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SBA Announces Billy and Brook Taylor of Pacifica are Oregon 2014 Small Business Persons of the Year
PORTLAND, Ore. – The Portland District Office is pleased to announce that Billy and Brook Taylor of Pacifica are the 2014 winner of the SBA Small Business Persons of the Year Award for Oregon.
“Billy and Brook Taylor started their business with just the two of them making candles in 1997,” said District Director Camron Doss. “Today, they have developed Pacifica into a thriving natural beauty product enterprise with 110 employees.”
Born with an entrepreneurial spirit, Billy got his start working for his grandparents on one of the first commercial marionberry farms in the world. Together, with Brook’s creative vision for products the duo borrowed a little money from family and started making candles. “Brook has always had an incredible ability to identify gaps in the market and a sense for what people want,” said Billy. Brook’s instincts paid off and Pacifica was an immediate hit. Within just a few years, the company was grossing nearly $5 million in sales.
Despite the recession, in 2008, Pacifica reached $12 million in sales. Through the launch of its fragrances as perfumes and other new product lines, the company had been consistently growing with 70% of their sales coming from the home fragrance category.
With a desire to reposition the brand after a stint with a new distribution channel, Billy and Brook found themselves searching for capital. Through an SBA Express Line of Credit, followed by an SBA CAPline and a 7(a) Loan, Billy and Brook were able to get the money they needed without compromising their ownership or vision.
Today, 80% of Pacifica’s revenue comes from beauty and perfume products. “We had a complete brand transformation, the working capital and the security provided by the SBA allowed that type of transition,” said Billy. The transformation has Pacifica on a growth path to more than double revenue over a five year span, ending in 2014.
Pacifica will be recognized with other state and territory winners at the National Small Business Week Ceremony in Washington D.C., May 15-16, 2014.
“National Small Business Week is a time to recognize the impact small business has on our country,” said Regional Administrator Calvin Goings. “It’s a chance to celebrate the dedicated, hard-working small business owners who are making a difference in their communities.”
The Portland District Office will celebrate all of Oregon’s Small Business Week Award winners on May 22 at the Portland Art Museum. Small Business awards to be presented include: Small Business Person of the Year, Small Business Exporter of the Year, Family-Owned Business of the Year, Young Entrepreneur of the Year, Community Impact Award, Rising Star Award, and Small Business Spirit Award.
The luncheon also recognizes the leading SBA Lenders and Small Business Champions who help Oregon and SW Washington’s businesses start, grow and succeed.
For more information or tickets, please visit, www.sbw2014.eventbrite.com.
Cosponsorship Authorization # 14-1086-94. SBA’s participation in this cosponsored activity is not an endorsement of the views, opinions, products or services of any cosponsor or other person or entity. All SBA programs and services are extended to the public on a nondiscriminatory basis. Reasonable arrangements for persons with disabilities will be made if requested at least two weeks in advance. Contact: Kellie Randall, 503-326-5200.