First American Capital Corporation

Oweesta Success Story

Resilience and entrepreneurial spirit are alive within Luchador Trucking. Luchador Trucking started in 2015 with a dump truck and a goal to create a business that would support the owner and his family.There was a learning curve period where Luchador was building knowledge and understanding of the market, attempting to find long-term contracts that would guarantee regular income. Luchador Trucking was able to find such a contract in 2019.

The first major setback came in 2021, when Luchador was involved in an accident that left both himself and his vehicle unable to operate for a brief period. With the payout from insurance, Luchador was not able to purchase a vehicle the same caliber as his previous vehicle purchased pre-pandemic, largely due to the availability of newer trucks on the market and was forced to substantially downgrade his equipment.

The second hurdle came in July 2022, when the engine on Luchador’s dump truck developed issues to a point that he was unable to continue effectively running his regular route. He was sure that an insurance option for repairs would not allow him to purchase another vehicle with the further inflated market.

Luchador was not able to receive traditional bank financing to repair his truck, but with the help of FACC and the SBA Community Navigator program, FACC was able to work with Luchador Trucking to develop a new business framework including accounting processes that would help FACC assess the health of the company. It was quickly apparent that his business model was working, with the TA available through FACC, Luchador was able to generate cashflow statements, financials, and projections to graduate them out of the SBACommunity Navigator program, and into the SBA Microloan program where he received funding for working capital and the repairs for his truck. Currently he is back on the road hauling for an area prime contractor and generating business revenue for a successful 2022.

Luchador Trucking has an active TA workplan with FACC and is looking at upgrading his vehicle in the next year.