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The Multiple Benefits Of GreenSky Credit’s App

The Multiple Benefits Of GreenSky Credit’s App published on

I teach a business class and am always harping on the fact that future entrepreneurs need to focus less on the money and more on enrichment. You bring so much more to the economy when you focus on how to make people’s lives better with your products. And there’s no better an example than David Zalik’s GreenSky Credit. I recently found a rundown of his company in Forbes magazine.

GreenSky Credit’s App

It all starts on the phone. GreenSky Credit brings value to the customer through convenience. Their app allows homeowners to secure home improvement loans in just minutes, and filling out the application is very simple. The app allows you to take a picture of your drivers license which fills out most of the application for you. And you receive a decision about your home improvement loan in just minutes.

A Beneficial Cycle

Homeowners are happy with GreenSky Credit’s service because they are able to work towards the home of their dreams while keeping a little bit of cash in their pockets. This extra cash allows the homeowner to make further improvements in order to expedite the entire home-improvement process, but the benefits don’t stop there.

Contractors salivate for the work provided by the app. The convenience of the app allows more homeowners to secure loans which provide more work for contractors. Contractors are then the salesman. They are the ones pushing homeowners to use the app in order to secure work quickly.



Banks also benefit from this cycle. GreenSky Credit secures loans through brick-and-mortar banks who are happy to assume all the risks. They trust David Zalik’s company because the financial tech app only approves those with incredible credit scores.

Profiting Without Owning Anything

Everybody is happy in this beneficial cycle all while GreenSky Credit receives profits from both ends. Contractors cut a check to the financial tech company for the work while banks share a percentage of their spreadsheets at the end of the year in exchange for the loans. Meanwhile, the financial tech company owns only the transaction without assuming any risks.