GreenSky credit is a unique enterprise, and that’s due in large part to founder and CEO David Zalik. Many entrepreneurs are called brilliant, but Zalik actually is. For example, he skipped high school to go directly to Auburn University at age 14. Once he was there, it wasn’t long before he dropped out to focus on the business he’d founded. David Zalik was still just a teen.
Zalik sold that company before long and founded two more. By 22, he was a millionaire. Today, he’s the CEO of his fourth business, GreenSky credit. GreenSky is revolutionary in that it matches a customer and lender at the point of sale. This helps business owners overcome obstacles when it comes to closing. GreenSky is not like a credit card you apply for at a retail store. With this service, people can get approved for loans of well over $10,000.
The applications for GreenSky are numerous. Valued at over $3 billion, it’s one of the biggest financial technology companies in the world right now. GreenSky is particularly important for contractors who want to sell homeowners on renovations or additions. Rather than waiting to hear about credit approval, these small businesspeople can now finalize deals on the spot.
In GreenSky Credit, Zalik has built a very profitable business. The company collects origination fees, but doesn’t actually lend money. GreenSky also tends to deal with borrowers who have better-than-average credit scores. Generally, their borrowers want to borrow money, but don’t really need to. They tend to qualify for favorable low interest rates and have positive experiences with the company. This leads to great word-of-mouth.
The most surprising thing about GreenSky Credit and Zalik is how they seemed to emerge out of nowhere. Zalik is a very private individual, and never even gave an interview until he was over 40. He much prefers to avoid the limelight and simply do the work that needs to be done. When he was young, Zalik learned how important it was to find his passion. Today, he’s done just that.