David Zalik is the Chief Executive Officer of the GreenSky, LLC. The company was formerly known as GreenSky Credit LLC. He has been at the helm of the company since he founded it in 2006. David is also the Chairman of the board of directors.
GreenSky Credit is a Fintech organization that acts as a middleman for spot financing on home improvement projects. It connects homeowners to an extensive network of contractors and bank partners to get financing of up to $65,000. In contrast to the conventional banking system, most borrowers do not pay any interest for the promotional period of 6 to 60 months.
Recently, the company started offering loans to professional services such as dentists, doctors, and veterinary offices. Over the time it has been in operation, GreenSky Credit has provided loads of over $10 billion. The company is valued at about $4.5 billion. It takes revenue of about $250 million a year. The primary advantage of this innovation is that it is scalable. If the company finds another segment attractive, it can start offering loans to the new sector. Therefore, it is not limited to home renovation loans. In the future, it could provide an alternative to credit card loans.
David Zalid was born to immigrant parents that had moved through different countries fleeing communism. Both parents ended up in Israel where they met, and Zalik was born. The family settled in Alabama USA when he was 4. At a young age, he started assembling PCs and reselling them. By the age of 22 years, David had a company called MicroTech and employed 20 employees, which he later sold. He then started a real estate company before beginning the Outweb Company to help companies build websites. Later on, David founded Rockbridge Commercial Bank, which failed.
It was from this point that he started a finance company targeting consumers and home contractors. The company grew over the years to become the financial company GreenSky Credit. Today, the company offers to underwrite based on credit bureau reports and FICO scores just like the banks do.