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 payment | Monthly |
| Repayment terms | 12 to 36 months |
| Annual interest rate | 33% to 35% (APR) |
| Type of rate | Fixed |
| Origination fee | $90 in California, $0 in Florida (included in the APR) |
| Requirements |
*Our startup loans might not be available everywhere. |
Learn more about our startup loans
Microloans | |
|---|---|
| Amount | $5,000 to $30,000 |
| Type of payment | Monthly |
| Repayment terms | 24 to 36 months |
| Annual interest rate | 28.50% to 57% |
| Type of rate | Fixed |
| Origination fee | 6.99% of the amount |
| Requirements |
|
Learn more about our microloans
Small Business Loans | |
|---|---|
| Amount | $10,000 to $400,000 |
| Type of payment | Monthly |
| Repayment terms | 24 to 36 months |
| Annual interest rate | 21.75% to 27.5% |
| Type of rate | Fixed |
| Origination fee | 5% of the amount |
| Requirements |
|
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:
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. | |
|---|---|
 Hire StaffTo 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. |  Expand Your MenuCustomers make great suggestions regarding new items they would buy. With a food truck loan, you can increase your revenue by providing more choices. |
 Decorate, Maintain And Repair your Food TruckPeople 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. |  Buy A Food TruckWhen 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. |
 Upgrade EquipmentWorking smarter, not harder, means purchasing newer equipment that’s more efficient. Mobile restaurant financing can give you the funds to do just that. |  Invest In MarketingYou can attend new events, expand your social media presence, or create a new brand to market your products and services. |
 Cover Unexpected ExpensesSet 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. |  Rent Office SpaceRunning 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. |
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.
 | 1. Start With The ApplicationWe 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 DocumentationWe may need more information from you to make a loan decision. Examples include bank statements or your ID. | 3. View The Final Loan TermsWe 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 CapitalNow 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.
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
FAQs |
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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. |
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