One of the biggest challenges that people have had over the past 10 years has been getting access to loans when they need them the most. While traditional banks used to be more than willing to provide consumer loans for a variety of personal purposes, the last recession changed the way that banks do business a lot. Since there was a clear need for a lender to provide these loans, one company has stepped up and continued to be a leading provider of consumer loans.
One of the leading providers of consumer loans today is GreenSky . The company, which was founded more than 10 years ago, provides a wide range of consumer loans that are used for many different purposes. When GreenSky provides a loan, a consumer can use it to consolidate debt, make home repairs and renovations, or for any other purpose that they see fit. When GreenSky provides a loan, they are also partnering with a traditional bank that will take on the majority of the risk. GreenSky is then compensated for originating the loan and for servicing it going forward. The company has had more than 1.9 million loans funded since it was founded, which total more than $13 billion in original principal.
Now that the company has been able to establish itself in the field, the company is continuing to find ways to raise capital. Over the past few years, the company’s CEO and founder David Zalik has taken the company through several rounds of venture capital funding. This has provided the company with millions of dollars in capital to fuel the growth.
While the private venture capital method has worked well for GreenSky in the past, the company now has plans that could allow it to raise capital faster than ever before. The CEO of the company is now considering issuing an IPO and taking the company public. By doing this, they will be able to raise a considerable amount of money. Once they do this, GreenSky will be able to invest more in its business and find new areas for growth.