After reading Kelly's and Susan's answers, I tend to agree in part with both of them. There are things I've looked at in some of my ventures when I didn't have all the capital up front, which included a pre-negotiated sweat-to-cash contract that stated for every 1h of work I put in to the company, it was worth XX amount of dollars in investments towards the company. After all, time is never free!
The bigger picture view though comes from the challenge of whether or not you really need that money all up front. Leasing equipment or buying second-hand should be a strongly considered option when you're talking prices in the range of $100k. A common oversight for people starting new businesses is that long-term savings NEVER keep a company afloat. It's your monthly net revenue that determines the success of your business. The only exception may be property development - everything else lives and dies by monthly net revenue MNR [disclaimer: this is my personal bias based on years of experience and observation].
If you're going to take a loan out to cover that remaining investment, you'll begin monthly payments right away. Why take that personal liability on by yourself? If the company is successful, lease your needs and redistribute that liability onto the company, which is then shared by you and your partner. You can still split the monthly expenses 50/50, and keep the initial capital investment you were originally thinking (though I still maintain that you should define a value for your time as an investment). If your business allows you to cover whatever personal loans you were thinking of, it can surely cover leasing...
In the end, keeping as much of the liability on the corp rather than your personal self is always preferred. Another option is to convince your partner to have the company take out a loan which you both equally secure. This way, again, you keep the credit in the company's name, but use a portion of your personal assets as investments for loan security. WARNING: this is a bad practice, and outside of real estate, most people will tell you that taking out big loans to get started should be avoided as much as possible.
Focus on your MNR, and forget whether it will cost more in 5 years. What's that saying? "A dollar today is worth two tomorrow." (source forgotten).