Inc. Magazine Reveals Annual List of America’s Fastest-Growing Private Companies—the Inc. 5000
NEW YORK, Aug. 17, 2021 (GLOBE NEWSWIRE) -- Inc. magazine today revealed that Fountainhead is No. 1221 on its annual Inc. 5000 list, the most prestigious ranking of the nation’s fastest-growing private companies. The list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.
“It’s an honor to be amongst some of the fastest growing companies in the country for the third straight year,” said CEO and Founder of Fountainhead, Chris Hurn. “In addition to continued excellence, our team is tirelessly working to provide the resources, like Paycheck Protection Program (PPP) loans, to businesses who needed financial assistance during the toughest of times.”
Not only have the companies on the 2021 Inc. 5000 been very competitive within their markets, but this year’s list also proved especially resilient and flexible given 2020’s unprecedented challenges. Among the 5,000, the average median three-year growth rate soared to 543 percent, and median revenue reached $11.1 million. Together, those companies added more than 610,000 jobs over the past three years.
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. The top 500 companies are featured in the September issue of Inc., which will be available on newsstands on August 20.
“The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled,” says Scott Omelianuk, editor-in-chief of Inc. “Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we’ve lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people.”
Founded in February 2015 and based in Orlando, Florida, Fountainhead is one of only 14 SBA-approved nationwide, nonbank, direct commercial lending firms specializing in funding commercial real estate projects and providing growth financing for small-to-midsize businesses utilizing SBA 7(a), SBA 504, low LTV conventional loans – and most recently PPP loans. Fountainhead made the top 100 list for most active SBA lenders in the nation in its first full year of operations and earned SBA’s coveted “Preferred Lending Partner” designation in 2019. At the onset of the COVID-19 pandemic in 2020, Fountainhead’s executive team leveraged its expertise in SBA lending to come to the aid of the struggling small business community and pivoted its business model overnight to begin processing PPP applications for the SBA. Hurn and his team of 35 employees funded 8,237 loans in 2020 and 279,473 loans in 2021, totaling more than $4.72 billion in relief funds and earning the distinction of being the nation’s sixth-most-active PPP lender in 2021. In fact, of all PPP loans made in their home state in 2021, Fountainhead made 6.67% of them, 40,093 for $487.61 million, plus another 347 for $44.82 million in 2020, likely more than any other lender in the state. In addition, Fountainhead’s funding saved an estimated 430,000 American jobs nationwide in 2021 alone.
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More about Inc. and the Inc. 5000
Companies on the 2021 Inc. 5000 are ranked according to percentage revenue growth from 2017 to 2020. To qualify, companies must have been founded and generating revenue by March 31, 2017. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2020. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2017 is $100,000; the minimum for 2020 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to three decimal places. There was one tie on this year’s Inc. 5000. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.
About Inc. Media
The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including web sites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Vision Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.
For more information on the Inc. 5000 Vision Conference, visit http://conference.inc.com/.