Browse Category: Finance

GreenSky Credit makes novel lending model work

When entrepreneur David Zalik went on a cross-country roadshow to pitch his latest business idea to bankers, he didn’t anticipate the levels of resistance that he would shortly encounter. Zalik, at that time 32, had been in business for his entire life. He knew how the financing game was played and fully expected that he could drum up enough support from traditional banks to fully finance the launching of his latest venture, GreenSky Credit.

But it turned out that even though the GreenSky business model was one that relied exclusively on making the safest kinds of prime loans, the revenue model of the company was so novel that many bankers thought it couldn’t work. And even the ones who did think it would work wanted to see a track record of success before putting up any loan money. Ironically, the company that sought to become one of the most important lenders in the country couldn’t get a single bank to extend it a loan of its own.

Zalik is proven right again

Zalik eventually ended up financing the entire company himself. Taking on a tremendous personal risk, he liquidated his entire fortune of around $12 million and bet it all on the future of GreenSky. But this would turn out to be one of the best bets that not only Zalik but anyone in the recent history of American business has made.

Just as Zalik had predicted to the dozens of bankers that he visited while pitching his idea, the revenue model worked. The secret to brining all of the parties together and attracting many of the top lenders in the country to sign up through the GreenSky platform was simple: GreenSky made sure that everyone involved with its deals walked away a big winner.

The customers, most of whom were doing high-end home remodeling projects, almost always added more to the value of their homes than the projects themselves cost. At the same time, the lenders were getting some of the top-end borrowers in the market, with the average GreenSky customer having a FICO score in the 800-plus range.

James River Capitals Guide to the 3 Leadership Traits to Develop

Leaders are essential to a company’s growth and success. They are also the makers or breakers of a team. According to James River Capital Corp., an investment advisor, there are three changes a person should make to improve their leadership style. The three changes are quite simple yet not as easy to execute.


James River Capital Corp. began as KP Futures Management Corp. in 1986. It became an investment firm in 1995 when one of the senior officers, Paul Saunders, had acquired the business and eventually the corporation finally registered with the SEC as an investment advisor and from here the corporation has gone to make over $570 million. James River Capital Corp. has also gained various awards and recognitions over the past years as an investment advisor.


James River Capital notes that leadership is understood as a science and as an art. Leaders are individuals who are capable of effectively managing and handling people with the proper discipline and knowledge. The first leadership trait to develop is being the supportive leader. Building a good support system for a team instead of demanding work from a team. Leaders at one of the largest social media networks, Facebook, shifted their mentality by making the critical change in “supporting” their team instead of “leading” them and it has made their business one of the more successful ones to date. Learn more:


Encouraging honest and critical feedback is the second change in a person’s leadership traits that will enable a team to provide honest and critical feedback to upper management. Take for example, Google. They encourage employees to approach their leaders with feedback and problems and they maintain a policy where everyone in the team is encouraged to speak. This creates a safe and healthy environment where the individuals in a team feel that their concerns, feedback and voice matters.


Lastly, the third trait of leadership is to value everyone’s opinion. Leaders are there to support their team. One of the largest obstacles a team may face is its employees holding back their opinion due to fear of being reprimanded for honest observations. During meetings, make a list of the people attending and allow each person to provide their input on a certain topic or discussion point of the meeting. Remember to engage those who are often more introverted but not pushing or forcing them to give input if they are not full open to the idea. Making sure everyone has a chance to voice their sentiments along with their appreciation is a highly recommended trait that will turn your team around and allow for a successful team to grow.


Infinity Group Australia Nominated for More Awards

Infinity Group Australia has been nominated for three more awards, which adds to an increasingly long list of achievements that it has received in the past year.


The company is a financial institution that seeks to help people in Australia to reduce their debts while creating a secure financial base for the future. They pride themselves on building strong relationships with their clients and working with passion and integrity to help them.


This new honor comes from the Australian Mortgage Awards, which are scheduled to take place sometime next month. Infinity Group Australia has received nominations in three different categories, including Young Gun of the Year–Independent, New Brokerage of the Year and Brokerage of the Year (1-5 Staff).


As with any award, being nominated is a great honor by itself, even if the company does not win; either way, this is yet another impressive achievement that Infinity Group Australia has managed in 2018. It also won a prize for the category of IQPC Customer Experience Management, showing its great dedication to its clients and services. In addition, it ranked 58th on the AFR list of the 1,000 most innovative companies in Australia and New Zealand, putting it in the top 5.8 percent of them all.


The director and co-founder of Infinity Group Australia, Graeme Holm, expressed his pride when the latter achievement was announced. He also congratulated the company for the creativity that was necessary for it to merit such a high rank.


Aside from their many awards, 2018 has proven to be a good year for this company. In the last twelve month it has recorded earning its clients $6.3 million in reductions to their mortgages, along with a combined 3,376 years of time. It is now averaging $41,000 in debt elimination for each client who uses their services. With all that in mind, it is not hard to see why they have been receiving so many accolades recently.


The company is spread throughout Australia, with smaller subsidiaries in Brisbane, Cronulla and Bella Vista, allowing it to give clients more individual care. It is also partnering with several large institutions as of late.


Infinity Group Australia got its origin in 2012, when Graeme Holm, then involved in banking, became frustrated with the kind of service that lower-income Australians got from most financial institutions. He started the company with his wife, Rebecca Walker, who co-directs it with him today.


He describes Infinity Group Australia’s role as a sort of “personal trainer” assigned to help their customers manage their finances. The main flaw of other institutions, he discovered, is that they do not work long-term to make sure that their clients are keeping on track with their money. To combat that problem, his firm focuses on helping the average Australian to first figure out how to use their money, and then provides ongoing assistance.


Infinity Group Australia’s growing list of awards seems to indicate that this strategy is working so far. Hopefully 2019 will be just as lucky for them. Learn more:


Michael Burwell-The Golden Days Return

Michael Burwell is one of the most fascinating CFOs you will ever meet in life. Burwell’s career in the corporate world spans over three decades, a time Michael Burwell has used well to perfect his act. Michael, who is currently the Chief Financial Officer of Willis Towers Watson, began his career in PwC.


PwC, as you are aware, is one of the best auditing firms in the world, a place where Michael called home for thirty-one good years. Burwell, in his time at Pricewaterhouse Coopers, was able to rise through the ranks and left the company after serving as its vice-chairman.


The alumnus of the Michigan State University owes his successes to his background knowledge in business administration. Burwell, from the get-go, has been a hard worker who loves accomplishing things. It is for that reason that Michael dedicates an hour or two every morning to bicycle rides, the time he uses to brainstorm and create a program for the day.


Mr. Burwell owes his current successes to the surrounding people. Michael, being a good listener, welcomes every idea that comes his way and ensures that he capitalizes on the same. The Michigan State University Alumnus of the Year has made a career out of listening to people no matter how junior they are, for every individual has something important to say.


Mike also loves technology and innovation. Michael Burwell, being a lover of ideas, ensures that he learns about a new app every day, an application that can help solve life’s problems. Mr. Michael has always embraced the power of positivity and that is why is he going places no one has ever reached.


Unknown to many is that Michael Burwell, too, has made his fair share of mistakes. Did these erroneous mistakes break him? Mike, despite the challenges, has always picked up the pieces and forged forwards. Therefore, there is no mistake you cannot correct. Indeed, the leader of the Willis Towers Watson has enjoyed a lot of success over the years because of being an excellent listener. Read This Article for additional information.


Hence, you too can learn the ropes that will make you successful in the end. Burwell apart from his proficiency in business administration is also skilled in financial analysis, internal controls, accounting, portfolio management, auditing, taxation, and mergers and accusations. In truth, Willis Towers Watson is moving in the right direction because of Michael Burwell, a man who brings value wherever he goes.



See Also: