Always right

Eric Tan opened his business, VA Wholesale Mortgage, a month before the COVID-19 pandemic sent the housing market into three years of unprecedented fluctuation.

During those three years, Tan has managed to not only survive but reach an average revenue growth rate of 2,230%, landing the firm at No. 252 on the 2023
Inc. 5000 list, Inc. Magazine’s annual ranking of the nation’s fastest-growing privately held companies by percentage revenue growth. VA Wholesale Mortgage is also the top-ranked Inc. 5000 company in Hampton Roads this year.

Tan, a Navy veteran, primarily focuses on providing home loans to other former and current military members, a business model that’s helped solidify the firm as one that prioritizes clients above profits.

“I think [Tan] made a decision that this business was going to be truly for the client and for our business partners,” says Daniel Solis, vice president of sales. “I think that’s why a lot of people partner with us and work with us.”

Along with building its revenue, VA Wholesale Mortgage has invested in veteran-focused advocacy. The company received the U.S. Department of Labor’s Medallion Award in 2022 for its commitment to hiring veterans, as well as an invite from Gov. Glenn Youngkin to the ceremonial signing of a state law providing property tax exemption for disabled veterans, which the firm supported.

Ranked second highest among the region’s Inc. 5000 companies is Melone Hatley, a Virginia Beach-based family law firm that placed No. 575. It now has offices in Fairfax and Loudoun counties, Richmond and Charlotte, North Carolina.

Managing Partner Rebecca Melone decided to strike out on her own after a string of stints at companies she felt either didn’t truly listen to clients’ needs or overworked its attorneys. “If I fail, I fail. I’m going to try my own thing and see how this plays out,” Melone says, recalling her mindset when she started her own practice.

About 10 years later, the attempt has played out well: Melone Hatley has experienced a 1,032% growth rate in revenue over the past three years. A key to that success has been creating the kind of firm Melone couldn’t find when she was job hunting: one that prioritizes clients’ needs and provides professional development for attorneys.

“I feel like I’m getting to create the job that I used to look for,” Melone says.

Also in Virginia Beach, Born Primitive co-owners Bear Handlon and Mallory Riley opened their clothing company in a garage in 2014, producing and selling a pair of shorts geared toward Olympic weightlifting. Now, Born Primitive, which is ranked No. 1,931 on this year’s Inc. 5000 list, is launching two sister brands — a line of clothing for military members and first responders, and a line of outdoor apparel. It’s also making its first foray into performance footwear. The company marked a three-year growth rate of 291%.

“I think it comes down to committing to making really quality products, combined with strong brand ethos,” says Handlon, the company’s CEO. “When you have both, you build a really loyal following of customers that keep coming back.”

For Handlon, who’s also a veteran, that means maintaining a loyal fan base by branding his company as “unapologetically patriotic,” while also supporting several veteran-focused charities.

Born Primitive, VA Wholesale Mortgage and Melone Hatley are all first-timers on the Inc. 5000 list, along with six other local companies from a range of industries, including construction, insurance and government services.

Real estate development, property management and construction firm The Breeden Co., a mainstay in Hampton Roads, has appeared on the list the past two years, moving up 240 spots to No. 2,631 for 2023.

Breeden President and CEO Tim Faulkner says much of the 62-year-old company’s 205% growth rate can be ascribed to expanding its third-party construction and property management divisions.

A great business plan, Faulkner emphasizes, is built on great employees.

Breeden board chairman, founder and owner Ramon W. Breeden Jr. “believed in the team and invested in it,” Faulkner says. “Assembling the right team is the key to success.” 

 See this year’s Inc. 5000 companies in Hampton Roads.