The First Step In Securing Food Truck Financing Is Trying

Food Truck 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.

Is your dream to enter the food truck industry? Is the only thing holding you back the initial cost of a food truck? If so, you are not alone, but you can still enter the food truck industry.

One might be wondering how? After all, you need money to buy a food truck and the inventory, and that is just the beginning. Simple. By getting a loan via food truck financing.

You see, the first step to getting approved for some financing is trying. Like all things in life, if you don’t put your name in the ring, then you will never know if something is possible.

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.

If you don’t try to get a loan for your mobile kitchen, then how do you know if it’s possible or not?Food Truck Financing

A prospective owner might be saying that he/she has bad credit. Sure, that will certainly make getting a loan for a mobile catering truck an uphill battle, but that doesn’t mean you should eliminate the option altogether. It just means you should prepare.

Prepare? What do we mean by that? Simple. Find a cosigner who does have good credit and save up some money for a downpayment. If you have any form of collateral (such as a home), then that will certainly help you during your food truck financing journey.

You May Also Like...  Throwback Thursday: Get Insurance For Your Food Truck

Okay, that sounds like it could work, but how am I supposed to come up with cash for a downpayment when I am trying to get money in the first place? That’s a valuable question, but we will counter with this: The downpayment might not be that much in the grand scheme of things.

Looking to build a new custom food truck? Check out this link for more details!

Not to mention, your downpayment is only being used to secure the loan. Once you get the financing that you desire, you will ideally have enough money to get your food truck business started, which is the main goal. Depending on how much you are trying to get from the bank, your downpayment might not be that much money at all, and it also might not take that long for you to come up with it.

Not to mention, many people use their financing money as startup cash, which can be used to, well, get your business started. It can be used for office space (your food truck), inventory, hiring employees, keeping your company afloat until you start making steady cash via your food truck business, etc.

Food Truck Financing

The key takeaway? The first step in securing food truck financing is trying. If you want to join the food truck industry bad enough, then you will find a way to make it happen. Not everyone has $50,000 to $100,000 saved up to join this industry, and that’s okay, because that’s where food truck financing comes into play.

RELATED: The Ins And Outs Of Getting Food Truck Financing. Where there’s a will, there’s a way.

You May Also Like...  10 Ways Food Truck Owners Can Break Up Their Days

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

Condiments That Foodies Can’t Get Enough Of Can you imagine a hot dog or hamburger without condiments? While both foods would still taste amazing, and would likely still be dished out at food trucks far and wide, condiments give these two class...
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...
Are You Currently Living Out Your Dream In 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...
3 Things That Will Make Or Break Your Food Truck Business As a food truck business owner, you have a lot on your plate (metaphorically and literally). You are not only a chef, but you are likely managing an employee or two on top of that. Plus, you have t...
Flashback Friday: Use Apps To Simplify Your Food Truck Business We live in a day and age in which the internet is literally taking over the world, and that is a good thing when said internet is used properly. For example, if you use it to help your business, li...
Why It’s Okay If Entrepreneurs Fail In The Food Truck Industry The word "fail" gets a bad rap. After all, we don't associate some of the most successful people in the world with failure, we associate them with success. However, every successful person comes fa...
FS013- All About Your Food Truck Website Food trucks live and often rely on social media, but what about a food truck's website? How important is a website for your truck, and what are the best practices for running a useful site that...
FS012- What I Wish I’d Known Before Starting My Food Truck The most popular article on FoodTruckr is one titled: 50 Food Truck Owners Speak Out: “What I Wish I’d Known Before Starting My Food Truck". In fact, this was the very first post ever published on...
2 Simple Yet Effective Ways To Gain More Exposure At Your Food Truck So many food truck owners -- especially the ones just breaking into the industry -- desire more customers, greater sales and an ever-increasing revenue. That's what keeps a business afloat (and thrivi...
The 12 Days of FoodTruckr: 12 Reasons We Love Food Trucks On the twelfth day of Christmas, FoodTruckr’s giving you… 12 Reasons We Love Food Trucks! Merry Christmas, FoodTruckrs! We’ve had such a great time celebrating the holidays with you, and we couldn’t...
How to Start a Food Truck 25: Order and Stock Supplies There are just six lessons left in the “How to Start a Food Truck” series, which means that you’re almost ready to open your very own food truck! In last week’s post, we helped you get involved in ...
FoodTruckr Articles That Will Help Mobile Kitchen Owners In The Motivation Department In 2018 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...
2 Things New Food Truck Owners Should Add Into The Mix Right Away 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 Food Truck Business Owners Can Gain More Customers In 2017 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 All Food Truck Entrepreneurs Should Approach Their Goals 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