Shore to Shore Logistics | Application Preview
Shore to Shore Logistics is applying for government grants to address the challenges faced since June 2020, when the business became unoperational due to reduced shipping rates. The requested funds would primarily cover the rising costs of commercial insurance and support the purchase of a trailer that can be operated by a Non-CDL driver, thereby lowering labor expenses.
The business plan focuses on acquiring a trailer that does not require a CDL, which is seen as a crucial step in cutting costs. Additionally, the company intends to invest in another Hot Shot fleet (truck and trailer) to expand into areas with better-paying load opportunities.
Funding is essential for the business, as the owner has never sought assistance before and initially launched the venture with personal savings. The onset of COVID-19 necessitated taking out a business loan, but the ongoing struggles have nearly depleted those savings, making it vital to secure support to revive operations to pre-pandemic levels.
The competition primarily involves other transportation businesses operating various fleets. An influx of new competitors in 2020 led to decreased load payments, hurting owners who do not personally operate their vehicles. Consequently, profit margins have become exceedingly thin after accounting for overhead and labor costs.
The owner has taken proactive measures to improve profitability, including the decision to obtain a CDL to temporarily eliminate the need for a driver on payroll. While this is not a long-term solution, it demonstrates a commitment to sustainability and efficiency within the business. This funding could serve as a crucial lifeline to help Shore to Shore Logistics regain stability and profitability.
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General Information
Business Registration Number: 84-2675715
Location: Columbia, SC, United States
Length of Operation: 1
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
My company has not been operating since June, 2020 due to the cut in price paid to ship loads. The funds would be used to cover the increase in the cost of Commercial Insurance and to possibly purchase a trailer that a Non-CDL driver could operate. This would cut the cost in labor, as Non-CDL holders are only paid a fraction of the cost that CDL holders are paid.
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Business Plan
I plan to purchase a trailer that does not require a CDL to operate. This is the first step in cutting cost. I also intend to purchase another Hot Shot fleet (Truck & Trailer) to saturate more areas where better paying loads are available. I have never sought out assistance when it came to operating my business. I didn't begin this venture until I had what I felt was enough funding saved up to cover my startup expenses. I obtained my first business loan when COVID struck. Since, my business has still been struggling, almost depleting my savings. I need assistance with getting my company back up and running the way it was prior to the pandemic.
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Self Identified Competition
My competitors are anyone in the transportation business rather they operate tractors, dry-vans or hot shot fleets. With an increase in transportation businesses in early 2020, the heavy competition drove down the cost paid per load. This was beneficial for owner-operators, but not for owners who doesn't operate their own vehicle. After over head and labor is paid, the profit margin for the business is very low. I'm not seeking a handout. This is my first time ever applying for a grant. I have racked up a tremendous amount of personal debt trying to keep my business afloat because I am sure that things will turn around. To help mitigate cost, I have decided to get my CDL so that I wont't have a driver on the payroll. This is a temporary fix, as I do not plan to become a permanent driver. Going this route will help my business become a little more profitable.
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Contact Applicant
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