Compare $100,000 Business Loans

Looking for a $100,000 business loan? Whether you're expanding your business or starting a new project, $100k can give you a big leg up. We’ll help you compare options to find the perfect fit. Let’s dig in!

Fact Checked
business loans

$100,000 business loan comparisons on Mozo - last updated 21 June 2024

Search promoted business loans below or do a full Mozo database search. Advertiser disclosure.

Refine the list of business loans

Let’s help find you a great business loan...
  • Featured Product
    Boost Business Loan

    Whether you’re looking for a quick cash boost for your business or are ready to invest in growth, ScotPac offers a range of unsecured and secured loans from $10,000 up to $500,000. For loan terms of 6 months to 3 years. No application or account keeping fees to pay. Funds available in 24 hours or less once approved. Repayment options available.

    Interest Rate
    Upfront Fee
    Funding speed
    On application
    Details on application
    From 24 hours
    Details
  • Business+ Unsecured Loan

    A simple way to fund your business’s big plans. Borrow up to $50,000 without using your assets as security. A fixed interest rate means your repayments don’t change over the life of the loan. Apply in minutes with the Business app. Enjoy a fast approval process. $495 establishment fee.

    Interest Rate
    Upfront Fee
    Funding speed
    Rates range from 11.95% p.a. to 22.95% p.a.
    $495
    Varies
    Details
  • Unsecured Business Loan

    Business Loans from $5,000 to $5,000,000 with high approval rates. Access to funds on loans up to $500,000 in as little as 3 hours. Cash flow friendly repayments and open minded offers.

    Interest Rate
    Upfront Fee
    Funding speed
    On Application
    3%, starting at $399
    from 3 hours
    Details
  • Unsecured Business Loan

    A straightforward business loan with no hidden Lumi fees or charges. Speedy application and approval process with fast access to funds according to Lumi.

    Interest Rate
    Upfront Fee
    Funding speed
    from 9%
    -
    Within same day
    Details
  • Prospa Plus Business Loan

    Prospa uses risk-based pricing to determine your interest rate. They look at factors including your industry, years in business, cash flow, creditworthiness and the overall financial health of your business.

    Interest Rate
    Upfront Fee
    Funding speed
    Interest rates vary based on risk.
    3.5%
    from 24 hours
    Details
  • Business+ Unsecured Overdraft

    Manage the cash flow in your business with ease. Access up to $50,000 without using your assets as security. Lending criteria apply. Access your available limit from your linked Business+ Account. Use your Debit Mastercard for added convenience. Interest is charged on your balance owing, not your limit. Easy online application. $495 establishment fee.

    Interest Rate
    Upfront Fee
    Funding speed
    Rates range from 14.95% p.a. to 25.95% p.a.
    $495
    Varies
    Details
  • Invoice Finance

    Increase cashflow by unlocking the power of your receivables with Octet’s Invoice Finance solution. Receive up to 85% of your debtor’s ledger with tailored facilities ranging from $100K to $12M.

    Interest Rate
    Upfront Fee
    Funding speed
    0% for the first 60 days, then rates starting from 9% p.a.
    On Application
    Instant on approval
    Details
Search now

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.

Business Banking Resources

Reviews, news, tips and guides to help find the best business loan for you.

What can I use a $100,000 business loan for?

When it comes to business financing, a $100k loan opens up a world of possibilities for substantial investments, including:

  • Expanding operations

  • Scaling up production

  • Launching new products or services

  • Hiring additional staff

  • Marketing campaigns on a larger scale

  • Upgrading technology and infrastructure

  • Acquiring or merging with other businesses

A $100,000 loan can be a powerful tool for the right business. If you have a clear plan for investing this money wisely, and you're confident in your ability to repay the loan, then it may be worth exploring your loan options.

What types of $100k business loans are available?

When considering a $100,000 business loan, it's useful to first grasp a few key loan concepts:

  • Collateral requirement. Loans are categorised as secured (requiring collateral) or unsecured (with no collateral required). Secured loans typically come with lower interest rates, since there’s less risk to the lender. 

  • Loan lengths. The duration of your loan can vary from short-term (ranging from 3 months to 2 years) to longer-term arrangements (lasting 3 to 10 years).

  • Interest rates. You'll find options for fixed rates, which provide predictable repayment schedules, or variable rates, which might start lower but are subject to market changes over time.

Understanding these basics, here are the primary types of $100k business loans:

  • Term business loans. With these, you’ll borrow a fixed amount and pay it back over an agreed timeframe. 

  • Equipment financing. This option is meant specifically for purchasing business equipment, with the equipment usually serving as collateral.

  • Line of credit. A line of credit allows you to draw funds up to a certain limit (for example $100,000) as needs arise.

Below, you’ll find a table that compares these options in detail, helping you weigh their pros and cons:

Term Business Loans

Equipment Financing

Line of Credit

Secured/Unsecured

Can be either

Typically secured

Can be either

Interest Type

Fixed or variable

Fixed or variable

Fixed or variable

Ideal For

Large investments like expansion or major projects

Purchasing or upgrading business equipment

Short-term financing needs, emergency funds, cash flow management

Pros

  • Suitable for large, one-time expenses

  • Straightforward repayment schedule

  • Asset serves as collateral, potentially leading to lower interest rates.

  • Provides a reusable credit line

  • Only pay interest on drawn amounts

Cons

  • Longer repayment terms

  • Fixed schedules limit flexibility

  • Limited to equipment purposes

  • Depreciating asset risk

  • Potential for overspending

  • Credit limit may not cover all needs

How do I get a $100k business loan?

Nabbing a $100,000 business loan is a huge step for any business, and knowing the best approach can make the process smoother and more manageable. Here’s how you can tackle it:

  1. Choose your lender wisely. Dive into some research on lenders that offer sizable loans like this. Compare terms they offer, including interest rates, loan duration and whether they require any collateral.

  2. Organise your financial information. For a loan of this size, the lender will want a clear picture of your business's financial health. This means having your business's financial statements, recent tax returns and a detailed cash flow forecast ready.

  3. Apply. The application might be online, which is typically quicker, or for more complex situations you might need to do this over the phone or in-person.

  1. Go through the assessment. For larger loans like this, lenders will generally do a lot more due diligence than on smaller amounts. So be patient as they check your credit, evaluate the financial stability of your business, and, if you’re going for equipment financing, appraise the equipment's value. Keep in touch with the lender and be ready to provide any extra information they might need to speed things up.

  2. Receive your funds. Once your loan is approved, how the funds are handled will depend on the loan type. For term loans, the funds are typically deposited directly into your business bank account. For equipment financing, the lender pays the vendor directly. With a line of credit, you can draw funds as needed up to the approved limit.

Navigating the application process with a clear plan can streamline your experience and increase your chances of securing the necessary funding for your business.

Am I eligible for a $100,000 business loan? 

Before you apply for a $100,000 business loan, you'll want to check that you're eligible. While eligibility requirements differ between lenders, some of the more common requirements include: 

  • Being fully registered with an active Australian Business Number (ABN) or Australian Company Number (ACN) 

  • Be in business for a certain amount of time, usually between 6 months and 2 years 

  • Having a minimum annual turnover, which can be at least $40,000 per annum 

  • Having a clean credit score and no outstanding tax bills 

Make sure to check the specific requirements of the business loan you are looking into.

For more flexible business finance options, you may want to consider business overdrafts or business credit cards and lines of credit.

Frequently Asked Questions

How much interest will I pay on a $100,000 business loan? 

A business loan of $100,000 is a significant amount of money, so it’s important to look for a competitive interest rate when you start comparing options.

Interest rates can depend on factors such as the loan term, your business's creditworthiness and the economic environment. Depending on the lender, interest may be charged on a weekly, fortnightly or daily basis. In some cases, there may not be an interest rate with the loan, as the lender could provide you with a customised interest rate if your application is successful. 

That means the amount of interest you’ll end up paying can vary widely based on your unique circumstances. 

But to provide an illustration, suppose you take out a $100k term loan at an annual interest rate of 12.99%, with the interest calculated monthly. Over a 7-year term, your monthly repayment would be approximately $1,818.65. By the end of the loan term, the total interest you would have paid amounts to approximately $52,767. 

What fees will I need to budget for with a business loan? 

Taking out a business loan could see you paying fees like application fees, ongoing fees, valuation fees, exit fees, and any late payment fees if relevant: 

  • Application fees. A one-off fee charged at the start of your loan - keep in mind these can either be written as a dollar figure or a percentage of the total loan amount.

  • Ongoing fees. This is typically a maintenance fee paid each month over the course of your loan.

  • Valuation fees. If you’re taking out a secured business loan, a valuation fee covers the cost of assessing the value of your collateral asset.

  • Late payment fees. As the name suggests, if you’re late to make a repayment on your loan, you could be slapped with a late payment fee. 

  • Exit fees. If you’ve paid off your loan before the loan period ends, you may be asked to pay an exit fee. 

Be sure to read the terms of your business loan to see if any other fees apply.

What do I need to apply for a $100,000 business loan?

Once you’ve found the right business loan for you, you'll want to have all the necessary documents needed for smooth application. The details you’ll need to submit an application will depend on the lender, however some of the more common documents you might be asked to provide are: 

  • Your drivers licence 

  • Your ABN or ACN 

  • Financial information, such as your bank account and tax records

  • A business plan