The sky is the limit when it comes to GreenSky and how it can help people make the kind of home improvements that they want to on their properties. A lot of people seem to think that we are still stuck in the old ways of borrowing and using capital. They believe that in order to obtain funding for a home improvement that a person needs to go to a bank themselves and ask for those funds. Fortunately, that is not necessarily the case.
GreenSky has opened new doors of possibility by partnering with banks themselves to find great loans for those who are attempting to do a home improvement or even an elective medical procedure. They decided that it would be a lot easier to give consumers the ability to log on to the GreenSky app for free on their phones and find out what kind of loans if any they qualify for. You can think of GreenSky as being a middleman of sorts that makes the process of obtaining this money a lot easier than it was in the past.
David Zalik is the man that you can credit with having come up with this brilliant company. He looked around and saw a need for consumers to have access to a wider range of loans in the general consumer loan market. He figured that he could use his partnerships with banks to make money for GreenSky while at the same time make the process of applying for a home improvement loan a lot easier as well.
The company is paid about one percent of the total value of the loan by the bank that they partner with. This percentage can vary depending on the performance of the loan, but for the most part GreenSky is able to find qualified borrowers that it has confidence in. This has meant a nice payday for the company and a much easier way to obtain some funds for repairs for consumers. Banks are also happy to have a whole new crop of customers that they did not have in the past. It is a winning formula for all who are involved.