GreenSky Credit’s Source of Financing
Background of GreenSky
2006 was the year when a financial technology firm known as GreenSky LLC was founded and its location being Atlanta Georgia. Its main objectives were to offer technology to banks and businesses for them to make a loan to their clients for healthcare, solar, and improvement. GreenSky credit programs have their primary source of financing from federal-insured, state-charted and federal financial institutions. Also, it is approximated that around $5 billion had been borrowed via GreenSky credit programs from 2012 until 2016.
Businesses Involved in GreenSky
In the fintech market, GreenSky is not that well known compared to the other companies, and the reason behind this is that it does not use its capital to make loans. In 2016, it had already partnered with fourteen banks including Sun Trust Banks as well as Regions Financial Corp. They made investments via GreenSky credit mobile app and online to 12, 000 merchants’ customer that varied from retailer to their contractors. It also accepts merchants who sell furniture and any home improvement commodity that is roofing, window replacement, and aluminum siding. To deal with electoral medical process, they had to expand. Also, in expounding more about its business, CEO David Zalik reveals that they are in no competition with any bank or trying to be lenders because they stand to be a technology company.
2015 was the year when it considered expanding its business presence regarding the call center which was supposed to be located in Kentucky. In the same year, they publicized a multimillion-dollar project that would result to more than 350 jobs. In 2016, Its CEO perspective was that the company was making a profit and also in the same period, CEO David Zalik received an award of National EY Entrepreneur of the year in the Financial Services.
Employment and Management Structure
GreenSky has accommodated a capacity of employees who exceed 1000 with David Zalik serves as the GreenSky credit Company Chief Executive Officer, a post he has served since 2006 and also he is its co-founder. Gerry Benjamin serves as the company’s Vice Chairman while Tim Kaliban was its President and Chief Risk Officer.