Over the past decade, the overall consumer market for personal loan has changed a lot. While it used to be possible for people to get access to personal loans, the credit crunch during the prior recession has made it much harder to do so. Those that are looking to take out a loan to make an improvement to their home now have to look to other options. One great option for those that are looking for loans is to take one out from GreenSky Credit, which is a consumer finance company that has continued to change the industry over the past few years.
Today, GreenSky Credit is one of the leading providers of online consumer loans. The company has developed as a firm that specializes in providing loans to people that would like to either complete a major remodel of their home or complete big repairs. The company offers a very convenient way of getting a loan, which includes an online application and approval process. Normally, this moves much faster than a loan would for a traditional bank.
While GreenSky Credit has continued to be a very popular option for those that are looking for loans, it is also a good option for those that are looking to invest. Under the guidance of CEO David Zalik, the company has continued to raise capital that it needs to turn into the premier option for both consumer and business loans. Over the past few years, GreenSky Credit has received valuation estimates in excess of $1 billion by private equity and venture capital investors. These investors are very attracted to the significant value improvement potential that the company provides.
In the coming years, there is a chance that David Zalik will look to take the company public. If they have an IPO, this will open up far more options for GreenSky Credit to grow and develop. One of the main advantages of this is that it will allow the company to try and expand into other product lines. This will include starting a business line that will allow for loans to businesses and other individuals.