From an early age, it was obvious that David Zalik was going to be a successful entrepreneur. The current CEO and founder of GreenSky Credit bypassed high school and went straight to college at age 14. Zalik launched his first business while studying at Auburn University in Alabama. MicroTech Information Systems built up a following through its unique business model of putting together computers and selling them to college students, eventually expanding its reach to corporations. Zalik ultimately sold this company and moved to Atlanta to launch two more successful business operations. Currently, Zalik is running his fourth venture by leading the way with GreenSky Credit.
As a financial technology business, GreenSky Credit provides consumer loans to customers looking to finance home improvement projects. Although the company is still privately-held, GreenSky Credit has allegedly filed for an IPO. Zalik recognizes that a public offering of his company would buck the trend of other startup tech companies remaining private in an effort to avoid the pressure of investors and concentrate on growing their business.
Unlike many financial ventures that position themselves as a valid alternative to traditional banks, GreenSky Credit has worked to partner with the big banking industry with the goal of streamlining the loan process for consumers. According to Zalik, his company partners with over 17,000 retailers to provide customers with a variety of financing options on home improvement loans up to $65,000. By transferring the great majority of risk to the banks, GreenSky guards itself against consumer loan default.
GreenSky Credit prides itself on harnessing the power of mobile technology to provide an optimum customer experience. By simply scanning an applicant’s driver’s license, the technology simplifies the process for customers looking for instant approval. The unique partnership forged between GreenSky and its partner banks have helped the company to sustain a profit over the last five years, with projections to almost double profits in 2018.