN? Why is it even a requirement? You want as much separation between you and your business as possible, and an EIN supports that. 

The separation helps with liability protection when combined with your choice of business structure, and it helps the business look more professional to lenders. 

Good Personal Credit

You know you need good personal credit for a personal loan. If you have bad credit, it can be almost impossible to get approval. Personal credit can make a difference when you apply for small business loans as well. 

Virtually all lenders, and certainly all traditional lenders, will check your personal credit score even for a small business loan. Generally speaking, you need above 700 for approval, though this is one factor where lenders can vary greatly. 

Those lenders that approve business loans with lower credit scores typically charge higher interest and offer terms that are less favorable to the borrower. 


Lenders do not want to lend money to a business that isn’t making sales. You have to have some revenue on the books to get approval for most 100K business loans. 

Profit isn’t necessarily the golden standard so much as, are you making sales. 

This sounds crazy, and of course, profit is important. However, if you can show lenders how a small business loan can help you increase sales more than expenses, thus increasing profit, you may have a case. 

They know that successful businesses sometimes need to grow to increase profit. But, if sales aren’t happening, that’s an issue. Specific revenue requirements will always vary by lender and industry.  

Time in Business

How to Get a 100k Business Loan Credit SuiteNewer businesses are going to have a harder time getting a $100,000 small business loan than older, more established businesses. That’s not to say it’s impossible. However, lenders have to mitigate risk. 

A small business that has not been in business for long is going to have a hard time proving sustainability, and thus represents a higher risk to lenders. There is not really a hard and fast industry standard, but the longer you have been in business the easier it will be to get approval. 

You can apply for a business loan at any time, but approval chances will likely increase at 6 months in business and then increase even more after one year.  

Size and Industry Requirements

If you are applying for an SBA loan from The Small Business Administration, you are going to have to meet their size requirements for a small business. Some lenders also have industry standard requirements. 

This relates to NAICS codes. Some industries are considered riskier than others. As a result, your NAICS code can affect your approval odds. The riskier the industry, the less likely approval. 

If you go get approval, the higher risk will likely mean higher interest rates and less favorable terms.  

Business Plan

As a general rule, a business plan contains an executive summary, which is a complete summary of the small business idea. 

Then comes a description of the small business. What type of business is it? What product or service will it offer? This is where you work to get others excited about your business. 

After that, lay out your plan for getting started. Do you have a marketing plan, an area in mind for location, or an idea of how many employees you will start with? What is your ramp-up plan? 

Don’t forget to include market research. This needs to be both an analysis of the audience and an analysis of competition. 

In the end, you’ll explain your plans for design, development, operation, and management, just before the financial information.  


To have the best chance at approval for 100K business loans, you’ll want to have security. This can be either collateral in the form of an asset, or a personal guarantee. Both will work even better. The more you can reduce the risk to the lender, the better. 

Secured business loans are both easier to get and typically have lower rates and better terms. Equipment financing falls into this category. 

Just remember, generally speaking, anything you take on yourself to reduce the risk of the lender increases the risk to either your small business or you personally. 

That’s not necessarily bad. Especially if it gets you the funding you need for growth. 

It’s just something to keep in mind as you try to find the best funding options for your small business. 

It's the perfect fit! Up to 150K in unsecured no-doc credit cards for your business even when banks say “NO”.

Best Business Loan Options For A 100K Loan

Online banking lenders are a good option if you hit a wall with traditional lenders. You may want to check with a credit union as well if you can. They may have better rates and terms. Remember that requirements and interest rates vary by lender and change frequently. 

This is especially true right now. Virtually all lenders are tightening up requirements, and it’s only going to get worse. If you need business financing, don’t wait. Apply now so you can have loan funds before they get even harder to access. 


If you start with a search for an online lender, Fundbox is going to pop up. They offer a line of credit. Repayments are automatic, meaning they draft them electronically, and they occur on a weekly basis. That’s important to note, as it’s different from the standard monthly payment. 

One thing to remember is that, due to the unique repayment terms, you could have a payment as high as 5 to 7% of the loan amount you have drawn currently. 

This is because the repayment period is comparatively short.  This means you need to be sure you have enough funds in whatever account you connect them to so that it can cover your payment each week.  

Their business loans go as low as $100 and as high as up to $100,000, but the max initial draw is $50,000. Though there is no minimum credit score requirement, they do require at least 3 months in business and have revenue and business bank account balance requirements. 


Credibly is also a good option for business loans for startups if you are already generating some revenue. They require at least $15,000 per month in deposits, so if your cash flow fluctuates, that might be an issue. You’ll have to provide the most recent 3 months’ business bank statements. 

They offer short-term business loans for both expansion and working capital. You must be in business for at least 6 months to qualify, and they will approve business loans to those with credit scores as low as 500. 


This is a line of credit of up to $250,000 for those who are eligible. You can qualify in as little as 10 minutes. Terms are 6, 12, or 18 months, and you have to be in business for more than one year. They also currently require an average monthly revenue of $3,000. 

The Kabbage fee structure is unique. According to their website: 

Kabbage Funding loans incur a loan fee for each month you have an outstanding balance. There are no origination fees or prepayment penalties. Late payment fees may apply as explained in the loan agreement. Total monthly fees incurred over the loan term range from 2-9% for 6-month loans, 4.5-18% for 12-month loans, and 6.75-27% for 18-month loans, and are subject to change for future loans drawn under the available line of credit. Loans incur a loan fee for each month you have an outstanding balance. Not all customers will be eligible for the lowest fee.”

The minimum credit score is 640 at the time of this writing. 

Kabbage is now known as American Express Blueprint.

Credit Line Hybrid™

The Credit Line Hybrid is unsecured business funding, like an unsecured loan. It allows you to fund your business without putting up collateral. 

It’s revolving credit, meaning you only pay back what you use, more like credit cards than term loans.  You may also be able to pull a cash advance from the line.

To qualify, your personal credit score should be at least 700.  In addition, you can’t have any liens, judgments, bankruptcies, or late payments.  Inquiries need to be low as well. There are other requirements also. 

If you do not meet all of the requirements, it’s okay. You can take on a credit partner that meets each of these requirements.  Many business owners work with a friend or relative to fund their business.  

If a relative or a friend meets all of these requirements, they can partner with you to allow you to tap into their credit to access funding. 

It's the perfect fit! Up to 150K in unsecured no-doc credit cards for your business even when banks say “NO”.

Can a Startup Get Approved for a $100,000 Business Loan?

It’s possible, but it’s not easy. While you may be able to meet a shorter time in business requirements, meeting the revenue and deposit requirements can be a little harder if you are a startup. 

The Credit Line Hybrid can work well for startups for a number of reasons because the time in business and revenue requirements aren’t an issue. Not only that, but no collateral is necessary. 

Even better, the ability to take on a credit partner helps with any requirements not met. 

This works well especially because it isn’t limited in use. It can function as a working capital loan, but you can use it for anything.

If you are struggling to get 100K business loans as a startup, make sure you have your business set up properly, and apply with starter vendors. You can use vendor credit to help run your business, and as you do, your business credit report will only get stronger. 

Then, you’ll be more likely to meet the requirements for a $100k business loan with more lenders. Not only that, but the door will open for other types of financing as well. This may be term loans, vendor credit with better terms, and maybe even a business credit card. 

Credit Suite can help you find the lenders that offer the funding you can get right now, including if you qualify for term loans or a business credit card. We can also help you apply for the Credit Line Hybrid. 

Want to know more? Get in touch today for a free Business Finance Assessment. Lenders are only going to tighten up more. Don’t wait. The time is now.

About the author 

Faith Stewart

Faith has a BBA with a major in Accounting, and a combined 20 years of experience in the fields of finance and account.

Before switching to writing, she spent 10 years working in various areas of small business and personal finance and accounting, including working as a public auditor at BKD, LLP, Financial Director at Central Arkansas Development Council, and Commercial Credit Analyst at Farmer's Bank and Trust.

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