GreenSky Credit gives fast financing solutions specifically designed for homeowners looking to make capital improvements or major renovations to their homes. Mostly targeted for renovation contractors, these loans are also available for health care, retail and e-commerce businesses. GreenSky prides itself on its fast loan approval process, all of which can be done online or through a mobile app. In fact, contractors can take homeowners through the process themselves. All that is needed is a mobile app as well as a bit of key information, such as a social security number and driver’s license number. Around 95 percent of applicants receive an answer within five minutes. This allows them to move forward quickly.
The CEO of GreenSky Credit is David Zalik, the company founder back in 2006. This 44-year-old mastermind of loans has had both downfalls as well as major growth over his life. Instead of going to high school, at the age of 13, he opted to go to Auburn University. He had already passed the ACT and felt bored by his upcoming high school classes. Instead of finishing college, he again chose to opt out but this time started his first business. He had already had success in college in learning how to provide individuals with a necessary product while making profits.
However, a couple of his first business ideas went bust. Not to be deterred, Zalik started GreenSky Credit in 2006. By marketing his idea to a new business group that had previously been unreached, he quickly discovered great success. Suddenly, home renovation contractors could have a quality loan that did not require a great deal of paperwork or time to present to clients.
David Zalik continues to capitalize on this idea, outsourcing his loans to large banking institutions, such as Fifth Third. This frees his company up to work with the customers and to collect the loan money without having to be the one to process and maintain the loans fully. GreenSky Credit is poised to continue growing and is currently the third largest fintech company.