FINANCING OPTIONS

Financing a food trailer is not like financing a normal vehicle. The available options have evolved over the years, which is why we have worked hard to develop good relationships with credible lenders. Your personal circumstances will determine what financing option is the best fit, so here are some things to consider:

1. Check with your local bank/credit union. We have worked with many banks all over the country and are happy to assist with this step in any way possible. If your bank is willing to help, this is where you are most likely to get the best terms. Unfortunately, not all banks will venture into food truck financing, so this is not always an option.
2. Secure a Business Loan. Business lenders will often look at a mixture of personal and professional financials to determine what terms are available. You must have a registered business, and the longer it has been established, the better. That being said, there are still options available for startup businesses. There are different types of loans that fall into this category, so talking with a professional in this space can be really helpful.
3. Secure a small lease with the option to buy. This can be a good option for those who only need $25,000 of financing or less. Because this option has a lower dollar amount, it is usually the easiest to secure because they have a higher approval rating and offer financing even on lower credit scores.
4.  Secure a personal Loan. If a business loan is not possible, a personal loan could be the right fit. This option can offer up to 100% financing on the cost of the food truck, but typically requires a 700+ FICO score.

BUSINESS LOAN