What Financing Can Do For Your Food Truck Business

Financing

Editor’s Note: Today we’re excited to present a guest post from JSL Financial. JSL Financial specializes in providing hassle-free financing for small and medium sized businesses. You can find out more about JSL Financial by checking out their website.

Are you trying to break into the food truck industry but simply don’t have the funds to make that happen? Perhaps you have enough money to buy your truck but you don’t think you can make it work in the short-term because you are literally spending your life savings on the initial launch of your business. Have you ever thought about food truck financing to get your business started?

If not, then now is the time to start looking at that route to get you started. After all, you can’t follow the dream that is owning and operating your own food truck until you actually buy one.

Sign up to receive the FoodTruckr Newsletter and we’ll throw in our free guide: 6 Free Social Media Tools to Get People Talking About Your Food Truck.

Here are a couple of things to keep in mind when it comes to getting food truck financing:

  1. You don’t have to have perfect credit, but if you don’t, then you need a qualified cosigner.
  2. Even if you have perfect credit or a qualified cosigner, you might need cash for a downpayment.
  3. On top of the two points above, you might need collateral to get a good financing deal, and if you don’t have collateral (such as a car or home), you might need even more cash for a downpayment.
  4. If you can show off a business plan, then it will help you get financed, and you might need it if you plan on getting a loan of any kind.
You May Also Like...  2 Ways To Be The Best Food Truck Owner You Can Possibly Be From A Business Standpoint

Let’s get to the main question why we are all here: What can financing do for your food truck business? Well, it can either help you buy your food truck, or it can give you some startup capital to work with.

Looking to start your own food truck? Prestige Food Trucks can do wonders for you in that department.

Not everyone has $50,000 to $100,000 in the bank, so not everyone has enough money to purchase a food truck. That is where financing comes into play — it can help you buy a food truck so you can finally get your mobile kitchen business going.Financing

Startup capital is handy because it can help you buy things like inventory, your food truck equipment and it can also help you stay afloat when you are first getting started. If you really want, you can use this money to hire more employees, which will hopefully give you a break and expand your business in the process.

Not everyone succeeds overnight in this industry, so you might struggle from a financial standpoint early on. In fact, it appears that people rarely succeed overnight. The food truck industry takes a lot of hard work, long hours at the office (aka the kitchen truck) and it takes a whole lot of patience.

RELATED: How To Increase Your Odds Of Getting Food Truck Financing. If you want to increase your chances of getting a loan for your food truck, then this article has your name written all over it.

Nonetheless, if you are trying to break into this industry, then look into financing to get you started. You don’t have to have perfect credit to get food truck financing, but it will be an uphill battle if you don’t. Regardless, it is possible to get financing. The first step is trying.

You May Also Like...  How To Maximize Your Food Truck Revenue In The Mobile Kitchen Industry

Looking for financing to start or grow an existing food truck? JSL Financial has you covered.

To dig your teeth into what FoodTruckr has to offer, make sure to like us on Facebook and follow us on Twitter, and also make sure to check out more content that we bring to the table.

Recently on FoodTruckr

Throwback Thursday: A Look Back At When The Food Truck Growth Kit Arrived In the spirit of it being Throwback Thursday tomorrow (Jan. 11), let's go back in time to May 26, 2015. On that day, a growth kit was released that changed the game, and it is known as The Food Tru...
3 Reasons Why Food Truck Owners Should Never Give Up On Their Goals It's almost fall, and while that might be music to some people's ears, it might also make other food truck owners cringe. After all, fall being around the corner means winter is almost here as well...
2 Simple Ingredients Food Truck Business Owners Should Add Into The Mix There are so many ways food truck business owners can add more success into their lives, and we are about to unleash two simple ingredients that said business owners should add into the mix immediatel...
Food Truck Friday: Advice For Mobile Kitchen Owners Who Are New To The Industry In the spirit of it being Food Truck Friday, we are about to unleash a ton of advice that is perfect for folks who are new to the mobile kitchen industry. If you can relate, then we highly recommen...
Chicago Food Trucks That Foodies Need To Try Immediately As is typically the case with any city that is flooding with food trucks, it's tough to find the best trucks to eat at in Chicago (because they are all so good). With that in mind, today we are goi...
How to Start a Food Truck 06: Find Prime Parking Last week’s chapter of “How to Start a Food Truck” marked the start of our research unit as we began discussing how to learn about food truck laws and restrictions in your area. Let’s be honest—that w...
The 12 Days of FoodTruckr: 11 Favorite FoodTruckr Posts On the eleventh day of Christmas, FoodTruckr’s giving you… 11 Favorite FoodTruckr Posts! Happy Christmas Eve, FoodTruckrs! In honor of Day 11 of The 12 Days of FoodTruckr, we wanted to take a little...
Happy Birthday, FoodTruckr! Looking Back At One Year of Tasty Business Advice Today is a very special day here at FoodTruckr HQ—it marks the one-year anniversary since we launched our very first blog post and dove headfirst into the food truck community. So, Happy Birthday to u...
3 FoodTruckr Articles That Will Help Owners Out With Social Media Whether food truck owners want to admit it or not, social media is a big deal when it comes to promoting a mobile kitchen business. With social media, you can reach more people, get your truck's na...
3 Things A Food Truck Entrepreneur Should Be Doing Now In Hopes Of Conquering Spring Editor’s Note: Today we’re excited to present a post from Jeremy Adams. Jeremy is the President/CEO of Prestige Food Trucks, which is the world's leading custom food truck manufacturer. In his current...
Flashback Friday: Looking Back At FoodTruckr’s Top Party Food Ideas For The 4th Of July In the spirit of it being Flashback Friday, and the 4th of July being right around the corner, we are about to look back at FoodTruckr's top party food ideas for the -- you guessed it -- 4th of July! ...
Being A Chef Is Your Dream, So Enter The Food Truck Industry Editor’s Note: Today we’re excited to present a post from Jeremy Adams. Jeremy is the President/CEO of Prestige Food Trucks, which is the world's leading custom food truck manufacturer. In his current...
FS001- Tips, Strategies and More with Mike Swaleh from Tikka Tikka Taco and The Great Food Truck Ra... We at FoodTruckr are extremely happy to welcome you to the very first episode of FoodTruckr School! FoodTruckr School is a podcast dedicated to helping you take your food truck business to the ...
How To Gain Back Your Focus At Your Food Truck Are you starting to take a hit in the focus department at your food truck? It's okay if you are, because it happens to everyone ... in any profession. The key is realizing you are losing focus, and...
The 12 Days of FoodTruckr: 7 New Things to Sell On the seventh day of Christmas, FoodTruckr’s giving you… 7 New Things to Sell! We’re hoping today’s new post will bring all of you who are getting ready to start your own food trucks a little inspi...

About the Author

FoodTruckr

FoodTruckr is the #1 online destination for current and aspiring food truck owners looking to succeed in the mobile food industry. Self described “food truck devotees,” the FoodTruckr team enjoys reading about successful entrepreneurs, salivating over photos of burritos on Twitter, and long walks through food truck parks. Chat with FoodTruckr on Facebook or check out the FoodTruckr School podcast for more awesome tips to level up your business.

Love it? Share it: Share on Facebook Share on Twitter