Results 1 to 13 of 13
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12-09-2014, 11:23 PM #1
Food Trucks
Has anyone funded food trucks ? Or had any experience with them , I have a few calling me with sales averaging 35- 40k per month.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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12-10-2014, 10:11 AM #2
- Join Date
- Jul 2014
- Location
- Online
- Posts
- 965
Food Trucks
Do they take credit cards?
I think Rapid does...Amanda Kingsley
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12-10-2014, 10:53 AM #3
^^ Yes, and doing very well, like i mentioned in the post the CC Sales Are about 35-40K - Gross 60K. - i wouldn't think rapid, swift or can would touch something like that. but ill give it a shot. thx
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12-10-2014, 11:01 AM #4
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
Yes.. If they're profitable with sales over 20k monthly, with decent cash flow, we can help them with monthly payments..
rg@businesscapitalconsultants.com
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12-10-2014, 11:03 AM #5
- Join Date
- Dec 2013
- Posts
- 4,713
Cresthill Capital will take a look at food truck operators as long as they have a town/city license to operate business and does not expire before 2016.
We pay commissions day after funding on the Payback amount. (we are currently running SPIFF 8% on the payback / 11.6% on funded for files over 25K)...
SIGN-UP TODAY
bizdev@cresthillcapital.com
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12-10-2014, 02:44 PM #6
- Join Date
- Apr 2013
- Location
- NY
- Posts
- 203
swift will do it we have funded food trucks with them before , also fora
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12-10-2014, 04:31 PM #7
Food Trucks
I appreciate all the responses... Thank you.
Jerry Starr
Insource Funding
433 Plaza Real,
Boca Raton, Fl 33432
P: 800-805-3391 Fx: 561-270-6895
insourcefunding.net
WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL
◆ 50% LTV - No Fico Required
◆ 90% CLTV on Purchases
◆ Investment Residential / Commercial Properties
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12-12-2014, 10:52 AM #8
- Join Date
- Feb 2014
- Posts
- 54
Last month, here is a scenario that we did for a Food truck client:
Food truck business in CA doing $1.2 million per year and drowning in 4 separate cash advances that they had stacked out. We took their strong financials and got them an MCA consolidation loan for 120k. This got them into a monthly payment program and extended their term to 3 years – bringing their monthly debt service down from 13k to 6k
If you have clients in a similar scenario feel free to reach out.
Sam Tiburzi
Finance Store
240-345-3314
sam@financestore.com
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12-13-2014, 08:23 PM #9
- Join Date
- Jan 2014
- Posts
- 283
I've honestly never even spoken to one about an MCA. Some obvious opportunities tend to stare you in the face and yet we miss them....... I'm in NYC so there are so many food vendors I can approach them on foot easily. My question is: Are they treated the same, from an Underwriting perspective as a normal Restaurant or is there an increased amount of risk?
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12-15-2014, 05:14 PM #10
- Join Date
- Apr 2013
- Location
- NY
- Posts
- 203
Problem with many of them in NYC in my experience is that many do not report the vast majority of income. They show very little sales on paper. Most of the cash goes right into their pockets. The food trucks that we have funded have been bigger ones, doing 800k to 1.3 mill annual sales, with multiple trucks. From our UW perspective, as long as they are doing minimum 30k a month in deposits, we treat them as normal restaurants because their location is typically key to them doing that kind of volume, so we do not see it as much of a risk that they will just disappear with our funds. If they are only doing 10 or 15k a month then it would fall into our starter program.
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12-15-2014, 05:55 PM #11
I couldn't help myself from bringing back this classic Food Truck picture from Sean...
FoodTruck.jpg3110 Main Street
Building C
Santa Monica, CA 90405
info@lendersmarketing.com
www.lendersmarketing.com
Direct (805) 765-6459
Toll-Free (888) 988-2867
Fax Number (818) 925-9686
We connect Lenders with their future clients
Check out how our Business Loan Triggers work:
http://www.lendersmarketing.com/busi...-triggers.html
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12-30-2014, 10:47 PM #12
- Join Date
- Dec 2014
- Posts
- 93
Food Trucks
We can fund food trucks. please contact me if I can be of assistance. edreselly@wbl.com
Erin Dreselly
World Business Lenders
81 Market Sq., Suite 7
Newington, CT 06111
Direct: 860-549-2419
Cell: 860-692-4636
Fax: 860-499-5413
Email: edreselly@wbl.com
Web: www.wbl.com
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01-07-2015, 12:55 PM #13
- Join Date
- Jan 2015
- Posts
- 37
My name is Robert Glass from Premium merchant funding. We do all kinds of cash advance providing working capital for all kinds of business's in need of immediate next day cash for whatever reason whether being for business growth or pay off some bills up to $2,000,000 based on your past 4 bank statements. Please give me a call and we can discuss further. We also do credit card processing and i can guarantee to give you a lower late that what you are currently paying.
Premium Merchant Funding
40 Wall St NY,NY
Robert Glass
RGLASS@PREMIUMMERCHANTFUNDING.COM
Office- 315 215 1374
Cell- 347 447 1790
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