GreenSky Credit offers high-end loans for high-end borrowers

The fintech industry, like so many other tech fields, had a nasty fetish for inclusion that has nearly destroyed it. Companies like OnDeck and Lending Club built their entire business models around inclusive finance, such as community reinvestment, NINJA loans and micro-lending.

While the sentiments that underpin these quixotic efforts to change the basic laws of finance and human nature may be laudable, the end result of believing in financial fantasies is always financial ruin. And this is precisely what has befallen OnDeck and Lending Club, with both companies trading at just fractions of their all-time stock highs and with many observers predicting liquidation for both firms.

GreenSky bets on exclusive loans

But while its fallen competitors were tilting at imaginary windmills, GreenSky Credit was building a viable business around proven money-making techniques. The company opted to go after deals where not just one party would make money, with the other being rapaciously exploited and left to the vultures. Instead, GreenSky understood that by excluding the vast majority of deals and the vast majority of applicants, it could create lending opportunities where the customers, the bank and the retailer all walked away huge winners.

GreenSky did this by concentrating on creating a technological interface that allows for retail customers doing high-end home improvements to instantly access financing in amounts up to the hundreds of thousands of dollars. The secret behind the company’s phenomenal success is that the firm only concentrates on the absolute top end of the prime borrower category. This typically means that GreenSky customers will have FICO scores of 760 and higher, making them highly attractive lending prospects for the largest and most respected lenders in the country.

Because the customers are so creditworthy, the lenders are able to extend loans on some of the best possible terms. The average GreenSky loan comes with no interest or payments required in the first year. After that, the interest rates can jump as high as 18 percent. But most of the company’s customers pay the loans off in full before the higher rates kick in.

https://www.indeed.com/q-Greensky-Credit-jobs.html

Stream Energy Launches Charity Foundation to Formalize their Philanthropic Efforts

Stream Energy is an energy company that directly sells to customers. Pierre Koshakji and Rob Snyder founded Stream Energy in 2005 in Dallas, Texas. Since then, Stream Energy has become one of the largest energy companies involved in direct selling worldwide. Koshakji and Snyder founded Stream Energy on the idea of selling energy through word-of-mouth. They are able to do this now through their thousands of Independent Associates located across the United States. The company currently offers services in Texas, Washington D.C., Maryland, New York, New Jersey, Delaware, Illinois, Ohio and Georgia. They also offer wireless plans for phones, home services and health services.

Recently, Stream Energy was featured on Patch.com for their philanthropic efforts. In March 2018, Stream Energy launched their own charity foundation called “Stream Cares.” This is following their long history of involvement in their community and philanthropic efforts. The company has established relationships with Habitat for Humanity and the Red Cross. They are also involved in helping the homeless in the Dallas area. The company regularly tracks the homelessness rate in Dallas. They partnered with Hope Supply Co. a Dallas-based organization to cover entrance fees and meal costs for over 1000 children in Texas at the annual Splash for Hope event which is an event for homeless children at a local water park. Also, in 2016 after a devastating Tornado, Stream worked with the Salvation Army and raised money for those who lost their homes or businesses. They did this by matching their employees’ sales and doubling those numbers to donate to victims. Stream also partnered with Operation Once in a Lifetime to provide emotional and financial support to veterans in the Dallas area. They donated transportation to veterans so that they could attend a special lunch for them. Philanthropy and charity has long been a part of Stream’s culture and their new foundation simply formalizes their efforts.

https://mystream.com/services/home