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  1. #1
    Senior Member Reputation points: 34509 Jstarr's Avatar
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    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, Ste 275 Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    Jerry@insourcefunding.net | insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

  2. #2
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    Food Trucks

    Do they take credit cards?

    I think Rapid does...
    Amanda Kingsley
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    This is me. https://www.facebook.com/whoiskingsley
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    Always Live and Lead with Integrity.

  3. #3
    Senior Member Reputation points: 34509 Jstarr's Avatar
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    ^^ 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

  4. #4
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    Yes.. If they're profitable with sales over 20k monthly, with decent cash flow, we can help them with monthly payments..

    rg@businesscapitalconsultants.com

  5. #5
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    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

  6. #6
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    swift will do it we have funded food trucks with them before , also fora

  7. #7
    Senior Member Reputation points: 34509 Jstarr's Avatar
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    Food Trucks

    I appreciate all the responses... Thank you.
    Jerry Starr
    Insource Funding
    433 Plaza Real, Ste 275 Boca Raton, Fl 33432
    P: 800-805-3391 Fx: 561-270-6895
    Jerry@insourcefunding.net | insourcefunding.net

    WHAT WOULD YOU DO " IF " YOU HAD THE CAPITAL

  8. #8
    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

  9. #9
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    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?

  10. #10
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    Quote Originally Posted by JSL23 View Post
    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?
    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.

  11. #11
    Senior Member Reputation points: 2019 Lenders.Marketing's Avatar
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    I couldn't help myself from bringing back this classic Food Truck picture from Sean...

    FoodTruck.jpg
    3110 Main Street
    Building C
    Santa Monica, CA 90405

    info@lendersmarketing.com
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    Direct (805) 765-6459
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    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

  12. #12

    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

  13. #13
    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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