Food Truck Financing & Business Loans

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The Food Truck Industry in 2020

The market size of the Food Truck Industry in the U.S in 2020, measured by revenue is $1.1 Billion and growing fast. (In 2010 the industry in revenue was approximately 4.5 million.) The market size of the Food Truck industry in the US has grown 4.1% per year on average between 2015 and 2020.

Food trucks may seem like fun, but they require serious planning to be profitable and sustainable. The food truck business is not just about your passion for food. It’s a combination of choosing the right truck and equipment, razor-sharp planning utilizing proper time management, efficient food cost management, marketing/social media, knowing what events are profitable and what you should not participate in and most importantly making people happy with your product, the food! 

How you spend your time is extremely valuable to the success of your food truck business. The time cleaning, shopping, prepping, menu development/adjustments, driving, emails, interacting with staff and employees, marketing, increasing catering sales, etc. will make your head spin! So, you’ll need food truck financing that works with you and your need for working capital, equipment financing, and other small business requirements. Your business plan relies on different ways to finance food truck operations — and you need a reliable partner like AdvancePoint Capital by your side.

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AdvancePoint Capital makes the loan application process a simple, straightforward experience.

The 9 Best
Food Truck Small Business Loan Options

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Long Term Business Loans

Business Line of Credit

Business Line of Credit

SBA Loan

Small Business Administration (SBA) Food Truck Loans

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Business Credit Cards

Short-Term Business Loan for a California Small Business icon

Short Term Business Loans

Invoice Financing

Business Cash Advance

Merchant Cash Advance for a California Small Business

Merchant Cash Advance

Equipment Financing for a California Small Business

Equipment Financing

Invoice Financing

Invoice Financing

The Primary Factors Affecting the Food Truck Industry

Low Capitalization (Not Enough Cash Reserves)

This is a problem for all businesses, let alone food truck owners. It’s important to make sure you have enough cash reserves to be able to handle all issues that come your way as a food truck operator.

Licensing & Regulatory Issues

A new venture that requires a down payment, upfront capital, recruiting key employees, initiating a new business relationship, or research and development.

Equipment Costs

The cost of the food truck and the cost of the equipment and the cost to maintain that equipment will be a constant challenge to address. That’s when equipment financing and other food truck financing avenues are a constant need for your business plan.

Marketing Costs and Efforts

Using social media is a must to get the word out and maintain a following. That may not cost you much in money unless you have to hire someone for graphics and messaging, but the time and effort to drive your message sure will. Without the expertise in this area, this sure can be a drain on time, money, or most importantly business. If you don’t have a robust marketing strategy in your business plan, food truck financing isn’t going to lift you off the ground. The faster you start your advertising and marketing campaign, the better off you’ll be.

Day to Day: Time and Money

The balancing act of all the responsibilities, preparation, and planning of operating the food truck versus the actual time serving food to customers.

Economic Conditions

Food truck owners benefit from growth in consumer spending. During times of recession, the inevitable spike in unemployment leads to declining consumption. When consumer spending is high, consumers are more likely to spend money on dining out, including food truck owners.

High Competition

Competition is a competition. You need to understand how to compete not only with other food truck operations in your market but also with brick-and-mortar restaurants that have similar concepts and cuisines. This does not need to be a bad thing though. Working with others to organize events in your region you operate in is a must — so competition is a double edge sword. Helping each other succeed is the best approach when it comes to food trucks.

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Why Does Your Food Truck Need a Business Loan?

The food truck world is a highly competitive and ever-changing industry. There are a lot of factors that can impact the need for a loan or food truck financing. Make sure that you know why you need particular financing options before pulling the trigger. Having the right loan on your side at the right time is a must.

Cash Flow

Operating a Food truck is a complicated venture that has a lot of moving parts to it. There are a variety of issues that can impact the cash flow of the business. It’s important to have a business credit facility in place to control the ups and downs of the food truck business and stabilize cash flow, especially for working capital. Various loan options and food truck financing solutions can free up cash flow and start food trucks down the right path.


It can really be an issue being stuck on the side of the road thinking about all the profits being lost on your way to an event. Having the credit facility at your fingertips can be a game-changer. Food truck financing isn’t just for expanding, sometimes it’s great to have financing options available for unforeseen times.

Truck Expansion/Repairs

So you thought picking the menu and concept was tricky! The Food Truck design and functionality itself is something that has to be well thought out and refined throughout the life of a food truck. Not to mention all the repairs along the way such as HVAC, engine troubles, transmissions to simple things like water service, plumbing, and crazy power steering, the food truck can be both your best friend and your greatest adversary. You may need to be a food truck operator, plumber, electrician, and part-time mechanic all in one. Sometimes buying a new truck is not an option and repairs are the way to go.

Advertising/Marketing costs

Social Media and standard marketing expenses will be necessary for the success of your food truck. Without a marketing budget, it will be difficult to compete and build a customer base.

Equipment Purchases

There are always new types of equipment being developed and new items that will demand equipment changes, not to mention the unexpected repair. Equipment financing is available to defray those costs and not negatively impact your balance sheet or cash flow. Financing a food truck requires a lot of equipment and specialized tools, so you’ll need a small business ally by your side.

Advice, Tips, Warnings about Business Loans for Food Trucks

Your food truck business financing search should begin with a question: What am I using the money for and how will it benefit the business? Are you aware of all the different types of business financing products that are available in the marketplace? Do you know issues you may run into when getting approved? (Such as; credit issues, cash flow issues, time in business, financial statement issues).

It is always best to take your time in looking through all the options that are available. Always consider a cost versus benefit analysis and what business financing option will work best. 

AdvancePoint Capital helps business owners search in a streamlined process, using our Business Product Marketplace so you don’t end up wasting time or more importantly your hard-earned money. We always say at AdvancePoint that choices give you the freedom and opportunity to make better decisions. If you shop and compare, you will always save!

Why AdvancePoint Capital?

  • Experience– with Non-profits. We have been funding nonprofits for years.
  • Trust-Excellent reviews and feedback from Nonprofits 
  • Loan Specialists –Experiences Business funding specialists who know the nonprofit
  • No cost, no commitment quotes

Products– A variety of nonprofit Loan Products. We don’t just offer what we have, we offer what’s available in the marketplace

How to Apply for Food Truck Financing

Applying for a loan with AdvancePoint Capital is as simple as a 1, 2, 3, 4 process. Start with this online form, then fill out the short application page, wait a few hours for your approval, and then get your money!

Frequently Asked Questions

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