GreenSky, Inc. is a major name in the world of fintech, a portmanteau of the words technology and financial that refers to the integration of the planet’s latest technological developments into the field of financial services. GreenSky – particularly its lending program known as GreenSky Credit – has contributed to the field significantly by making it possible for individuals of all income levels and credit scores to receive funding in the thousands of dollars for whatever purposes they might need such money for.
In May 2018 – slightly more than three months ago, GreenSky opened its proverbial doors to the public in the form of an initial public offering, in which the company sold more than 34 million shares of common stock from as low as $21 per share to upwards of $23 per share. The company’s stock (GSKY) is currently rebounding from a steady price drop that it has experienced since it offered its stock for public investment and trades upwards of $19.
The workings of GreenSky Credit
GreenSky Credit regularly works with upwards of 13,000 merchants that lend approved customers funding ranging from a minimum of $1,000 to a maximum of $55,000, which longtime, reputable debtors are able to receive. So far, GreenSky Credit has met the financial needs of roughly 1.9 million customers to the tune of $13 billion – these statistics are current as of August 2018 and have been recorded since GreenSky’s incorporation in 2006.
Important financial information for GreenSky and GreenSky Credit
GreenSky, Inc. earned $85 million in revenue for its most recent fiscal year; from that $85,326,000 in revenue, GreenSky garnered $18.6 million in net income. The company currently holds $521.3 million in total assets offset by $545.9 in total liabilities. GreenSky – thanks to its revolutionary lending program GreenSky Credit – has been consistently profitable since 2016 according to its filings, all of which have been independently audited by major public accounting firms that are overseen by the United States Securities and Exchange Commission, the go-to authority when it comes to overseeing assertions made by companies with stock that is traded publicly on exchanges like the New York Stock Exchange and the NASDAQ Stock Market.