Get the Wheels Moving with Food Truck Loans
Find Out How Much Cash Your Business Could Receive
Financing Can Be Your Engine for Growth
Food truck loans can bring your culinary business to the next level. As you’ve surely noticed, owning and operating a food truck isn’t cheap. There are plenty of costs that go into the business’s day-to-day. First, there are the costs it takes to produce high-quality food, including buying ingredients and kitchen supplies. Then there are the truck maintenance expenses, which are different than the typical costs of running a brick and mortar restaurant. Not to mention the costs that go toward the licenses and permits required to operate and park the vehicle, insurance, bookkeeping, and other necessary backend expenses. No matter what you need to put the money toward, you can count on a food truck business loan to get the job done.
When you attain food truck financing from an alternative lender, you have the freedom to use your working capital however you see fit. Because you’re the owner of the business, you know what areas need more support. Here are some examples of ways you can spend your food truck loan for your restaurant on wheels.
How You Can Spend Food Truck Loans
Update Your Equipment
Streamline Your Marketing Strategy
Grow Your Menu
Purchase Another Truck
You might be ready to expand by using your food truck loan to buy another truck. According to Forbes, the price range of buying a food truck is anywhere from $50,000 to $200,000. In an article by Roaming Hunger that compiled advice from various food truck owners, many say they wish they had purchased a trailer instead of a truck. Also, plan for the additional costs to get your new truck running, such as fuel and kitchen equipment. A food truck loan can cover the cost of the truck and the additional expenses.
Choose QuickBridge for Your Business Lending Solutions
Simple application process
Business loans of up to $500K2
Receive funds within days
No hidden fees
Early payoff discounts3
Flexible loan term options
Types of Food Truck Business Lenders
If you’d like to consider food truck loans, you might look to multiple sources to get access to working capital. Let’s explore these options:
Many people like the idea of working with large-scale banks, as they provide large amounts of funding for business owners. However, they aren’t always the best solution for small business loans. Banks have difficult application processes, long waiting periods, and high rejection rates. This means after weeks of waiting for approval, you might be back to square one. If your credit history is less than perfect, you may look elsewhere for your food truck loans.
Many small businesses prefer to obtain financing from alternative lenders, as they have higher approval rates than banks. In addition, they tend to be more forgiving of business owners who have previous bad debt or poor credit scores. Obtaining food truck loans from an alternative lender is typically easier and faster than a traditional bank. In addition, many alternative lenders have experience in providing business loans to restaurants and caterers, so they understand the food truck service business as well.
Small Business Loans Designed for Your Food Truck Business:
- Operational Costs
- Truck Maintenance
- Kitchen Equipment
- Marketing Expenses
- Unexpected Bills
- & Much More ...
When you’re searching for the right food truck loans, you may consider multiple alternative lenders. You can look to QuickBridge to provide you with the right balance of autonomy on how you can spend your capital and business guidance that can help you when you’re in a bit of a snag. When you get approved for food truck loans through QuickBridge, you can receive short-term financing in as little as 24 hours. Get in touch with the experts at QuickBridge for immediate access to restaurant financing so you can get your food truck business rolling!