How Entrepreneur David Zalik Came Up With An Innovative Way To Offer Consumers Loans

GreenSky, LLC., is the brainchild of entrepreneur David Zalik. He founded this firm in 2006 and is the chief executive officer. When he was just 12 years old he dropped out of high school and started attending Auburn University. Two years later he established his first business, MicroTech Information System. Since that time he has founded other companies in the tech industry as well as a company that invested in real estate. He has won a number of awards over the course of his professional career, such as being named Entrepreneur of the Year in 2016 by the EY National Financial Services organization.

His company offers consumers a way to get loans very quickly, often in just 40 seconds. GreenSky is privately owned and David Zalik still owns more than half of this company which is valued at $3.6 billion. He says that his company matches consumers and lenders together. Contractors sign up to work with Greensky and through David Zalik’s firm they can offer their customers a way to get inexpensive financing, usually for home improvements. His company makes money from both the contractors, who pay Greensky 6% of the loan amount, and they earn around 1% from the lenders they work with.

David Zalik was born in Israel. His family moved to the United States when he was four years old, settling in the state of Georgia. His father got hired as a math professor at Auburn University. He says his first company involved putting together $2000 pcs on which he earned $900. When he started it took him 10 hours to put a pc together but before long he got the process mastered and it would take him just a half hour.

By concentrating on consumers with good credit David Zalik says that his company offers a great service to consumers, contractors, and lenders. The people that get financing through GreenSky have good credit and want a loan in order to complete something they want to have done for them, not something they need to have done. His company often does promotional financing, such as 12 months with no interest.

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