David Zalik moved to the United States from Israel with his family when he was three years old. He showed enormous aptitude in school, accelerating his way through elementary, middle and high school and eventually graduating from the latter at the age of 12. He was invited to attend Auburn University where he began studying economics.
But the young and highly talented Zalik grew bored with the structured learning regime of college. At the age of 14, he struck out on his own, founding a company that built computers called MicroTech. Over the next 8 years, Zalik worked diligently to build his company into a viable operation. He was eventually able to sell it at the age of 22 for $5 million.
Zalik plowed all of the profits from that business into Atlanta-area commercial real estate, building a small real estate empire in the process. By the time he was in his early 30s, he was worth more than $12 million. But Zalik was not in it purely for the money. He longed for the challenge of building something significant, creating new technologies and processes that would genuinely help people.
It was at this time that he became aware of a serious problem in the home improvement business. Zalik saw that home improvement companies and the contractors that did business with them were losing large sums when inexpert homeowners who were looking to renovate their properties were unable to accurately estimate costs. Many of these homeowners would come into a deal expecting the final price tag to be tens of thousands of dollars less than it actually was. When they experienced the sticker shock of having so vastly underestimated the cost of their projects, these home remodeling projects often fell through.
Zalik founded GreenSky Credit as a way to combat this. GreenSky Credit enables contractors to extend instant loans of up to high-six-figure amounts at job sites. GreenSky Credit works with some of the top banks in America, and GreenSky Credit customers typically have outstanding credit, with many of its customers in the 800-plus FICO range.
GreenSky Credit is able to bring parties together, making deals happen where everyone emerges a winner.