Most everyday consumers probably haven’t heard of GreenSky Credit. But this quiet company is shaking up the home improvement, retail, and healthcare industries. What started as a simple concept has turned into a multi-billion dollar business.
David Zalik, CEO of GreenSky Credit, came here as an immigrant when he was 4. He loved paging through math textbooks, and at age 13 he aced the SATs. College followed and many innovative ideas for earning money. His different experiences led him to offer a unique way for home contractors to receive a bigger bid while giving homeowners a chance to pay for the project of their dreams.
GreenSky Credit is a relatively simple premise. It simply links homeowners to banks that are willing to take on construction loans. The application process is fast and easy and the contractor has access to the money as soon as the homeowner is approved. Instead of a couple saving $5,000 for new windows, they can pay that money out over time in the form of an installment loan. This gives the homeowners better options of paying and often increases the size of the project, which benefits the contractor.
Today, GreenSky Credit has also branched out to include healthcare loans for those who are facing medical bills they cannot pay and furniture retailers. Business owners, as well as the consumers who have gotten a loan through GreenSky Credit, have been impressed with the smooth process.
In what many financial experts consider a smart move, David Zalik stays out of the public eye as much as possible. He isn’t ready for an IPO as of yet, as he likes to be in control of his own company. You won’t see him doing TV commercials and interviews and he doesn’t raise money for his business. He put $10 million of his own money into the business to start out with and has avoided the need for investors ever since.
GreenSky Credit has earned a rating of A+ from the Better Business Bureau. As the company expands, be prepared to start hearing their name more often.
Sahm Adrangi is a high-profile Chief Investment Officer from New York. He received his undergraduate education in Economics from the prestigious Yale University. Sahm Adrangi is the founder of a New York-based company Kerrisdale Capital. His company’s focus is on long-term value investments and event driven situations. Mr. Adrangi has an experienced background in managing some high profile companies. Companies such as Chanin Capital Partners, Longacre Fund Management, and Deutsche Bank are one of many that have had the pleasure of Mr. Adrangi’s investment services. His most recent, yet limited services involve a company called The Eastman KODAK Company, formerly known as KODAK.
The Eastman KODAK company has been around for almost six centuries. KODAK is well-known for its commercial printing and imaging. The company has been faced with a financial decline for many years and the company is desperate for profits. In order for KODAK to rebound from its slippery slope towards bankruptcy it has launched KODAKOne and KODAKCoin in a last-minute ditch effort to make profit for its photographers and shareholders. According to Sahm Adrangi and his team at Kerrisdale Capital he believes this company’s gamble is a complete economic disaster and they are deceiving the public by tailoring and falsely boosting their profits for their own benefit. KODAK’s shares have risen based on falsified hype. Unfortunately, for KODAK they have centered their last bit of economic hope on one Initial Coin Offering (ICO) called KODAKCoin.
KODAKCoin is backed by a man who’s the Chairman and Founder of a decent ICO firm. He was banned from a Canadian stock exchange. As a result, this Chairman, who is known for promoting stock, has a past that raises the question of integrity. Further, KODAK has been trying to remedy their copyright infringement. So they have released KODAKOne, which is a media licensing that will be utilizing smart contracts through blockchain technology. The downside to this is that photographers and shareholders will have to receive payment in cryptocurrency. The downside to KODAK entering the cryptocurrency market prematurely is that they do not have a profitable reputation. According to Sahm Adrangi, their misfortunes have led them to bankruptcy six years ago; and they are currently headed on the same path.