GreenSky Credit Is Big – Here’s Why

GreenSky LLC is a mid-sized lender based in Atlanta, Georgia founded in 2006 by chief executive officer David Zalik. The company is the third-largest financial technology company in the United States – the field is also known as fintech, a mashup of the words financial and technology – despite being created just longer than a decade ago.

The company recently held an initial public offering, filing confidentially with the United States Securities and Exchange Commission back in early April 2018. In that IPO, GreenSky raised just short of $1 billion – $874 million, to be exact – in funding. Altogether, David Zalik’s GreenSky traded a whopping 38 million public shares in exchange for investments in the budding company.

While GreenSky is doing pretty well for itself, David Zalik is doing even better – just after the aforementioned IPO, David Zalik was officially worth roughly $2.5 billion. His net worth is based mostly on the price of shares of GreenSky, of which he owns a majority stake.

How did GreenSky become so big?

GreenSky does nothing but lends money to approved applicants – so far, the company has given out some $12 billion to over one million happy debtors – through GreenSky Credit, a program that’s a part of David Zalik’s GreenSky.

GreenSky Credit provides approved applicants with up to $65,000. Most of such money goes to mid-sized corporate construction companies, though plenty gets shoveled to smaller construction causes. GreenSky Credit lends out so much money to builders because they’re often not paid until their agreed-upon work is complete; at best, they’re paid in installments, potentially leaving them for weeks without their customers’ capital.

David Zalik realized that GreenSky could grow to such a lofty level of success after he gained experience in the construction industry directly following the turn of the millennium. No more than a few years after the experience, GreenSky and its well-known program GreenSky Credit picked up financing from TPG, ICONIQ Capital, and PIMCO, three of the largest institutional investors across the United States. Last December, GreenSky was worth $4.5 billion.

https://www.cnbc.com/2017/05/15/greensky-2017-disruptor-50.html

Sam Tabar Invests in the Future

 

Sam Tabar has spent a large part of his career in the fund management industry. Tabar was head of capital strategy for Merrill Lynch. He gave instructions to investors focusing on endowments, foundations, pensions, fund of funds, and family offices. Tabar was able to build front and back office teams of expert staff.

 

Before working for Merrill Lynch he served as Co-Head of Marketing for Sparx Group. It was the largest privately operated fund in the Asia Pacific area. Tabar was big into marketing and would oversee all marketing efforts. Sam Tabar has a skill for connecting with new investment firms all across the globe.

 

In the past Sam Tabar has worked as an attorney for several firms such as Skadden, Arps, Meagher, and Slate & Flom. He has obtained a Masters of Law from Columbia Law School and also studied arts at Oxford University. He graduated with all honors.

 

While Sam Tabar was studying in school he picked up a gig working for the Columbia Business Law Journal as an editor to make some money and get experience with journalism and media. Working with the journal teaches you a lot about how stories get marketed. In addition, he is an active member of member of the New York State Bar, as per his Lawyerist profile page.

 

On the side Tabar has been working as a private investor helping small startups grow. One of his biggest investments was to a small company called SheThinx. Tabar was one of the first investors for this company. Beauty products and feminine hygiene products have played a big role in women’s lives about how women should look in society. There have been standards set for how a women should look and act in public. This makes some women more insecure about the way they look and afraid to stand up for what they believe is right.

 

SheThinx is a new company dedicated to changing the feminine hygiene industry. The company has a mission to help women stand up for themselves and realize they have the power to make changes in society as well. Women can be just as successful as men.  That discovery of what charitable contributions can actually accomplish motivated Sam to go out on his own as well.  That’s why Sam made his GoFundMe page for African charities.