Crestmark Bank, now in its 20th year, made Inc. magazine’s 2016 list of America’s Fastest Growing Private Companies in the U.S. For its third appearance on the annual list, Crestmark ranked 58th among the fastest-growing companies in Metro-Detroit, 107th in Michigan, 239th in the financial category, and 4,638th nationally.
Making the Inc. list is one of many measures of Crestmark’s success since its founding in 1996. Its entrepreneurial founders started with a business model offering innovative financing solutions to small- and medium-sized businesses that couldn’t get loans from traditional lenders. In addition, it became an expert in niche markets, including manufacturing, transportation, products that sell into the retail supply chain (apparel, furniture, and home goods), staffing, insurance, and energy, which contributed to its growth. Over the past three years, Crestmark increased its product offerings, clients served, and number of employees. Among the financial solutions added over the past three years are SBA 7(a) loans, equipment leasing and financing, and sale and leaseback transactions for the renewable energy industry.
“Crestmark is proud of its 20-year track record helping entrepreneurs and small and medium-sized businesses get the financing they need,” said Crestmark Chairman and CEO David Tull. “Making Inc.’s list of Fastest Growing Private U.S. Companies is recognition of the entire company’s hard work. Our focus is not primarily on growth, but instead to ensure we have a strong company that provides a profitable return to all of our shareholders.”
“Though Crestmark is now in its 20th year, it continues to be an entrepreneurial company helping other entrepreneurs be successful,” Tull added.
The Inc. 500/5000 is a list of the fastest-growing private companies in the nation. Started in 1982, this prestigious list of the nation’s most successful private companies has become the hallmark of entrepreneurial success.
The 2016 Inc. 5000 list measures revenue growth from 2012 to 2015. To qualify, companies must have been founded and generating revenue by March 31, 2012. They had to be U.S.-based, privately held, for profit, and independent — not subsidiaries or divisions of other companies — as of December 31, 2015. The minimum required revenue for 2012 is $100,000; the minimum for 2015 is $2 million.