If you’re looking for a strong stock to invest in, GreenSky may be worth buying. Its stock appreciated by 17.1% in the month of August, and there are many reasons to be bullish about its future. Let’s take a look at what GreenSky does and why it has been so successful in the second half of 2018.
The Company Makes Loans to Homeowners and Medical Borrowers
GreenSky acts as the middleman between consumers who need financing and contractors who want to offer it to their customers. It makes money when it generates a loan and also makes money from the lending institutions that service the loans on its behalf. This allows the company to make money from both sides of a loan without having to take as much of the risk. They also don’t have to worry about marketing because the contractors will let customers know about the financing that is available to them.
GreenSky Is Poised to Continue Growing
Although the company is currently growing at a fast rate, there is a strong belief that it can sustain that growth over the next few quarters. Although it primarily makes loans to homeowners and medical professionals, there are other sectors that it hopes to get into. The company also has partnered with American Express, which may allow it to develop relationships with a variety of different service providers that is doesn’t currently serve.
How Do You Get a Loan?
The process of getting a loan is relatively simple. All you need to do is to the organization’s mobile app, fill out the application and wait for a loan decision. The process takes about 60 seconds to complete, and lenders will compete for your business. This means that you get a loan at affordable terms to fit your needs and budget.