GreenSky Credit Looks To Disrupt Financing

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GreenSky Credit is a financial technology startup that is disrupting the traditional way that home improvements are financed. The chief executive officer at GreenSky Credit is a man by the name of David Zadik. His background is fascinating. One can say that David Zadik is a genius.

The CEO of GreenSky Credit had already aced SAT exams while he was in middle school. The founder of GreenSky also enrolled at Auburn College while a high school student. There is no doubt that there is great ingenuity found in David Zadik. He also founded a computer assembly company called Microtech early on. This was sold for a few million dollars.

David Zadik had also tried his hand in real estate, but that did not turn out so well. He tried to enter the field of finance, but that went bust as well. It seemed that Mr. Zadik had terrible luck says his wife. He had unwittingly entered fields right before they suffered crashes.

GreenSky Credit is David Zadik’s lucky breakthrough. The young businessman is now considered to be a billionaire thanks to the recent valuation of his company. It has gotten investments from big-name banks such as Fifth Third Bank recently. People now take his financing technology company seriously. On the other hand, the name GreenSky is still not as recognizable as Zadik would like it to be.

GreenSky Credit works with contractors to offer homeowners and property owners financing options for renovation projects. The main appeal of GreenSky is that the contractor offers the financing straight to the homeowner. Approvals or rejections are almost instantaneous. A person can easily find out if he qualifies for a loan right on the spot.

Promotional offers further sweeten the deal. Most people qualify for interest-free financing for periods between six to twenty-four months. Alternatively, people can opt-in for low fixed interest rates on home improvement loans. GreenSky Credit does not have an active team of salesmen trying to get homeowners to use their service. Instead, it relies on contractors to pitch its financing platform directly to homeowners. The contractors are trained to use the financing platform directly by Greensky.

https://www.bloomberg.com/news/articles/2016-09-26/instant-lending-made-this-college-dropout-a-billionaire