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February 7, 2025, 5:19 am UTC

Portwood Parts 85-3119755 | Government Grant Application

Portwood Parts | Application Preview

  • General Information

    Business Registration Number: 85-3119755

    Location: Portland, OR, United States

    Length of Operation: 1-5

    Number of Employees: 1-10 Employees

    Annual Gross Income: $500k to $1M

    Annual Gross Expense: $500k to $1M

    Open to Loans: NO

  • Funding Usage

    To cover cost of employee salaries. I have applied for and requested multiple lines of credit and the interest rates are ridiculous/unattainable.

  • Business Plan

    The company sales and revenue need two additional employees. I would like to hire a regional sales associate to help sustain and grow the company’s customer base in the coastal communities. I currently generate approx $150,000 in gross revenue from that region, but can only visit it once a month due to business load in the Portland and Salem metro areas. I also plan to hire a warehouse associate to help fulfill orders. This will provide me more opportunity to develop sales contacts and grow revenue. One thing that’s unique about Portwood is that our components help sustain repairs to heavy equipment for parts that are very challenging to find, enabling farmers, boat repair facilities, fishing boats, and truckers to repair and operate their equipment without having to purchase brand new. Many of our customers who operate their own small businesses can’t access the repair parts they need due their company size and minimum purchase requirements. Portwood provides an avenue for these companies to access much needed and hard to find components. I scour the US and globe for components making them accessible to other small businesses. Many of these companies are too small to afford to hire their own ‘purchaser’ like larger corporations do, they rely on Portwood to source products and function as their purchaser researcher and wholesaler. I currently have two employees and I want to sustain them and add the two positions referenced above. However, my liquid capital needs to go to wholesale acquisition of parts - I’ve operated without a line of credit for over two years, this has made growth slow and challenging.

  • Self Identified Competition

    Centarr (based in Seattle, primarily targets marine industry) Electrical Depot (e-commerce site, source of last resort for heavy equipment industry) Collaboration with multiple customers to curate lists of product needs - Portwood collate’s their collective needs and provides a path to wholesale pricing they can’t access alone. Portwood also specializes in hard to find and no longer produced electrical components allowing companies to extend the useful lifecycle of their heavy equipment.

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