So, you are looking into financing to start up your food truck, here are a few do’s and don’ts of financing a food truck.
Do Not Take the High Percentage, Huge Monthly Payments Because It Gives You Your Dream
This is a huge problem in the food truck industry, too many high interest loans, and too high of a monthly payment. A lot of our customers have been telling us of our biggest competitors are trying to get them to sign 20% loans where they make percentages on the top of the actual finance company. It is horrible how people in this industry try to maximize their profits and forget that you should be their main focus, not their wallet.
Crowdfunding is free money, with people that are wanting to help people dreams become a reality. It is not going to work for every customer that looks into it, but if the internet believes in your dream, they will help you realize it.
Try Your Bank
A lot of food truck builders will tell you that banks are not lending in this market. 3-5 years ago, that may have been the case, However banks are opening up to food truck loans more and more every day. Please we implore you do not let your food truck builder dictate terms on your dreams, use their financial services only as a back up plan.
Yes we are a food truck manufacturing company, however we believe in growing this industry, and taking care of its great people that are apart of it. We make money on building food trucks, we do not care if you bring your own financing, your own truck, or your own equipment, we care about being the best food truck manufacturer in the world at the most reasonable price.