What is GreenSky LLC?
It's a private financial technology company based in Atlanta, Georgia, which operates as a third party service provider and programme administrator for federally insured, federal and state chartered banks that provide consumer loans. It helps businesses to offer credit to their customers.
What you need to know about GreenSky LLC.
The company essentially supplants credit cards for focused spending on projects such as home improvement, and then effects a fixed-period and fixed-interest-rate payback. It serves customers from big businesses to small firms, and consumers through merchant, provider and retailer networks in the US.
GreenSky doesn’t make loans. Instead, it signs up merchants who sell big-ticket items such as furniture, window replacement or roofing. It recently expanded to handle elective medical procedures too. Then it matches the merchant with one of a group of banks willing to extend loans to qualified consumers.
From 2012-16 almost $5 billion was lent through the GreenSky credit programme.