With its main offices situated in Atlanta, GreenSky Credit LLC is a company that specializes in providing financial technology to various merchants, banks, and other financial clientele who wish to take loans for healthcare, home improvements, and commercial projects among other purposes. The federally insured, state charted, and federal financial institutions finance GreenSky Credit. In its credit programs from 2012 to 2016, it received about $5 billion.
GreenSky Credit is not very popular as compared to other fintech companies in the market due to the fact that it does not offer loans drawn from its capital. However, it collaborates with 14 banks such as Regions Financial Corp to provide loans to traders in 50 states. Besides the partnerships with lenders, it also makes online loans available to customers through its GreenSky mobile application. Its clients range from retailers to individual contractors. As a result, GreenSky LLC has become a popular lone lender to various demanding businesses, small businesses, and medium sized business.
In order to extend its business roots, GreenSky Credit has considered investing nearly $7 million in a project that could see it relocate Crestview Hills. This project will see it make significant strides towards its growth. It is estimated that the company will stand a chance of creating up to 50 jobs to begin at $20 on average per hour coupled with other benefits. The number of jobs is likely to grow to 200 after three years of operation.
Market Capitalization and Value
After its conception in 2006, GreenSky credit fundraised $50 million in cash and an approximated $2 billion lending program with the Fifth Third Bancorp in Cincinnati. With the money, the company was valued at $3.6 billion. It has also been valued as much twice. Its last fundraising was in 2014 and allowed it to collect nearly $300 million. According to the Wall Street Journal, the company’s valuation of 2016 ranked it as one of the highest valued privately held fintech startups.