GreenskyCredit is a thriving financial technology company that is revolutionizing the way people obtain loans for a variety of purposes. According to Wikipedia, the company was co-founded in 2006 by David Zalik in Atlanta, GA.
A New Way to Obtain Funding
Unlike other companies that provide financing for their customers, GreenskyCredit actually doesn’t loan the money. Instead, they partner with federally insured creditors who have a reputation for excellence. Greensky Credit works as the middleman by obtaining the capital and brokering the deal between the financial institution and the customer. For example, a contractor will negotiate with a Greensky Credit representative to help the homeowner get ideal terms on financing for a remodeling project or a new build.
Greensky Credit has enjoyed an incredible amount of success since its humble beginnings. It was piloted by David Zalik himself, from his basement for years. Once the company began to gain traction, it achieved unheard of success to the tune of 3.6 billion in total revenue to date as quoted in a recent article posted to Bloomberg Businessweek. That figure is steadily climbing and projected to continue over the next several years.
One of the key factors of the companies continued success is its commitment to providing funding to lenders with favorable credit scores and history. This ensures that the loans are paid and the company is able to collect their share of the returns they are given for bringing the customer to the bank that is lending the money. The company also has employees who reach out to the customer and contractors to present an opportunity for a loan rather than waiting for the customer to come to the lender.
It stands to reason that Greensky Credit will continue to be one of the top financial technology companies in the market. Its revolutionary concept has brought a new dimension to standard practices and paves the way for other companies to follow its lead.