Term Loan Food On The Road
Author: Stephanie Clarke
Date posted: 12.05.22

A restaurant owner in Lakeland, Florida, had made quite a name for himself by bringing authentic Cuban foods to a sit-down restaurant. He was beloved for the food he provided and for giving back to his community. While he enjoyed making his family’s recipes, Lakeland was a small town, and he wished to expand his clientele.

He wasn’t ready to open a new restaurant. He immensely enjoyed only having one brick-and-mortar store as it was easy to manage, and he trusted his staff to take care of work when he took days off. But he still felt that his food could be enjoyed by more than just the surrounding area.

 

He had heard about food festivals and truck rallies in cities like Orlando and Tampa. It was an exciting idea he’s thought about for the past few months. It would give him the added exposure he was looking for, and those towns weren’t too far of a drive if people wanted to come out and visit his restaurant.

 

When looking at purchasing a food truck, he was a little intimidated by the price of a brand-new truck with a new kitchen. When talking to the sales rep, they would even add in customized graphics to put around the truck with his company’s logo. It would certainly be an investment, but he knew it would pay off in the end.

When looking into financing, he knew it would take a bit extra work to find a lender who would give him a loan of one hundred and seventy-five thousand dollars. Due to the large amount, he knew that they would need to take the vehicle as collateral and that funding could take some time as this vehicle would be tied to his business.

 

In the end, he chose a Term Loan over five. He had an excellent FICO score and has been in business for five years already with his restaurant. Because he didn’t have any outstanding debts, his loan was approved quickly, and he could finance the food truck within forty days.

 

Once the wrapping was done on the vehicle, he was happy to get into the kitchen and start planning his menu. He brought in his head chef, and they created a quick and easy menu that anyone, Cubans included, would enjoy. They signed up for their first Food Truck rally the following month and were excited at the prospects.

Within a year, they had grown their reputation outside of Lakeland and were infamous around Florida. His restaurant business has increased from various out-of-towners wanting to enjoy a full Cuban meal, and he’s hired more staff to keep up with the demand for take-out orders.

 

He’s hired as a full-time Food Truck chef and sous-chef, and they are about to embark on their first Food Festival in Georgia. The owner hopes to bring his family’s food to other regions in Southeast America.

About The Author | Stephanie Clarke

Stephanie has a bachelor's degree in psychology and has been a professional writer for over 15 years. Her client list includes New York Times bestselling authors, publishing houses, prominent public figures and successful business owners. She resides with her family in Florida.

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