When I’m talking to a food truck buyer, particularly a first-timer, I ask whether or not they have any capital in reserve. I need to know if something goes wrong they can still make their monthly loan payment.
They often respond “if I had any capital, I wouldn’t be coming to you for a loan!"
Here are two recent stories about food truck entrepreneurs who suffered the consequences of a fire or a blown engine.
http://www.newsobserver.com/living/article209872724.html
http://nooga.com/215767/rolling-js-food-truck-owner-launches-kickstarter-for-new-restaurant/#.WtYfKfRIsZk.twitter
If you’re acting as a lender or lessor, you should make sure your operators have either capital in reserve or the right insurance coverages!
Need help with a food truck loan? Please let me know.
Are you a business who needs equipment financing or working capital?
Marshall Lebovits of Asset Based Funding Solutions has over 30 years of experience in the secured lending industry.
He can be reached at (310) 344-2522 or via email at
Marshall@Funding911.com.
Congratulations to my client, Trademark Brewing, and Sterling Steffen on the successful close of your SBA loan! Thanks for the opportunity to be of service! Looking forward to the grand opening!
