GreenSky is one of the leading forces in the world of fintech, a mix-up of financial services and modern technology. The company – more or less – links financial institutions ready to lend money to consumers and small businesses with those consumers and small businesses, taking a cut from both the recipient and sender of the loans that disburse them to the aforementioned debtors.
Having disbursed over $13 billion through GreenSky Credit, the company’s lending program, it has reached the wallets of about 1,900,000 customers and more than 13,000 lenders that are currently active at the time of publication.
What is GreenSky Credit for?
The world is full of credit cards, retailers and wholesalers alike that are willing to loan their goods out to potential customers, mortgages, and other forms of consumer debt. Further, the United States – the market that GreenSky Credit serves – is home to one of the world’s greatest consumer debt loads per capita.
Why don’t consumers opt for the countless forms of traditional lending that exists?
GreenSky Credit is unique in that it offers loans at interest rates that traditional financial institutions offer – not the high-interest “flex” loans that are taking low-income households by storm – to consumers more quickly than traditional loans can be consummated.
Consumers can receive funding through GreenSky Credit by filling out a few simple forms on either GreenSky’s website or its mobile application. Not too many financial services companies offer the same means of applying for financing to customers.
Builders have traditionally been a favorite of GreenSky Credit
In construction, contractors – unless they own mid-sized to large companies – are typically unable to get their hands on enough money from customers to purchase all the materials that are necessary to complete tasks at hand. As such, they can be greatly aided by programs like the Greensky Home Improvement Payment Card.
The GreenSky Home Improvement Payment Card, for example, is a six-month-long line of credit that builders can purchase all the materials they’re approved for with. This helps complete jobs faster, ultimately garnering payments quicker than without such oh-so-clutch financing.