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Loan Success Story -CRU Trucking

Community Investment Corporation (CIC) is a financial empowerment nonprofit. We give the members of our community who are shut out of and left behind in our economy access to the knowledge and financing they need to pursue new opportunities. By creating more equitable access to financial resources, we create a more just society. CIC unlocks the door to prosperity for all members of our community to meaningfully participate in our powerful but imperfect capitalist economic system and reclaim the American Dream. At CIC, WE KNOW YOUR WORTH. The system may not recognize your value, but we do.

CRU Highline Trucking - An Alternative Loan Success Story!

Ever since Charles (Chuck) Ugalde was a kid he dreamed of owning his own business. Born on a military base in Germany, he grew up in Sierra Vista, and spent time as a young adult in Hawaii and Chicago before settling back in his childhood hometown of Sierra Vista in 1996. He always remembers having an entrepreneurial spirit. Chuck had in-laws who had worked in the trucking industry, and he knew how to drive a semi, so with his childhood dreams in mind, he researched the possibility and profitability of starting his own long haul trucking business and began the journey in early 2020. 

Chuck was first introduced to CIC in the Startup phase of his business journey, but was turned down for a loan because he was yet to have any experience in the industry. That didn’t stop Chuck. He was committed to his vision, used personal debt to purchase his first truck, built a successful business model and returned to CIC.  Chuck’s dream and drive were clear to the CIC loan team continued to follow Chuck as he turned his dreams into reality. 

The Power of Capital to Double Revenues

Chuck stayed connected to  CIC because he valued CIC’s belief in his vision and appreciated the optimistic support and shared business knowledge. In his first meetings with CIC he struggled with some of the in-depth business terms and requirements. He also admits that starting a business is a rollercoaster ride. Getting established was scary, he used personal credit to get established and it took awhile to make a profit. But just six months after his initial attempt to secure a loan with CIC he had listened and learned, better understood his business and secured a loan with CIC to purchase his second vehicle, a used Kenworth truck, and to refinance two trailers that were at a much higher interest rate and in his personal name.  Not only did this loan allow Chuck to double his revenues and hire a local veteran as his new driver, but it allowed him to start separating his business from his personal debt.    

CRU Highline Trucking LLC

“You run into people willing to help you along the way. CIC it has been fantastic, working with you guys. I recommend that when people have that itch to start something, to move forward.
Even though CIC turned me down initially for the first truck/trailer purchase, they were positive, helpful, and guided me so I could qualify six months later with proven financial history. You were such a blessing." - Chuck Ugalde, Owner

About CRU Highline Trucking LLC:

CRU Highline Trucking is a long haul trucking company based in Sierra Vista hauling general freight, produce and frozen foods all over the country. What makes CRU Highline Trucking different from other trucking companies is its driver-oriented focus. Chuck is committed to building the company around them, taking extra good care of them and making CRU Highline Trucking a great place to work. 

The word has caught on, people are asking Chuck about job openings all the time, now that his reputation is well-known. CIC wishes Chuck and the entire team at CRU Highline Trucking the absolute best on the road ahead and can’t wait to see where they will go. 

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