food truck owners
Camino Financial
By: camino-financial
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Food Truck Business Loans

A food truck loan can help you get the capital you need to grow your business.

At Camino Financial, our lending products help mobile restaurant owners face financial challenges to compete in this trending market. We can offer you from $1,500 to $400,000.

Apply now!

What Is A Food Truck Loan?

At some point in your business’s financial journey, you may need to improve your cash flow to sustain your food truck business. A food truck loan is a smart way of doing it.

You’ll have the funds to lease or buy a food truck and equipment or finance specific costs such as marketing or permits. In short, you’ll be able to grow your business.

Some lenders don’t view the food truck industry favorably due to their perceived risk.

However, we offer extensive experience in small business loan financing and are willing to work with customers in underserved markets, such as these types of mobile restaurants and fast food businesses.

Camino Financial’s Small Business Loans For Auto Repair Shops

We have minimal business loan requirements, so you can easily get the funds you need to grow your business.

We can approve your loan even if you don’t have a previous credit history, and you can apply with either an ITIN or an SSN.

These are our small business loan options:

Startup Loans

Amount$1,500 to $7,500
Type of paymentMonthly
Repayment terms12 to 36 months
Annual interest rate33% to 35% (APR)
Type of rateFixed
Origination fee$90 in California, $0 in Florida (included in the APR)
Requirements
  • monthly income of $1,500
  • have a bank account that’s been active for at least 6 months

*Our startup loans might not be available everywhere.

Learn more about our startup loans

 

Microloans

Amount$5,000 to $30,000
Type of paymentMonthly
Repayment terms24 to 36 months
Annual interest rate28.50% to 57%
Type of rateFixed
Origination fee6.99% of the amount
Requirements
  • monthly revenue of or $2,500 (or $30,000 per year)
  • have an active and registered business for at least 9 months

Learn more about our microloans

 

Small Business Loans

Amount$10,000 to $400,000
Type of paymentMonthly
Repayment terms24 to 36 months
Annual interest rate21.75% to 27.5%
Type of rateFixed
Origination fee5% of the amount
Requirements
  • monthly revenue of or $2,500 (or $30,000 per year)
  • have an active and registered business for at least 9 months

Learn more about our small business loans

 

Get a loan

 

How much cash do you need for your food truck? Use our business loan calculator to find out:

Term Loan Calculator


 

How Can Food Truck Loans Help You?

Some mobile food truck business owners begin with a food cart, graduate to a food truck, and may even open a brick-and-mortar restaurant later on.

It all depends on the investments you make, such as food truck equipment, hiring staff, or covering expenses. Consider too these ideas to spend food truck loan proceeds.

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Hire Staff

To keep your business’s momentum at top speed, you need a full or part-time employee.

Access to quick funding means you can delegate some of your responsibilities.

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Expand Your Menu

Customers make great suggestions regarding new items they would buy.

With a food truck loan, you can increase your revenue by providing more choices.

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Decorate, Maintain And Repair your Food Truck

People notice an attractive food truck and take a closer look at what foods and beverages you offer.

Regularly maintaining your truck and your kitchen equipment is essential.

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Buy A Food Truck

When you run out of food or people follow you everywhere, that’s a clear indicator that it’s time for a second truck.

A food truck loan gives you the financial leverage to make that happen.

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Upgrade Equipment

Working smarter, not harder, means purchasing newer equipment that’s more efficient.

Mobile restaurant financing can give you the funds to do just that.

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Invest In Marketing

You can attend new events, expand your social media presence, or create a new brand to market your products and services.

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Cover Unexpected Expenses

Set aside money to cover at least three months of recurring costs to prepare for any eventuality.

This can be used as an emergency fund or in the event of food and operational expenses increasing.

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Rent Office Space

Running food trucks involves more than cooking.

Food truck owners may need separate office space to order inventory, keep the books, and stay up to date on sanitation procedures.

Apply today!

How to Get a Business Loan For a Food Truck Businesses

Our streamlined and straightforward loan application process helps us provide quicker funding to food truck owners.

Follow these steps to apply for a mobile restaurant loan.

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1. Start With The Application

We want to get to know you and your business.

Complete our online loan application with info like your contact information, how much money you need, and your business’s annual revenue.

2. Provide Documentation

We may need more information from you to make a loan decision.

Examples include bank statements or your ID.

3. View The Final Loan Terms

We send a digital copy of the loan agreement, so you can review the loan terms, accept them, and sign and return the document to us.

There are no hidden fees or charges.

4. Receive The Capital

Now you just need to wait to receive the loan directly into your bank account.

The loan process from start to finish is completely electronic and only takes 2 days.

*The process may differ slightly depending on the loan you qualify for.

Why Choose Camino Financial

We’re a financial institution that works hard to differentiate ourselves from other lenders. As a matter of fact, our mission of helping underbanked businesses has allowed us to become the first-ever Neo-CDFI in the country.

We work hard every day for our customers and provide loan products that simply work.

Here are just some of our benefits:

  • We don’t want you to have to wait around for days or even weeks for funding. That’s why we provide an easy online application with an instant credit decision. Plus, you can receive the capital in just 2 days.
  • We offer fixed interest rates and automated payments so you can obtain cost certainty for your loan and never miss a payment.
  • At Camino Financial, we want to make our loans available to many more people. That’s why we accept an ITIN if you don’t have a Social Security Number.
  • Applying for auto repair shop loans with Camino Financial doesn’t include a hard credit pull, meaning it won’t affect your credit.
Get a Quote

Learn More About Food Trucks

How Much Does It Cost To Start A Food Truck?

How to Write a Food Truck Business Plan

How to Expand Your Food Truck Business

How to Start a Food Truck to Expand Your Restaurant

How to Find Angel Investors: Learn From the Experts

 

FAQs

Can I get a loan for a food truck?

Yes, as long as you work with a lender specializing in offering this type of loan, meet their requirements, and qualify for your desired loan amount.

How to get a loan for a food truck?

Getting a loan for a food truck is relatively easy.

Get your documents in order, such as copies of tax returns, bank statements, and financial statements. Review your credit report before contacting a lender to verify any erroneous entries that need correcting.

Then, just apply and wait for a credit decision. You can use our food truck calculator to estimate your payments.

Can you finance a food truck?

As long as you work with a lender that offers food truck business loans, meet their requirements, and have working capital to repay the loan, you should qualify for food truck financing.

Is it hard to get financing for a food truck?

Lender requirements can prevent many borrowers from obtaining financing. For example, some require a minimum credit score, only accept an SSN and not an ITIN, and don’t work with applicants with bad credit.

To get financing for a food truck, it’s a good idea to shop lenders to find the best truck loans with requirements that match your financial situation and business needs.

For example, if you are looking for food truck financing with bad credit, there are still options such as Camino Financial, where no credit score is needed.

How do you fund a food truck?

There are ample ways to fund a food truck, including a business credit card, savings, a business line of credit, a food truck small business loan, a personal loan from family members and friends, and microloans.

How much does it cost to run a food truck monthly?

Renting a parking space averages between $1,000 to $1500, truck fuel and propane $600, insurance and maintenance $400, food handler license $100, and miscellaneous expenses $500 a month.

So on average, you can expect to pay $3,100 per month just to run a food truck.

That estimate doesn’t include employees and associated employer fees, working capital, or permits.

*Terms and requirements subject to change without notice.

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qualify for a loan

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