{"id":26329,"date":"2023-01-13T10:27:11","date_gmt":"2023-01-13T10:27:11","guid":{"rendered":"https:\/\/swoopfunding.com\/au\/uk\/sectors\/food-trucks\/"},"modified":"2024-12-18T19:37:11","modified_gmt":"2024-12-18T19:37:11","slug":"food-trucks","status":"publish","type":"sectors","link":"https:\/\/swoopfunding.com\/au\/sectors\/food-trucks\/","title":{"rendered":"Food trucks"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"26329\" class=\"elementor elementor-26329\" data-elementor-post-type=\"sectors\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1917af68 elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"1917af68\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4b7d81ec\" data-id=\"4b7d81ec\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-14e48221 elementor-widget elementor-widget-heading\" data-id=\"14e48221\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Business loans for a food truck<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7c6ce31e elementor-widget elementor-widget-text-editor\" data-id=\"7c6ce31e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Think of street food and you think of delicious dishes served for immediate consumption with just the sky above your head.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-27d56921 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"27d56921\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/app.swoopfunding.com.au\/stage\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get a quote<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7ed8246c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7ed8246c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6dfa78d2\" data-id=\"6dfa78d2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-49f9538 elementor-widget elementor-widget-ucaddon_breadcrumbs\" data-id=\"49f9538\" data-element_type=\"widget\" data-widget_type=\"ucaddon_breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t <div id=\"breadcrumbs-container\" class=\"center\">\n <nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><\/p><\/nav> <\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2ce27b7 elementor-widget elementor-widget-ucaddon_aivoov_player\" data-id=\"2ce27b7\" data-element_type=\"widget\" data-widget_type=\"ucaddon_aivoov_player.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t<div class=\"aivoov-player-block\">\n\t<div class=\"read_this\">Read this article to me<\/div>\n\t\t\t<style>\n\t\t\t.plyr__controls .plyr__controls__item:first-child{\n\t\t\t\tbackground:#2e9c8e !important;\n\t\t\t}\n\t\t\t:root{\n\t\t\t--plyr-color-main:#2e9c8e;\n\t\t\t--plyr-audio-controls-background:#f0f2f4;\n\t\t\t--plyr-audio-control-color:#546a7b;\n\t\t\t}\n\t\t\t[data-plyr=\"mute\"]{color:#2e9c8e !important}\n\t\t\t.aivoov-text-color{color:#546a7b}\n\t\t<\/style> \n\t\t<div class=\"audio_player\">\n\t\t<audio class=\"js-player\" controls=\"\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/a9d6e200-78d7-4760-b591-1dd3e05bc274.mp3\" type=\"audio\/mp3\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/a9d6e200-78d7-4760-b591-1dd3e05bc274.mp3\" type=\"audio\/ogg\" \/>\n\t\t<\/audio> \n\t\t\t\t <div class=\"powerd_by aivoov-text-color\"><p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/aivoov.com\/?um_source=plugin_powered_by\" style=\"color: inherit;\">Powered by AiVOOV<\/a><\/p><\/div>\n\t\t \n\t\t<\/div>\n\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7728b2dd elementor-widget elementor-widget-text-editor\" data-id=\"7728b2dd\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Fast-food served outdoors is big business and king of the street food industry is the food truck \u2013 a mobile kitchen selling everything from fish and chips, to BBQ, tacos, wraps, rice bowls, curries, smoothies and empanadas.<\/span><span style=\"font-weight: 400;\">\u00a0However, launching a food truck can be expensive and even well-established operators can suffer from seasonal low points or when the weather turns to rain or snow. Securing adequate funding for your food truck is therefore key to long-term success. Read on to find out more about food truck finance and how it can keep your mobile fast-food business firmly on the road.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-19677199 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"19677199\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4e762d4c\" data-id=\"4e762d4c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-52800274 elementor-widget elementor-widget-heading\" data-id=\"52800274\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Why are mobile food trucks becoming popular business choices?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-24f6bd5d elementor-widget elementor-widget-spacer\" data-id=\"24f6bd5d\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3077b585 elementor-widget elementor-widget-text-editor\" data-id=\"3077b585\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Food trucks are a common sight in many US cities, but until recently, they were a rarity in Australia, with menus limited to basic foods such as hamburgers, ice creams, and hot dogs. However, an explosion in take-away food before, during and after the Covid-19 pandemic has seen a boom in food trucks on the streets and now they offer food from every corner of the globe. Popular with sports fans, events and concert goers, as well as office workers and Australia&#8217;s many tourists, food trucks can be very profitable businesses, benefiting from low overhead, an ability to go wherever the customers are, and able to change their food offerings to suit consumer tastes with minimal cost and disruption.\u00a0 <\/span><\/p><p><span style=\"font-weight: 400;\">Today there are more than <\/span><a href=\"https:\/\/www.australiantimes.co.uk\/food\/the-rising-popularity-of-food-trucks-in-australia\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">5000 food trucks<\/span><\/a><span style=\"font-weight: 400;\"> operating in Australia and the mobile street food industry is experiencing growth every year, making food trucks one of the most successful sectors of the hospitality trade.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-640fab6b elementor-widget elementor-widget-spacer\" data-id=\"640fab6b\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56d0b6e4 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"56d0b6e4\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/app.swoopfunding.com.au\/stage\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get a quote<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-559843ed elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"559843ed\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3802042d\" data-id=\"3802042d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1b51f99 elementor-widget elementor-widget-heading\" data-id=\"1b51f99\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How much does it cost to start a food truck?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8404ae5 elementor-widget elementor-widget-text-editor\" data-id=\"8404ae5\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The cost to start a food truck varies widely depending on several factors, such as location, the type of food being served, and the specific needs of the business. On average, starting a food truck can cost anywhere from $50,000 to $150,000. This includes the cost of purchasing and furnishing the truck, which can range from $30,000 to $100,000, depending on whether the truck is new or used and the extent of the customisations needed.<\/p><p>Additional expenses include permits and licenses, <a class=\"waffle-rich-text-link\" href=\"https:\/\/swoopfunding.com\/au\/business-insurance\/\">insurance<\/a>, initial inventory and supplies, marketing, and possibly the hiring of staff. Maintenance and unexpected repairs also contribute to the overall costs, as food trucks require regular checks to remain operational and meet health and safety standards. Fuel costs and parking fees are ongoing expenses that can add up over time.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4a08e61a elementor-widget elementor-widget-heading\" data-id=\"4a08e61a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What types of loans are available for food trucks?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b89c096 elementor-widget elementor-widget-text-editor\" data-id=\"2b89c096\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Whether you wish to buy an existing food truck business, start from scratch with a new or used van, pay for equipment, cover day to day expenses, or pay franchise, registration or other startup costs, there\u2019s a loan for every food truck owner and entrepreneur.<\/span><\/p><h3><b>Personal Loans<\/b><\/h3><p><span style=\"font-weight: 400;\">Popular with newcomers to the food truck industry and established food truck owners who wish to borrow money without incurring debt on their business, personal loans can often be obtained quickly and with less demand for paperwork than commercial funding. Your personal credit and finances will be key to securing the funds you need. Personal loans are usually more expensive and the sums of cash available smaller than may be obtained with most business loans.<\/span><\/p><p><span style=\"font-weight: 400;\">Typical personal loans:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Personal term loan: A fixed sum borrowed over a fixed term. Security may be required.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Personal credit cards: Easy to access but may have high interest rates and fees (especially for a cash advance). No security required.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Crowd funding: Raise cash in small sums from a large group of donors via specialist websites. These funds are not a loan, they are a gift\/investment that you do not have to pay back as long as you spend the cash on whatever you said you would. A creative and eye-catching presentation is necessary to succeed with crowd-funding. It also helps to have a large database of contacts or followers to present your idea to at the outset. No security is required.<\/span><\/li><\/ul><h3><b>Small business loans<\/b><\/h3><p><span style=\"font-weight: 400;\">Commercial finance for small businesses comes in a variety of shapes and sizes. Borrow from as little as $1000 up to $5million. This type of finance is typically more economic and with better terms and conditions than personal loans.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Common small business loans:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Business term loan<\/span><span style=\"font-weight: 400;\">: A fixed sum repaid over a fixed term. Security may be required.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/merchant-cash-advance\/\"><span style=\"font-weight: 400;\">Merchant cash advance<\/span><\/a><span style=\"font-weight: 400;\">: Borrow against your credit\/debit card receipts. The higher your card sales are, the more cash you may borrow. In many cases, no additional security is required.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Startup loans<\/span><span style=\"font-weight: 400;\">: Valuable seed cash to get your food truck on the road. <\/span><span style=\"font-weight: 400;\">Government funds<\/span><span style=\"font-weight: 400;\"> may be available for this purpose. Security may be required.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Franchise finance<\/span><span style=\"font-weight: 400;\">: Cover the joining fee and startup costs of a franchised food truck business. Security may be required.<\/span><\/li><\/ul><h3><b>Finance lease<\/b><\/h3><p><span style=\"font-weight: 400;\">If you wish to buy a new or used van to convert into a food truck, a <\/span><a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/finance-lease\/\"><span style=\"font-weight: 400;\">finance lease<\/span><\/a><span style=\"font-weight: 400;\"> will help you secure the vehicle you need with a lower deposit and lower monthly payments than a standard hire purchase agreement. You have the right to buy the vehicle outright at the end of the contract period for a pre-agreed sum. May include an excess mileage surcharge. Additional security not required.<\/span><\/p><h3><b>Business line of credit<\/b><\/h3><p><span style=\"font-weight: 400;\">Also called a <\/span><a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/revolving-credit-facility\/\"><span style=\"font-weight: 400;\">revolving line of credit<\/span><\/a><span style=\"font-weight: 400;\">, this type of business lending functions like a standard bank overdraft but is provided by an independent lender. Dip into the facility to borrow cash on an \u2018as-needed\u2019 basis. Borrow up to a pre-agreed maximum, then as you pay funds back, you can borrow them again and again during the term of the agreement. Ideal for working capital, or to cover sudden and unplanned expenses. (Such as your food truck needing emergency repairs). Security may be required.<\/span><\/p><h3><b>Equipment loans<\/b><\/h3><p><span style=\"font-weight: 400;\">Fitting out a food truck with cooking and food storage equipment can be expensive. Plus, you may need extra freezers, refrigerators and food processing machinery back at base. Use a finance lease, or <\/span><a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/asset-finance\/\"><span style=\"font-weight: 400;\">asset-finance<\/span><\/a><span style=\"font-weight: 400;\"> to buy this equipment over time. Pay for the machinery as you use it to make money for your business. In most cases, no additional security is required.<\/span><\/p><h3><b>Microloans<\/b><\/h3><p><span style=\"font-weight: 400;\">Microloans have relatively short repayment periods, offer small loan amounts and little or no security is required. Available from peer-to-peer lending websites, or from specialist small loan providers, (such as pay day lenders), microloans are typically more expensive than other forms of borrowing.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-537a10c1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"537a10c1\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4b82274d\" data-id=\"4b82274d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-203ec42e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"203ec42e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-57a36b8a\" data-id=\"57a36b8a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2677515c elementor-widget elementor-widget-heading\" data-id=\"2677515c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What do I need to get a loan for my food truck?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-df6b81f elementor-widget elementor-widget-text-editor\" data-id=\"df6b81f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Preparation is key. No matter if you are seeking funds to buy a food truck, <\/span><a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/working-capital-loans\/\"><span style=\"font-weight: 400;\">cover everyday expenses<\/span><\/a><span style=\"font-weight: 400;\">, or pay your tax bill, the lender will need full business details, and in many cases, a detailed business plan. Additional to these core requirements, most lenders will also seek some, or all, of the following information:<\/span><b><\/b><\/p><ul><li aria-level=\"1\"><span style=\"font-weight: 400;\">Most recent three-years bank and tax records. (Business account if you are an established food truck owner, personal account for entrepreneurs launching their first food truck business).<\/span><\/li><\/ul><ul><li aria-level=\"1\"><span style=\"font-weight: 400;\">Cashflow forecast.<\/span><\/li><\/ul><ul><li aria-level=\"1\"><span style=\"font-weight: 400;\">Profit and Loss Statement and recent Balance Sheet. (Established food truck businesses).<\/span><\/li><\/ul><ul><li aria-level=\"1\"><span style=\"font-weight: 400;\">Details of any existing debt.<\/span><\/li><\/ul><ul><li aria-level=\"1\"><span style=\"font-weight: 400;\">List of any major customers and suppliers.<\/span><\/li><\/ul><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">List of any assets, such as property or inventory.<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b1e372e elementor-align-center elementor-widget elementor-widget-button\" data-id=\"5b1e372e\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/app.swoopfunding.com.au\/stage\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4386295 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4386295\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-81e22e1\" data-id=\"81e22e1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2e10445 elementor-widget elementor-widget-text-editor\" data-id=\"2e10445\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h3><b>Industry experience<\/b><\/h3><p><span style=\"font-weight: 400;\">Although many lenders to the hospitality trade prefer to work with seasoned food truck operators, a lack of previous experience in the industry may not be a hurdle for newcomers if their business plan, financial projections and available security are strong enough.\u00a0<\/span><\/p><h3><b>Business plan<\/b><\/h3><p><span style=\"font-weight: 400;\">After hard collateral as security, your business plan is the most important element of any loan application. Lenders will be seeking solid information. This includes accurate financial forecasts, a feasible marketing schedule, details of partners and co-directors, and an exit strategy that reveals the long-term goal of the business. Borrowers who may struggle to assemble this document are advised to seek the services of a hospitality business-development professional before applying.\u00a0<\/span><\/p><h3><b>Deposit<\/b><\/h3><p><span style=\"font-weight: 400;\">Apart from startup loans and some <a href=\"https:\/\/swoopfunding.com\/au\/business-loans\/working-capital-loans\/\">working capital finance<\/a>, such as merchant cash advances, there are few food truck loans that do not require a deposit (security) from the borrower. This may be provided as a cash input, or in the form of collateral, such as property and hard assets. The deposit sum will vary depending on the type of loan provided and the borrower\u2019s financial situation.<\/span><\/p><h3><b>Personal finances<\/b><\/h3><p><span style=\"font-weight: 400;\">Some lenders may ask for a personal guarantee by the business owners or directors to secure the loan. If they do, they will check their personal finances and credit scores. The stronger they are, the better. Don\u2019t get caught out by an error on your credit report, always check your <\/span><span style=\"font-weight: 400;\">business<\/span><span style=\"font-weight: 400;\"> and personal credit scores before you apply.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-adb7468 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"adb7468\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3d7ccef\" data-id=\"3d7ccef\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2495d36 elementor-widget elementor-widget-heading\" data-id=\"2495d36\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How to find the right loan for your food truck<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-655586f elementor-widget elementor-widget-text-editor\" data-id=\"655586f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Funding for food trucks is a niche financial area, with differing rules of application. Entrepreneurs and food truck owners seeking this type of funding may find themselves forever searching and making applications to lender after lender. <\/span><\/p><p><span style=\"font-weight: 400;\">The delays this can create could cause you to lose business and leave your food truck vulnerable to the competition. Instead, working with a broker, who can access food truck loans from a wide range of lenders is a better way to go. No more cold calls and endless demands for information. Even if you\u2019ve been turned down elsewhere or have bad credit, simply tell us what you need and leave the rest to us.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-eb5ac42 elementor-widget elementor-widget-heading\" data-id=\"eb5ac42\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Is financing a food truck a good idea?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8ac8d7e elementor-widget elementor-widget-text-editor\" data-id=\"8ac8d7e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Financing a food truck can be a good idea, but it depends on your financial situation and business plan.<\/p><p>It allows you to spread out the initial costs, making it more manageable to start your business without needing a large amount of capital upfront. This can help protect your cash flow for other key expenses, such as inventory, permits, and marketing. However, it also means taking on debt and committing to monthly payments, which can impact your profitability and financial stability if the business does not perform as expected.<\/p><p>It&#8217;s important to carefully assess your estimated revenue, costs, and ability to repay the loan before deciding if financing is the right choice for your food truck business.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7efbeae elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7efbeae\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ffb1df0\" data-id=\"ffb1df0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1be3f87 elementor-widget elementor-widget-heading\" data-id=\"1be3f87\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Get started with Swoop's business funding platform<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-efbd825 elementor-widget elementor-widget-text-editor\" data-id=\"efbd825\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Don\u2019t get left behind in Australia&#8217;s food truck craze. Register with Swoop to find the best rates, the best terms and the best loans for your food truck business.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-79b4aa8b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"79b4aa8b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4b711dd4\" data-id=\"4b711dd4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0c804c2 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"0c804c2\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/app.swoopfunding.com.au\/stage\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-93bf53e elementor-widget elementor-widget-spacer\" data-id=\"93bf53e\" data-element_type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-48e2ce7 e-flex e-con-boxed e-con e-parent\" data-id=\"48e2ce7\" data-element_type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-52d0689 elementor-widget elementor-widget-ucaddon_author_page\" data-id=\"52d0689\" data-element_type=\"widget\" data-widget_type=\"ucaddon_author_page.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t\n\n\n <div class=\"info-user-post\">\n \n <div class=\"left-info\">\n <a href=\"https:\/\/swoopfunding.com\/au\/author\/chris-godfrey\/\" aria-label=\"Chris Godfrey\">\n <picture loading=\"lazy\" decoding=\"async\" class=\"attachment-large size-large\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/chris-godfrey-author.webp\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/chris-godfrey-author.webp?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <\/picture>\n <\/a>\n <\/div>\n \n <div class=\"right-info\">\n <div class=\"inner-top\">\n <div class=\"info-top\">\n <div class=\"info-title\">\n <p>Written by<\/p>\n <p class=\"name-author\"><a href=\"https:\/\/swoopfunding.com\/au\/author\/chris-godfrey\/\">Chris Godfrey<\/a><\/h3>\n <\/div>\n <\/div>\n \n \n <\/div>\n <div class=\"info-bottom\">\n <p>Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Barclays Bank, Metro Bank, Wells Fargo, ABN Amro, Quidco, Legal and General, Inshur Zego, AIG, Met Life, State Farm, Direct Line, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of consumer and business finance and insurance.<\/p>\n <\/div>\n\n <ul class=\"social-links\">\n <li><a href=\"https:\/\/www.linkedin.com\/in\/christopher-godfrey-332198139\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Linkedin\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/au\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-linkedin-min.svg\" width=\"30\" height=\"30\" alt=\"Linkedin\">\n <\/a><\/li>\n \n \n <li><a href=\"https:\/\/www.freelancewords.co.uk\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" aria-label=\"Website\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/au\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-site-min.svg\" width=\"30\" height=\"30\" alt=\"Website\">\n <\/a><\/li>\n <\/ul>\n\n <div class=\"swoop-promise\">\n <p><strong>Swoop promise<\/strong><\/p>\n <p>At Swoop we want to make it easy for SMEs to understand the sometimes overwhelming world of business finance and insurance. Our goal is simple \u2013 to distill complex topics, unravel jargon, offer transparent and impartial information, and empower businesses to make smart financial decisions with confidence.<\/p>\n <p>Find out more about Swoop\u2019s editorial principles by reading our <a href=\"https:\/\/swoopfunding.com\/au\/about-swoop\/editorial-policy\/\">editorial policy<\/a>.<\/p>\n <\/div>\n\n <\/div>\n <\/div>\n\n \n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5ffdcdf e-con-full cta-mobile-fixed elementor-hidden-desktop elementor-hidden-laptop elementor-hidden-tablet e-flex e-con e-parent\" data-id=\"5ffdcdf\" data-element_type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;position&quot;:&quot;fixed&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-958f5de elementor-align-justify elementor-widget elementor-widget-button\" data-id=\"958f5de\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/app.swoopfunding.com.au\/stage\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">GET A QUOTE<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"author":26,"featured_media":26309,"parent":0,"template":"","business-sectors":[1660],"class_list":["post-26329","sectors","type-sectors","status-publish","has-post-thumbnail","hentry","business-sectors-business-loans"],"acf":[],"featured_image_urls_v2":{"full":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled.jpg",2560,1709,false],"thumbnail":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled-150x150.jpg",150,150,true],"medium":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled-300x200.jpg",300,200,true],"medium_large":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled-768x513.jpg",768,513,true],"large":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled-1024x684.jpg",1024,684,true],"1536x1536":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled-1536x1025.jpg",1536,1025,true],"2048x2048":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled-2048x1367.jpg",2048,1367,true],"image_blog":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled-408x252.jpg",408,252,true],"image_blog_full":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled-1775x660.jpg",1775,660,true],"image_podcast":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled-397x298.jpg",397,298,true],"image_banking":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled-30x20.jpg",30,20,true],"image_blog_internal":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled-840x480.jpg",840,480,true],"image_blog_medium":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled-1024x500.jpg",1024,500,true],"image_single_banking":["https:\/\/swoopfunding.com\/au\/wp-content\/uploads\/sites\/4\/2023\/02\/brewery-finance-featured-scaled-80x53.jpg",80,53,true]},"post_excerpt_stackable_v2":"<p>Business loans for a food truck Think of street food and you think of delicious dishes served for immediate consumption with just the sky above your head. Get a quote Fast-food served outdoors is big business and king of the street food industry is the food truck \u2013 a mobile kitchen selling everything from fish and chips, to BBQ, tacos, wraps, rice bowls, curries, smoothies and empanadas.\u00a0However, launching a food truck can be expensive and even well-established operators can suffer from seasonal low points or when the weather turns to rain or snow. Securing adequate funding for your food truck&hellip;<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Chris Godfrey","url":"https:\/\/swoopfunding.com\/au\/author\/chris-godfrey\/"},"comments_num_v2":"0 comments","_links":{"self":[{"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/sectors\/26329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/sectors"}],"about":[{"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/types\/sectors"}],"author":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/users\/26"}],"version-history":[{"count":34,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/sectors\/26329\/revisions"}],"predecessor-version":[{"id":39351,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/sectors\/26329\/revisions\/39351"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/media\/26309"}],"wp:attachment":[{"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/media?parent=26329"}],"wp:term":[{"taxonomy":"business-sectors","embeddable":true,"href":"https:\/\/swoopfunding.com\/au\/wp-json\/wp\/v2\/business-sectors?post=26329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}