How much money do you need to start a food truck business?

In general, a food truck business requires an initial investment between $50,000 and $250,000. The exact amount you’ll need will depend on your location, the type of vehicle you purchase, and your particular business goals. 

What credit score is needed to get a food truck loan?

Most lenders require a credit score of at least 680 before they extend food truck financing. But some are more lenient and might offer you a loan with fair credit or bad credit, especially if you have collateral, a down payment, or a cosigner. 

How much does it cost to finance a food truck?

It can cost anywhere from $20,000 to $40,000 to purchase a food truck and customize it to meet your needs. Note that this doesn’t include interest and fees that your lender might charge. 

Is it possible to get financing for a used food truck?

Yes. Many lenders offer food truck financing for used food trucks. A used food truck might be a good option if you’d like to keep your startup costs low and perform a trial run before you buy a newer, more expensive truck. 

How can I get a food truck loan with bad credit?

While it’s more difficult to get a food truck loan with bad credit, it’s certainly possible. You’ll need to shop around and find lenders with more flexible requirements as well as those who allow collateral and cosigners. 

About the Authors

Anna Baluch

Anna Baluch

Personal Finance Writer

Freelance copywriter who enjoys writing for large publications as well as startups, small to medium sized businesses.

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