24 HR Truck Services

24 HR Truck Services

Closed: Sep. 2024

About this raise: 24 HR Truck Services is raising funds on SMBX. It is an auto repair and maintenance company in East Windsor, NJ that leverages mobile applications and dashboard integrations to support drivers, fleets, mechanics, and other transportation vendors. 24 HR Truck Services prevents independent truck drivers from getting stuck on roads. The mobile apps and dashboard integrations of the company aim to save time, increase operational efficiency, and give companies, drivers, fleets, and mechanics access to resources. Aaron Swan founded 24 HR Truck Services in September 2018. The current crowdfunding campaign has a minimum target of $10,000 and a maximum target of $50,000. The campaign proceeds will be used for marketing and promotion to acquire a new business.

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Investment Overview

Invested this round: $51,080

Deal Terms

Total Commitments ($USD)

Platform
SMBX
Start Date
08/23/2024
Close Date
09/19/2024
Min. Goal
$10,000
Max. Goal
$50,000
Min. Investment

$10

Security Type

Debt

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Interest Rate

11.25%

Term Length

3.0 years

Company & Team

Company

Year Founded
2018
Industry
Transportation, Automotive, Aviation, & Aerospace
Tech Sector
EnterpriseTech
Distribution Model
B2B/B2C
Margin
High
Capital Intensity
High
Location
Newark, Delaware
Business Type
Growth
Company Website
Visit Website

Team

Employees
1
Prior Founder Exits?
No
Founder Name
Aaron Swan
Title
CEO

Financials

as of Fiscal Year 2023
 Revenue -44.4% YoY
$5,000
 Monthly Burn
$1,146
 Runway
6 months

Summary Profit and Loss Statement

FY 2023 FY 2022

Revenue

$5,000

$8,991

COGS

$0

$786

Tax

$0

$0

 

 

Net Income

$-13,755

$-62,487

Summary Balance Sheet

FY 2023 FY 2022

Cash

$6,848

$16,288

Accounts Receivable

$0

$0

Total Assets

$19,516

$30,622

Short-Term Debt

$28,232

$3

Long-Term Debt

$122,055

$147,635

Total Liabilities

$150,287

$147,638

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
09/19/2024 SMBX - $51,080 Debt Funded RegCF
03/16/2021 SMBX - $84,870 Debt Funded RegCF
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Growth Charts

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

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24 HR Truck Services on SMBX 2024
Platform: SMBX
Security Type: Debt

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