Food Truck Financing: Compare the Best Loan Options
Both traditional and online lenders offer loans to help you purchase a new or used food truck for your business.
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| Lender | NerdWallet rating | Best For | Max loan amount | Min. time in business | Min. interest rate | Term length | Learn more |
|---|---|---|---|---|---|---|---|
 with Fundera by NerdWallet | Read expert review | low interest rates | $750,000 | 24 months | Undisclosed | Up to 5 years | with Fundera by NerdWallet |
 with Fundera by NerdWallet | Read expert review | startups | $150,000 | 6 months | Undisclosed | 24 months to 5 years | with Fundera by NerdWallet |
 with Fundera by NerdWallet | covering upfront costs | $1,000,000 | 24 months | Undisclosed | Undisclosed | with Fundera by NerdWallet | |
 with Fundera by NerdWallet | Read expert review | large loan amounts | $5,000,000 | 24 months | 9.75% | Up to 25 years | with Fundera by NerdWallet |
 with Fundera by NerdWallet | Read expert review | fast financing | $250,000 | 24 months | 5.99% | 12 months to 5 years | with Fundera by NerdWallet |
 with Fundera by NerdWallet | bad credit | Undisclosed | 6 months | 7.5% | 24 months to 6 years | with Fundera by NerdWallet | |
 with Fundera by NerdWallet | Read expert review | working capital needs | $100,000 | 6 months | 39% | 12 to 24 months | with Fundera by NerdWallet |
food truck financing options: More details
Bank of America: Best for low interest rates
Bank of America offers competitive interest rates on its food truck loans. Preferred Rewards members may also qualify for interest rate discounts.
Bank of America - Equipment loan
with Fundera by NerdWallet
Max loan amount
$750,000
Min. credit score
700
Term length
Up to 5 years
Pros
- Competitive interest rates.
- Longer repayment periods.
- Bank of America’s Preferred Rewards program can offer interest rate discounts and other perks.
- Fee discounts available for veteran-owned businesses.
Cons
- Charges an origination fee.
- Prepayment fees may apply to early repayments.
- Can be slow to fund.
- Application cannot be completed online.
Pros
- Competitive interest rates.
- Longer repayment periods.
- Bank of America’s Preferred Rewards program can offer interest rate discounts and other perks.
- Fee discounts available for veteran-owned businesses.
Cons
- Charges an origination fee.
- Prepayment fees may apply to early repayments.
- Can be slow to fund.
- Application cannot be completed online.
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National Funding: Best for startups
You may be able to qualify for food truck financing from National Funding with just six months in business.
National Funding - Equipment financing
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Max loan amount
$150,000
Min. credit score
600
Term length
24 months to 5 years
Pros
- Funding in as little as 24 hours.
- Prepayment discounts available.
- Offers loans to startups and borrowers with bad credit.
- No collateral or down payment required.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Requires higher annual revenue than other online lenders.
- Can't be used to built business credit.
- Charges an origination fee.s a factor rate that makes it more difficult to compare costs with other lenders.
Pros
- Funding in as little as 24 hours.
- Prepayment discounts available.
- Offers loans to startups and borrowers with bad credit.
- No collateral or down payment required.
Cons
- Charges a factor rate that makes it more difficult to compare costs with other lenders.
- Requires higher annual revenue than other online lenders.
- Can't be used to built business credit.
- Charges an origination fee.s a factor rate that makes it more difficult to compare costs with other lenders.
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U.S. Bank: Best for covering upfront costs
U.S. Bank offers up to 125% financing to help you cover additional costs associated with getting your food truck up and running, such as freight, taxes or warranties.
U.S. Bank - Equipment financing
with Fundera by NerdWallet
Max loan amount
$1,000,000
Min. credit score
Undisclosed
Term length
Undisclosed
Pros
- Offers up to 25% in additional financing to cover soft costs, such as installation, taxes and freight.
- No down payment or blanket lien required.
- Option to finance multiple pieces of equipment on one contract.
Cons
- Can only apply online for transactions under $250,000.
- Interest rates and qualification requirements not disclosed online.
Pros
- Offers up to 25% in additional financing to cover soft costs, such as installation, taxes and freight.
- No down payment or blanket lien required.
- Option to finance multiple pieces of equipment on one contract.
Cons
- Can only apply online for transactions under $250,000.
- Interest rates and qualification requirements not disclosed online.
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U.S. Small Business Administration: Best for large loan amounts
SBA 7(a) loans are available in amounts up to $5 million. These loans can be used to buy a food truck, purchase or upgrade other equipment and cover working capital needs.
Low interest rate
SBA 7(a) loan
with Fundera by NerdWallet
Max loan amount
$5,000,000
Min. credit score
650
Term length
Up to 25 years
Pros
- Large borrowing maximums.
- Interest rates are capped.
- Long repayment terms available.
Cons
- Collateral is typically required.
- Longer processing times than online lenders.
Pros
- Large borrowing maximums.
- Interest rates are capped.
- Long repayment terms available.
Cons
- Collateral is typically required.
- Longer processing times than online lenders.
with Fundera by NerdWallet
Triton Capital: Best for fast financing
You can use financing from Triton Capital to purchase a new or used food truck, as well as other equipment for your business. Funding is available in as little as one to two days.
Triton Capital - Equipment financing
with Fundera by NerdWallet
Max loan amount
$250,000
Min. credit score
575
Term length
12 months to 5 years
Pros
- Can fund within one to two business days.
- No prepayment penalty.
- Flexible repayment options: monthly, quarterly, annually or semiannually.
Cons
- Charges an origination fee.
- Requires higher annual revenue than other online lenders.
Pros
- Can fund within one to two business days.
- No prepayment penalty.
- Flexible repayment options: monthly, quarterly, annually or semiannually.
Cons
- Charges an origination fee.
- Requires higher annual revenue than other online lenders.
with Fundera by NerdWallet
eLease: Best for bad credit
eLease can provide food truck loans to borrowers with a credit score of 550 or higher.
eLease - Equipment financing
4.0 NerdWallet rating
with Fundera by NerdWallet
Max loan amount
Undisclosed
Min. credit score
550
Term length
24 months to 6 years
Pros
- No loan or leasing maximums.
- No minimum revenue requirement.
- Startups and low credit scores accepted.
Cons
- Must apply over the phone.
Pros
- No loan or leasing maximums.
- No minimum revenue requirement.
- Startups and low credit scores accepted.
Cons
- Must apply over the phone.
with Fundera by NerdWallet
Headway Capital: Best for working capital needs
You can use Headway Capital’s business line of credit to fund the ongoing expenses associated with running a food truck.
Headway Capital - Line of credit
with Fundera by NerdWallet
Max loan amount
$100,000
Min. credit score
625
Term length
12 to 24 months
Pros
- Flexible qualification requirements.
- No prepayment penalties.
- Funds available by next business day after approval.
Cons
- Most borrowers are subject to a 2% draw fee.
- Not available in all U.S. states.
Pros
- Flexible qualification requirements.
- No prepayment penalties.
- Funds available by next business day after approval.
Cons
- Most borrowers are subject to a 2% draw fee.
- Not available in all U.S. states.
with Fundera by NerdWallet
What is food truck financing?
Food truck financing typically refers to a loan that’s used to buy a new or used food truck for your business.
This term may also include any type of business loan that’s used to fund general food truck operations. These small-business loans may be used for:
- Purchasing or upgrading kitchen equipment.
- Buying inventory and supplies.
- Hiring staff and making payroll.
- Improving the truck (e.g., signage, maintenance, repairs).
- Covering day-to-day expenses.
» MORE: How to finance used equipment
How does food truck financing work?
Food truck loans are usually structured like other forms of equipment financing, in which the vehicle you purchase serves as collateral on the loan.
- Loan amounts. Up to 100% of the value of the truck you’re looking to purchase or renovate.
- Repayment terms. One to 10 years, based on the projected useful life of the truck.
- Interest rates. 5% to 36% APR, depending on the lender, value of the truck, your down payment and qualifications.
Types of food truck financing
Several types of business loans can be used to finance a food truck. Here are some of the most common options:
Equipment financing
Best for: Financing a truck or equipment with potentially lower rates and easier approval.
Equipment loans are designed specifically for the purchase of business machinery and equipment. You can use equipment financing to buy a food truck, as well as refrigerators, sinks, cooktops and other kitchen equipment.
With an equipment loan, the machinery that you’re purchasing serves as collateral. This built-in physical collateral reduces the risk for lenders — and as a result — they may be more flexible with qualification requirements.
SBA loans
Best for: Established businesses with good credit seeking large loan amounts and long repayment terms.
SBA loans are partially guaranteed by the U.S. Small Business Administration and issued by participating lenders, like banks and credit unions. Both SBA 7(a) and 504 loans can be used for food truck financing.
These SBA loans are available in amounts up to $5 million ($5.5 million for eligible 504 loan projects) with repayment terms up to 10 years when used for equipment purchases. To qualify for an SBA loan, however, you’ll generally need good credit, strong finances and multiple years in business.
Business term loans
Best for: One-time expenses, like inventory, truck upgrades or expansion costs.
A business term loan is a lump sum of capital that you borrow from a lender and repay, over a specific period, with interest. Business term loans are available from traditional and online lenders. Maximum loan amounts, repayment terms and interest rates vary largely based on the lender and your business’s qualifications.
If you’re looking to buy a food truck, a dedicated equipment loan may be a better option. General term loans, however, can be a good option for financing inventory and supplies purchases, business improvements and day-to-day operations, among other uses.
Business line of credit
Best for: Ongoing working capital and covering short-term or unexpected expenses.
A business line of credit allows you to borrow from a set amount of funds and pay interest only on the funds you draw. Once you’ve repaid what you’ve borrowed, you can continue to draw on the credit line. Like term loans, business lines of credit are available from traditional and online lenders — and rates and terms vary.
Credit lines are best suited for the ongoing working capital needs of your food truck. They can also be good to have on hand in case of emergency expenses.
Microloans
Best for: Startups or underserved businesses needing smaller loan amounts.
Microloans are small loans — usually up to $50,000 — that are issued by nonprofits and community organizations. These lenders often focus their financing efforts on traditionally underserved businesses, such as women-owned businesses, minority-owned businesses and more.
Microlenders typically have flexible eligibility requirements and may be willing to work with startups or borrowers with bad credit. These loans can be a good option if you can’t qualify for more traditional financing, as long as your funding needs don’t exceed $50,000.
How much does it cost to finance a food truck?
It can cost anywhere from $50,000 to $200,000 to purchase a new food truck. These custom trucks require a lead time to build. The cost of a used food truck, on the other hand, may range from $30,000 to $100,000. You should be able to use these trucks immediately, pending any required maintenance.
Keep in mind that you may also need to cover soft costs, such as delivery, installation, warranties, taxes and insurance. Some lenders can offer food truck financing that incorporates these costs upfront.
How to get financing for a food truck
If you’re looking for a loan to purchase a food truck — or generally fund your business — here are some tips to help you find the right financing for your needs.
1. Evaluate your funding needs
Determine how much capital you need and how you’re going to use it. If you plan to buy a food truck, consider if it should be a new or used truck. If you opt for a used truck, consider any additional equipment you’ll need to buy or renovations you’ll need to make.
» MORE: Equipment loan calculator
2. Review your qualifications
Most lenders will consider your personal credit score, time in business and annual revenue when underwriting a loan application. Reviewing these business loan requirements ahead of time will give you a sense of where you stand before applying.
To qualify for food truck financing, you’ll typically need:
- Personal credit score: 600+.
- Time in business: Six months or more.
- Annual revenue: $100,000+.
If you’re financing a food truck, determine how much you can afford to put down. Some lenders require a down payment of 10% to 20% of the total loan or project cost. Even when it’s not required, providing a down payment can help you qualify for more competitive rates and terms.
3. Find a vendor and get a quote
When financing a food truck, you’ll typically need to provide an equipment quote as part of your application. Reach out to different vendors to get a quote for the type of truck you want. This will also allow you to compare vendors to see where you can get the best price.
🤓
Some food truck vendors work with financing partners to help you get a loan or lease for a truck. Legion Food Trucks, based in California, for example, partners with Ford Financial. Because these lenders are familiar with the food truck industry and the vendor, they may offer flexible qualification requirements and expedited applications, among other possible benefits. Nerdy Tip
4. Compare food truck loan options
As you research and compare options, consider factors such as available loan amounts, repayment terms, interest rates, funding speed, application process and lender reputation.
5. Prepare and submit your application
Organizing your paperwork ahead of time can help expedite the business loan application process. Most lenders require basic information about you and your business, bank statements, tax returns and business financial statements.
When completing your application, make sure that you provide accurate and up-to-date documentation and answer every question as intended. This will reduce any back-and-forth between you and the lender, allowing you to get approved quicker.
Frequently asked questions
You can finance a food truck through several different sources, including banks, SBA lenders and online lenders. You may also be able to get financing through food truck vendors. These vendors often work directly with lending partners to provide financing.
Repayment terms for food truck financing can range between one and 10 years, depending on the type of truck, your lender and your business’s qualifications. In general, a lender won’t offer terms that exceed the projected useful life of the truck.
A typical down payment on a food truck is 10% to 20% of the total loan amount or project cost. Not all lenders require a down payment, but providing one can help you access better rates and terms.
It’s unlikely that you’ll find food truck financing that doesn’t require a credit check. Some lenders, however, will perform a soft pull of your credit history, which doesn’t impact your credit score.
If you have bad or thin credit, you may still be able to qualify for food truck financing. Because the food truck serves as collateral on the loan, lenders may be more flexible with their credit score requirements.
Last updated on February 19, 2026
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