Inc. magazine recognizes entrepreneurial achievement by publishing an annual list featuring the most outstanding private companies in the United States. The practice began in 1982 with publication of the Inc. 500 list. The annual list expanded in 2007 with publication of the Inc. 5000. Each company chosen for inclusion has distinguished itself as being among the fastest-growing privately held business enterprises in the nation.
MortgageDepot, which posted an incredible growth rate of 112.02%, gained national attention by inclusion on the Inc. 5000 list for 2020. The New York-based mortgage broker specializes in providing residential and commercial mortgage products to customers in New York and other states. Previous honorees have included Under Armour and Microsoft.
Making the grade
The editors at Inc. magazine review applications submitted by companies throughout the U.S. seeking inclusion on the annual list. Companies chosen for the 2020 list had to meet the following criteria:
- For-profit business
- Founded and earning revenue no later than March 31, 2016
- Based in the U.S.
- Privately owned
- $100,000 minimum revenue in 2016 and $2 million in 2019
Honorees must be independent companies and not a subdivision or subsidiary of another enterprise.
Determining the rankings
Acceptance for inclusion on the list is only one part of the process. The companies chosen must be ranked according to their percentage of growth over a three-year period. For 2020 honorees, the magazine used 2016 as a company’s base year revenue and its 2019 revenue as part of a formula to determine its growth rate represented as a percentage. MortgageDepot, for example, had an impressive 112.02% growth rate that ranked number 3371 on the Inc. 5000.
MortgageDepot recognized for its work with borrowers
Its outstanding growth rate was not the only thing that impressed the editors of Inc. magazine about MortgageDepot. The magazine includes a profile for each of the Inc. 5000 companies. Its profile for the independent mortgage broker led by its chief executive officer, Steve Kaziyev, highlighted that this recognition is a testament to MortgageDepot’s growth, dynamic culture, and standard of excellence.
The mortgage professionals at MortgageDepot work hard to provide borrowers with access to lenders offering a broad spectrum of financing options, including conventional and government-backed mortgages, as well as specialty mortgage products designed for self-employed borrowers.
Visit MortgageDepot.com for more information.
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