TruckTech Parts & Service provides mechanics, fleets, and truckers with quality new and used heavy-duty truck parts. The company also does high quality maintenance services for trucks and heavy equipment. Mr. Vieira is the president of TruckTech, a $2.5 million dollar company that opened for business in 2008 with an initial investment of personal funds. He is a hands-on manager fully involved in many of the day-to-day business operations. The company employs 13 full-time and 3 part-time employees whose main products and services are: truck repairs, engine repair and replacement, brakes, hydraulic products sales repair and maintenance, transmissions repairs, welding, emergency and roadside service.
After renting for three years, Mr. Vieira purchased the 50,000 square foot facility in Newark, NJ. Two years later, he purchased a 17,000 square foot building across the street, expanding his capacity to work with hydraulic cylinders and other equipment. Even though TruckTech has experienced consistent growth of five to ten percent annually, the company has faced cash flow challenges, limited inventory, and supply issues. That’s what brought Mr. Vieira to the NJSBDC at Rutgers-Newark. He was seeking a bank loan to refinance his mortgages as well as a line of credit. He also needed assistance updating his business plan and sought information to target opportunities for doing business with local, state, and federal governments.
On March 23rd, Newark Center Regional Director Dr. Tendai Ndoro, and Lead Consultant Carmen Morris, performed an onsite visit to discuss the needs assessment recommendations with Mr. Vieira. The Center assisted him with marketing by getting clients to participate in the SBDC/Rutgers Business School Experiential Learning Program during the fall 2016 semester. The Center also advised Mr. Vieira on how to implement Google AdWords to reach his expanding market base. In addition, Mr. Vieira was referred to SBDC Public/Private Sector Certification Consultant Jinni Rock-Bailey for assistance with MBE (Minority Business Enterprise) Certification after the lead consultant assisted him with obtaining his SBE (Small Business Enterprise) Certification. Additionally, Mr. Vieira was referred to SBDC Financial Management Consultant, Andrew Frazier, for assistance with updating his business plan, preparing loan packaging information, and developing a comprehensive financial strategic plan.
As a result of SBDC intervention, TruckTech received multi-million dollar loans to support cash flow challenges, mortgage refinancing, and inventory needs. Also, Mr. Vieira was selected to participate in the Goldman Sachs 10,000 Small Businesses Program.