SOUTH HACKENSACK, N.J. — Independent ATM operator Money Marketing, Inc., an affiliate of the NexTran Group LLC, has been ranked 333rd on Inc. Magazine's 23rd annual listing of the 500 fastest-growing private companies in the country.
Money Marketing joins a list of companies that have thrived despite continued stagnation in the economy, said Tony Park, president of Money Marketing. He noted that while the United States lost 400,000 jobs in 2003, Money Marketing increased its workforce.
"The best thing you can say about this year's crop of Inc. 500 entrepreneurs is that they didn't buy into the hype," agreed Inc. editor-in-chief John Koten. "When people were practically giving away funding in the late 1990s," companies like Money Marketing "didn't overextend, and when everyone hit the panic button a few years later, they stayed calm and seized opportunity."
With approximately 75 percent of all new job creation in the U.S. coming from small businesses, the Inc. 500 is an indicator of the companies and industries that are driving the economy forward, according to the magazine
Like one-third of those on the Inc. 500 list, Money Marketing began with start-up capital of less than $20,000. "We bought our first ATM with a credit card," Park said.
At least one other independent ATM operator, Cardtronics, also appears on the list, ranked 297th. (See related story Cardtronics makes Inc. 500 list for 4th year in a row)
The Inc. 500 Special Issue is on newsstands through Dec. 21.
