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Food Truck

Food Truck Financing

Food trucks are all the rage today since they remind people of their childhood and add a unique touch to the otherwise conventional food scene. For business owners, these trucks offer the benefit of low investment and ease of interning in the restaurant industry.

In the era of youth spending, conscious consumerism, middle-class expenditure, and mobile lifestyles, an increasing number of first-time business owners are gravitating towards this option. 

Whether starting your first food truck business or expanding an existing one, you need access to additional food truck financing to meet your investment needs. New food trucks generally cost between $50,000 and $250,000. 

On the other hand, used ones can cost you anywhere from $30,000 to $70,000. Your investment will also vary depending on the size of the truck, the equipment included, and the location where you make the purchase. 

To arrange this kind of hefty amount, most business owners need to borrow money to finance a food truck. For this reason, you need to look for dependable food truck financing options to kick-start or upgrade your business. 

Ready to Scale Your Business with Food Trailer Financing?

Even if you are currently the owner of a successful food truck business, the funding needed to buy or improve equipment can be outside of your present generated revenue. Not only will you have to consider the expenses incurred in labor, raw materials, insurance, advertising, and marketing, but you must also take care of specific industry-specific expenses such as permits and licenses, commercial parking and kitchen space, and appliances and décor. 

Financing a food truck is easy; the financing company will carefully evaluate your application to provide you with the best possible service. 

Types of Food Truck Loans

Not all food truck business loans are the same, and depending on your business structure, you might be better off with one but not the other. Below are some of the main food truck startup loans you can choose from.


Small Business Administration (SBA) Loans 

The SBA loan program is designed to minimize the risk to both borrowers and lenders when seeking loans to establish or expand a business. Although the SBA technically does not lend the money, it can help business owners find the right lenders whose loans comply with their guidelines. 

SBA microloans are ideal for potential food truck owners since the loan provides around $50,000 to small businesses to finance various costs, including equipment purchases, inventory, supplies, working capital, and more. Interest rates are also affordable, making it an ideal option. 


Equipment Loans 

Equipment-specific loans minimize the upfront burden of purchasing trucks, machinery, and other products. These loans usually include payment terms that fit the equipment’s lifespan. You can expect a down payment of anywhere between 5% and 20% of the total cost. 


Bad Credit Loans 

If your credit score is not strong, your only option may be to apply for a bad credit business loan. This category of loans require collateral and come with a higher interest rate or other terms that protect the lender.


How To Qualify for Food Truck Financing?

The exact requirements needed to qualify for food truck financing depend on the lending company. Each lender has a different set of criteria, but common determinants on which your eligibility will be judged include the business’s revenue, current debt, business plan, credit score, and other factors. Lenders may also assess the reputation of your business, the number of years you’ve stayed in the industry, and your experience as a business owner.

Business Plan and Documents

If you are looking to finance a startup, you will need to prepare a business plan highlighting your business’s core goals and features. You may have to provide current business documents, proof of registration, business certifications and licenses, your food truck’s registration or license number, and 12 months of financial statements to upgrade your business.

Credit Score 

A credit score of at least 500 is required to finance a food trailer. This score will demonstrate any bad debts, missed loan payments, current borrowing, and other monetary factors that show your reliability as a borrower. A credit score below 680 will require you to leverage your collateral instead of your credit score.



Proof of insurance is mandatory if you want a food truck business loan. You should have an insurance policy that covers the food truck, its equipment and kitchen appliances, and workers’ compensation to ensure the safety of your workers in case of a lawsuit. 

Benefits of Food Truck & Trailer Financing


Food truck financing offers you the startup capital to launch your business. Moreover, it provides a cushion to help you deal with any potential issues that may come your way in the future. Nowadays, many options are available to finance food trucks, making it easy for business owners to browse through them and choose whichever fits their needs best. 

In general, online lenders are more flexible and lenient and offer more options for financing. If you are unsatisfied with one lending company, you can always compare their requirements and other policies. 

Get Started With Us Today


So, are you ready to get your food truck business going? If so, get the expert opinion of our team at National Truck Loans by filling out this form. For further information regarding our financing options, call us at 855-562-6875, and we will be more than happy to help you. Feel free to email us at if you have any questions or concerns, and one of our customer service representatives will get in touch with you shortly.

Why Should You Choose National Truck Loans For Food Truck Financing?


National Truck Loans has been striving for perfection for the past 15 years when it comes to commercial truck financing. We are a boutique private lending company specializing in an array of vehicle loans, starting from $15,000 and above. 


We are a direct lending company, meaning no third-party intermediaries are involved in making the process longer and more complicated. We deal directly with our customers and ensure that the process is transparent, simple, and carefully tailored to their requirements. We understand that financing big commercial vehicles can be overwhelming, so we primarily work to offer you seamless support for your initial and working capital needs. 

If you are worried about not getting a loan for a food truck business due to bad credit, we’ve got your back! A credit score is not the only criterion we look at – other factors such as your general profile, payment history, and collateral also play a huge role. Food truck financing with bad credit has never been easier since we enable new and small business owners with lower credit scores (C or D) to secure loans.

Providing Food Truck Financing For Bad Credit, Great Credit, and Everything In-Between

Food Truck Financing


We will handle your paperwork once we have the signed contract back. Most trades are settled in as little as three days. We can quickly get the truck you need back on the road.


Truck image in Blue background

Chris Cadahia

Great lender without the bureaucracy and gotcha’s from your typical truck finance broker. Really makes a difference when you work with a lender like National Truck Loans that uses their own money to fund loans and know the industry. They’ve been a great financial partner and appreciate the support!

SFL Supply Inc Review

SFL Supply Inc.

National truck loans helped me grow my fleet by several trucks. Very simple, professional and helpful on every step of the way until the end. Recommend to any carrier. Thank you

Juan Insegna Review

Juan Insegna

I had a very good experience. Micheal and Junior helped me a lot, they always answered all my questions and they work very fast. I recommend it.

Good Credit, Bad Credit, No Credit


  • What type of trucks do you finance?
    National Truck Loans is a truck financing company that provides easy truck financing for all types of semi trucks. You can get truck financing for trucks sold either through truck dealers or private sellers. We make truck loans easy no matter the brand of truck you are looking to finance. All brands includes Mack, Peterbilt, Freightliner, Volvo, and even International.
  • Can you finance trucks with bad credit?
    Yes! At National Truck Loans, no matter your credit history, we can help you when other truck finance companies can’t. We have been a truck financing company for many years, so we are familiar with the challenges many faces. If you have bad credit, reach out to us. We can help you; that’s our specialty. We provide finance for trucks with Bad credit, Great credit, and Everything In-between. Our financing program is set to fit your needs.
  • Can I get a truck loan with a tax lien?
    Yes, you can. Even with a tax lien, National Truck Loans can help in truck financing. We are willing to extend credit for you.
  • Do you report to credit agencies?
    When you take a truck loan from us, we report to major credit agencies to rebuild your credit. We have helped many owner-operators to get hold of their credit through our accessible truck financing business.
  • Do you finance anything other than trucks?
    Yes, we do! In addition to commercial trucks, we also finance trailers and engine overhauls!
  • Do you do truck financing for startup trucking companies or new operators?
    Yes, we do. At National Truck Loans, we specialize in truck financing for startup trucking industries and new operators in the trucking business. If you are a new operator and you are in search of trucking finance to help your trucking business, we are here for you. We have all you need to run a smooth business.
  • Do you provide truck financing for higher mileage trucks?
    Yes, we do. We provide truck financing for startup trucking businesses looking to get a truck loan, including for higher mileage trucks. National Truck Loans offers everything you'll need.
  • Is it hard to get a truck loan?
    It is not hard to get a truck loan. Truck financing is more than a good credit score. It would be best if you had a good driving experience and strong revenue generation. If you have a bad credit score history, it is essential to choose trucking finance companies specializing in bad credit loans. We specialize in helping you finance truck expenses and make the most of your business.
  • How does truck finance work?
    Truck financing involves business owners using their trucks as a loan or collateral, which helps to reduce the risk for the lenders. Lenders hold on to the title of your truck until you pay off the truck loan. They may also seize your truck if you do not fulfill your loan obligations. You can find truck financing from traditional banks or truck lending companies. With truck financing, you can start driving your truck with little or no down payment.
  • How long are trucks financed for?
    The average lifespan of a truck loan for a new truck is five years (60 months). It all depends on your down payment. The loan may not exceed three years (36 months) if you buy a secondhand truck.
  • How do I determine my eligibility for a truck loan?
    Various factors determine whether you will get truck financing or not. They include your credit score, years in business, down payment, truck mileage, commercial driver’s license (CDL), tax liens, and truck age. But we at National Truck Loans approve trucking finance for business owners with bad credits, tax liens, or bankruptcy.
  • Can I get access to truck financing without a CDL?
    Yes, you can. Truck financing programs are available for business owners without a CDL. Before applying for a truck loan in a truck finance company, be sure a CDL is not part of the lender’s requirements for financing. Also, the person driving the vehicle may differ from the person paying for the truck. It doesn't matter who is behind the funding as long as a person with a CDL is the driver.
  • Can I finance a truck with bad credit?
    Yes, you can. What some lenders consider bad credit may be satisfactory for another truck lender. This is why it is essential to thoroughly review each lender's eligibility requirements before making your choice.
  • Can I review loan terms and interest rates before getting a loan?
    Of course! When you apply at National Truck Loans, you are free to go through all the details of your loan and ask questions before committing. Our services are fair and transparent.
  • What kind of truck can I buy if I apply for a truck loan?
    When you decide to get truck financing, you can buy any truck of your choice. You can buy yourself a semi-truck, work truck, or commercial truck. There is no limit on what your loan can buy from any truck dealer or buyer. The type of truck your loan can buy depends on the brand, mileage, and features like fuel capacity and engine specifications.
  • How does truck financing benefit my business?
    There are various benefits of using truck financing for your business. Some include flexibility of finances, business growth, and truck ownership.
  • Do I need insurance for truck financing?
    Yes! Before you can get approval for truck financing, you need commercial truck insurance. The insurance you choose depends on what you need to be covered. It would help if you also made sure the insurance costs are what you can afford, together with your loan payments. The most common type of commercial truck insurance are: General liability insurance Non-trucking liability insurance Workers' compensation insurance Primary liability insurance Motor truck cargo insurance Physical damage insurance Bobtail insurance
  • I'm buying a used truck. Does that mean I can't finance it?
    No. The type of truck you are buying doesn’t affect your truck financing. Just like a new truck, a used truck can also be financed. All you have to do is talk to your salesman.
  • What are the things to know before applying for a truck loan?
    There are quite a several things you need to know. You need to ask yourself relevant questions like, Do I want a new or secondhand truck? Can I make a down payment? Will the truck tend to my business needs? Do you understand what truck financing entails? It would be best if you were informed and sure of what your business needs to avoid a bad purchase.
  • What documents do I need to get financing?
    There is no one way to do this. The documents needed for financing vary from one truck financing company to another. But there are primary documents you should prepare: Business License Personal identification Insurance proof Relevant permits CDL Social security number Financial/Tax records Information about the trucks you want to finance. Why do you want to buy them?
  • What is the interest rate on a truck loan?
    No set interest rate. Truck lenders set their rates based on your overall credibility, the type of truck you want, why you want to buy it, and the lender’s requirements. Nothing is fixed, but you can see annual interest between 5% and 50%.
  • How much do I pay as a down payment?
    The standard percentage is 10% of the cost price. But the sales manager will approve a payment that fits your budget for you to enjoy easy truck financing.
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