Based in East Windsor, 24 HR Truck Services brings new technology to the transportation ecosystem. They have developed and launched mobile apps and dashboard integrations to create on-the-road linkage and support for fleets, drivers, mechanics, and vendors in the trucking industry.
Founder Aaron Swan opened the company in 2018 with the goal of innovating the transportation industry. He says that the systems that support road operations are severely fragmented.
"Almost 71% of all goods in the USA are transported by trucks and 41% of all trucking jobs are held by minorities - so 24 HR Truck Services looked at why there were no solutions for this problem,” Swan says.
"We quickly realized that all parties participating in the transportation ecosystem including fleets, owner operators, mechanics, vendors, etc. lose hundreds of millions of dollars due to unexpected roadside emergencies, driver management, lack of automation, and an inefficient way to connect to nationwide services,” said Swan in his profile on SMBX’s website.
24 HR Truck Services is the latest in a wide-range of Mercer County Businesses who have taken advantage of the benefits of the Mercer County Small Business Investment Program that help raise capital funds for qualified companies.
The transportation company is working through the S MBX marketplace to raise $50,000 in capital marketing for a new business acquisition.
Swan says the company’s revenue grew by 30 times from 2023 to 2024. The investment through the capital raise will help them launch and support a major marketing campaign to expand the business.
Furthermore, Swan believes that his company is a smart investment for marketplace support as they have done a great deal of work to grow the company, including creating mobile apps and dashboard integrations to create on-the-road linkage and support for drivers, mechanics, fleets, and other transportation vendors.
“No longer would independent drivers be stuck on the road or fleets not have reliable access to support across the country. No longer would mechanics be unable to find work and worry about showcasing their specialized skill set,” said Swan. “The time saved, increased operational efficiencies, and seamless access to resources across the country contribute to a healthier infrastructure for both companies, fleets, drivers, and mechanics.”
SMBX and the Mercer County Office of Economic Development work as a team on behalf of county-based businesses like 24HR truck services.
Business organizations and chambers of commerce, including the Princeton Mercer Regional Chamber, the AACCNJ, the Capital Region Minority Chamber of Commerce and the Latino Merchants Association, help to market the program and provide technical assistance to small businesses to prepare them to raise capital through SMBX.
How does the program work?
Businesses can raise money by issuing Small Business Bonds on the SMBX marketplace.
Instead of borrowing from a bank, businesses borrow from investors in their community and across the country, paying them back monthly at fixed interest rates through SMBX.
Small businesses are not required to provide a personal loan guarantee.
SMBX completes the underwriting at no cost, the business then reviews it, and SMBX files it with federal regulators.
The SMBX marketing team works with the business owners to offer and promote their raise.
Once the raise is completed, the business makes monthly fixed payments to its investors, so it knows exactly what to expect for its cash flow.
By purchasing Small Business Bonds in $10 increments through the Mercer County Small Business Investment Program, investors can earn a meaningful monthly return by lending money to their favorite local small businesses while gaining more control over their money.
To qualify, a small-business needs to:
Have a physical business located in Mercer County;
Be a for-profit business registered with the State of New Jersey, and formed on or before April 10, 2023;
Have 30 employees or fewer, with part-time equating to one-half a full-time employee;
Make less than $10 million in gross revenue;
Know that preference is given to those businesses that have not received specific business grant assistance from the federal, state, or local government entity; and,
Not be a national franchise, real estate business, or independent consultants who are not eligible.
Businesses who are looking for more information about the Mercer County Small Business Investment Program should contact SMBX by CLICKING HERE.
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