What can I use food truck financing for?

You can use food truck financing to pay for a new or used food truck. The loan can also pay for equipment you need to prepare food, marketing materials for your business, and gas and insurance for the vehicle. 

How profitable is a food truck business?

Food trucks are a $2 billion industry and have been growing at a steady rate of 7% for the past 10 years. Many Americans have started fulfilling their dream of entrepreneurship by starting a restaurant on wheels and a significant number of food trucks are minority-owned businesses.

Some of the best cities to operate a food truck in include Seattle, Portland, San Francisco, Minneapolis, Denver, Orlando, and Boston.

Can you finance a food truck with no credit check?

Most lenders require a credit check to offer food truck financing. Still, you may find some food trailer financing options for bad credit. Eligibility for these loans are based more on other factors such as your income, business plan, and whether you have experience in the food industry.

This means you may be required to already be making money with your business to qualify for funding. For example, Square offers no credit check loans to current Square sellers. 

About the Author

 Choncé Maddox

Choncé Maddox

Certified Financial Education Instructor (CFEI)

Choncé Maddox is a Certified Financial Education Instructor (CFEI) and personal finance freelance writer.

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