Next Level Logistics
Trucking is one of the largest industries in the United States, with total revenues exceeding $791B. It remains an industry that offers livable wage jobs to many, but remains dominated by White-male-owned trucking companies. Next Level Logistics, which is both a Black-owned and woman-owned business, seeks to take advantage of the opportunity available to Black-owned trucking and transportation companies while bringing livable wage jobs to people of color and women.
Today, Next Level Logistics is an established small trucking business that provides general freight, refrigerated freight, dry bulk and liquid bulk transportation services throughout the U.S., ranging from light to heavy. Venn’s PRI will provide concessionary capital to help the company achieve its growth goals over the next three to five years including (1) increasing to 25 trucks in operation; (2) growing diversity within the ranks of truck drivers and owner-operators driving under its authority; and (3) assisting 5-10 individuals in transitioning out of prison and into truck driving each year.
Recipient Name: Next Level Logistics
Corporate Form: Minnesota Limited Liability Company
Entrepreneurs: Dezel Jones, Founder and COO, and Domonique Jones, CEO
Investment Sought: $100,000-$500,000
Amount Raised to Date: $231,750
Overview of Investment Terms:
8-Year Unsecured Loan
Accrues Simple Interest at 3% Annually
Payment Terms
Years 1-2: Interest-only payment due at the end of year 2
Year 3: Annual, interest-only payment plus 10% of principal invested
Years 4-5: Annual, interest-only payment plus 15% of principal invested
Years 6-8: Annual, interest-only payment plus 20% of principal invested