Portfolio Recovery Associates (PRA) Inc., a Norfolk, Va.-based debt buyer, announced that it recently was honored with the Inside Business Roaring 20 Award for business excellence and community involvement.

The Roaring 20 Award recognizes the fastest-growing companies in Hampton Roads, Virginia that make significant contributions to the local economy. The selection of winners is based on reviews by a panel from award co-sponsor Cherry, Bekaert & Holland, a certified public accounting and consulting firm, who assessed financial statements - as well as data on employment, community giving, economic development and capital expenditures.

PRA was selected based upon its revenue and percentage rate of growth over the company’s three most recent fiscal years. Other factors contributing to the company’s selection included its ability to overcome challenges and future outlook of long-term sustainability.

Kevin Stevenson, chief financial and administrative officer for the publicly-owned company, accepted the award during a ceremony in Virginia Beach, Va. on Nov. 4.

“Our ultimate goal is to run a successful business that contributes to the communities we serve,” said Steve D. Fredrickson, president, chief executive officer, and chairman of PRA. “We’re very honored to receive this top award and most proud of the fact that we’re able to balance the bottom line with our commitment to corporate responsibility.”

In business since 1996, PRA has earned many awards for its approach to sustainable business growth, community involvement and philanthropic giving. Forbes recently recognized PRA as one of America’s 100 Best Small Companies. The company is also consistently recognized on the “hot growth” rankings lists of other premier financial publications.

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