GreenSky Credit – Fintech Industry’s Got a New Unicorn in Town

Founded in 2006, GreenSky Credit is an Atlanta-based Financial Technology firm that provides credit programs as well as technology to banks and merchants that provides loans to their consumers. Bloomberg reports that services include: same day funding for submitted invoices, account management, collections management, invoice verification, credit services, and online transaction management.

Forbes met with GreenSky’s CEO, David Zalik, to learn first-hand of Zalik’s background and path to success. Forbes reports that GreenSky is ranked third in value as a fintech company, with the CEO landing at billionaire status. Zalik shares the success behind his unique business model in which home remodel contractors are the consumers reached through the company’s sales team pitching their user-friendly mobile device apps. Zalik found an opportunity in this market where GreenSky provides easily accessible and quickly-delivered loans for average scoring FICO consumers.

Between the banks and contractor deals, GreenSky Credit’s model allows the company to profit on both sides of the deal. GreenSky Credit serves as a modern-day middleman and is not constrained by defaults.

Forbes continues to share the story of the businessman who built the company. Zalik’s family moved from Israel to Alabama when he was just 4 years old. He scored exceptionally high on the SATs and enrolled in college classes at age 16. During his college education, Zalik established his first company called Microtech, where he had dropped out of college to focus on his company before selling the 20-person company for a few million dollars at age 22.

After being involved in starting two other companies that ultimately failed, Zalik continued on the challenging path to success even after establishing GreenSky Credit. He was determined through his efforts of begging contractors to a $200 Million deal falling apart, but success was found after many would have given up. With Nigel Morris’ partnership and investment in the company, GreenSky surged to unicorn status.

Equities First Is Available To Help Non-Profit Dreamers

In reality, all people will be able to benefit from Equities First. However, people dreaming of starting their own non-profit organization in South Africa will more than benefit from this company.Equities First is a leading lending company that began over a dozen years ago. This company began with one person’s dream. That dream was to help people get funding when all other financial institutions turned them down. Though this dream came to pass, Equities First is so much more than just a lending company.

Operating all over the world, Equities First has a special branch in South Africa. Though this branch is a traditional lender, it also operates to help people with dreams of starting a non-profit organization. After getting so many calls from people in South Africa asking for help with starting a non-profit organization, Equities First had to step-in.This program works in a few different ways. The main way it works is that an individual or group of individuals apply for funds to starts a not for profit organization. Professionals from Equities First will then seek out all the government grants and other special monies available for people wanting to start this kind of organization. The professionals from Equities know how to locate government funds better than any other organization in the world. Most of the time these government funds pay for the entire loan.

The next way this program works is by the not for profit organization receiving donations to pay back the loan. The good thing about this is that Equities First does not tell the non-profit organization owners to go out and raise the money. Equities First creates fundraising opportunities and other opportunities to give people in the community and surrounding communities a chance to donate to the non-profit organization in question. Equities is known for helping more than 50 not for profit organizations start in South Africa. That number is expected to rise in the next several months.