You want to get a home improvement loan for your kitchen. However, you are worried about the time it will take to go through the application process. You talk to the contractor who tells you that he can get you a loan decision in minutes. All he needs is your driver’s license. A minute or so later, wham! You are approved for a $15,000 loan and your new kitchen is on its way. What kind of wizardry is this?! Simple, this loan was facilitated by an innovative lending company called GreenSky . And the company has loaned billions of dollars in the last decade.
In a Wikipedia search, you can discover that GreenSky was founded in 2006 as a breakthrough Fintech company that allows expedited loan decisions for home improvement, healthcare expenses, solar projects and other purpose. The company was co-ounded by David Zalik who serves as the current CEO. Mr. Zalik is known as an innovative entrepreneur who was recently awarded the National EY Entrepreneur of the Year Award in Financial Services.
What makes GreenSky so different? The company is essentially supplanting credit cards as a way to fund large projects for individuals. With a streamlined approval process, people no longer have to wait days or weeks for a loan decision. And the entire process is executed on GreenSky ‘s online platform that allows both the merchant and the individual to easily manage the loan.
According to a recent Forbes article over 17,000 contractors use the lending platform to help their future customers secure loans for their home improvement project. And GreenSky helps secures these loans through 14 partners that include major banks like SunTrust, FifthThird and Regions. GreenSky acts as a middleman that connects the merchant, the borrower and the bank.
For over a decade, GreenSky has innovated the way merchants secure big ticket sales by offering a fast lending solutions to their potential customers. As the company continues to loan out billions of dollars per year, GreekSky Credit will continue to innovate the way loans are created and processed in the everyday world.