Amerisource Funding Receives Inner City 100 Award
Release date: May 7, 2004
Houston, TX – Amerisource Funding, a nationwide provider of working capital financing to small and mid-sized businesses, announced today that it was named by Inc magazine as one of the fastest-growing companies located in America’s inner cities. Amerisource was ranked 55 out of 100 companies listed nationally as America’s fastest growing urban businesses.
Founded in 1998 by the Initiative for a Competitive Inner City (ICIC) and Inc magazine, the ICIC-Inc Magazine Inner City 100 highlights the job creation and other economic benefits these businesses can bring to distressed urban areas.
Inner City 100 companies were selected from a pool of 7,000 companies nominated from 155 cities, compared with approximately 5,000 last year. The record number of nominations received this year was largely due to the Inner City 100 Nominating Partners such as U.S. Conference of Mayors, New America Alliance and National Association of Manufacturers. Criteria for the award include having at least 51 percent of operations located in economically distressed urban areas, having sales of at least $150,000 in 1998 and at least $1 million in 2002. Amerisource had revenues in excess of $115 million in fiscal year 2002 and revenue growth of 376 percent.
“Houston is simply a great place to do business” said Jason Floyd, Managing Director. “The economy is thriving, the labor pool is educated and hard-working, and the city is a cultural mecca. It’s a city to build a future on.”
Amerisource was recognized at the Inner City 100 Summit in Boston, MA on April 12-13. The summit is a celebration of urban entrepreneurship and business leadership. A complete list of the 2004 winners appears in the May issue of Inc magazine.
Jaylene Cyr (713) 863 8300 Ext. 239