This self-made mogul was stripped of his money, contacts and home and given 90 days to build a million-dollar business from $100.
Glenn Stearns is convinced that his struggle and adversity were great teachers. Born to alcoholic parents and diagnosed with dyslexia, he failed the forth grade. By the 8th grade he had fathered a child. He graduated at the bottom 10% of his class. “There were things that would either break or make me stronger,” said Stearns who proudly pushed himself to get through Towson University.After graduating he headed to California. He remembers sitting on a bench overlooking the Pacific Ocean.
By 2010, Stearns Lending reached nearly $1 billion a month in funding and experienced record growth. The company not only survived the mortgage-lending crisis but also became one of the nation’s top lenders. Since 2010, the company has funded over $150 billion in loans and maintains its mantra of placing “people before profit.”
Using his resourcefulness, pluck and street smarts he has 90 days to create a business from scratch. At the end of the 90 days, the business will be independently evaluated. “If it's a penny short of a million, I'll put $1 million into it,” says Stearns who along the way developed some life changing connections with some extraordinary people. “Win or lose the people who help me get there will be rewarded, but they don't know it.
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