How did David Zalik’s Greensky Credit come to be known as the ‘handyman’s helper’ and what can this company do for you?
If you’ve ever gone to apply for a loan for a big-ticket purchase like a home renovation or elective surgery, you know that the process is long and drawn-out. In the end, you may not even end up qualifying for the loan even if you have good credit. This process can be frustrating for borrowers and lenders alike.
But Greensky Credit is here to change the game completely.
David Zalik is the genius behind this business. Immigrating to the United States with his family at the age of 4, no one knew that one day David would grow up to become the founder of a $3.6 billion company. Especially since he skipped high school and dropped out of college. Despite his success, Zalik remains a quiet man who is often times described as hard to reach. He tends to stay out of the spotlight. But Greensky has been making headlines lately.
Unlike the banks, Greensky doesn’t create loans itself.
Instead, Greensky Credit relies on matching up qualifying merchants with banks who are willing to work with them to extend loans to their customers who have good credit scores. In return, Greensky gets a percentage of the loan amount from the merchants. This becomes a win-win for everybody and reduces the risk for the Greensky company itself because the company won’t be hit hard if someone defaults on their loans.
In fact, Zalik hopes that in the future, Greensky Credit will be able to fully replace the idea of credit card financing. While that may sound like a lofty goal, David Zalik has shown his proven track record of success and that he won’t be slowing down any time soon.