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...  How You Know You Need More Financing For Your Food Truck Business

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...  Should You Spend A Lot Of Money For Your Food Truck's Grand Opening?

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

If Food Truck Owners Are Lacking In This Area, They Will Not Succeed 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...
Everything FoodTruckr Published Last November That Can Do You Wonders This November In hopes of helping food truck owners conquer the month of November in 2017 (and the rest of the year on top of that), we decided to gather up every article from last November and put it in one place ...
Throwback Thursday: The How To Start A Food Truck Guide Is Still Changing The Game For Food Truck Ow... If you're thinking about joining the food truck industry, or are relatively new, then we have quite the Throwback Thursday treat for you. For the purposes of this week's Throwback Thursday article,...
5 FoodTruckr Articles That Will Do You Wonders In The Financing Department If you are trying to enter the food truck industry but can't come up with the necessary funds to make this dream come true, then we have quite the treat for you today. Likewise, if you are struggling ...
FS023- What to Expect Early in Your Food Truck Career with Conor and JP of Copper Chefs Smooth starts are rare in the food truck world, as Conor and JP know all too well. As owners of Copper Chefs Food Truck and Catering, they've endured their share of trials and tribulations bringing th...
Food Trucks: Do You Include These Steps When It Comes To Your Goals? More likely than not, you take your goals very seriously, and you also follow through with them. You are a food truck owner, after all, and becoming a food truck owner in the first place likely involv...
How Are You Using Digital Marketing For Your Food Truck Business? While digital marketing is different for every business, and many people might think it's for business owners who are trying to sell a product or service, it's also essential for food truck owners. ...
How Food Truck Owners Can Get Messenger Bot Subscribers While we aren't saying every food truck owner will achieve marketing success by incorporating Facebook Messenger marketing tactics (because every business is different), we do believe it can help if d...
Lessons Food Truck Owners Can Learn From Dreamers No matter what industry you are trying to conquer -- yes, even the food truck industry -- you have to be two things: A dreamer and a doer. If you are a dreamer, then you tend to come up with amazin...
FoodTruckr Heroes: East Side King We’ve been talking lately in the “How to Start a Food Truck” series about how to buy an affordable food truck with all the right equipment for your business. After all, the inside of your truck is inc...
How Do Mobile Apps Actually Help Food And Catering Industries? Editor’s Note: Today we’re excited to present a guest post from Ashni Sharma. Ashni is currently working with AppsChopper as a mobile developer. Having extensive knowledge about apps and a flair for w...
Advanced Food Truck Tactics: Stop Getting Screwed By Crap Events If you're already running a food truck, there's something we need to talk about. Because I'll put money on the fact that you either have been or currently are getting screwed by crap events. To help, ...
3 Tips For Hiring Your First Employee At Your Food Truck Business 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...
How To Improve The Quality Of Your Food Truck Customers Who Find Your Business Online Many food truck owners focus on cooking food, serving customers, and finding new locations. While those are the types of ingredients that are going to keep your food truck in business and your cust...
3 Steps To Become A Food Truck Owner 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...

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