The job markets of Atlanta and Cincinnati have increased thanks to the home improvement / consumer credit company GreenSky Credit, and from what we’ve seen, options on the consumer side, and employment side, are looking pretty solid. GreenSky Credit, first and foremost, considers themselves a tech-based company, and is part of demographic in the finance industry looking to push the boundaries on technologies that are assisting banks and merchants alike, to be able to extend credit lines to individual consumers that are spending specific, lump sum, amounts on specific types of projects, such as home improvement projects, solar upgrades, and various medical procedures. This market, according to the Atlanta Business Chronicle and other sources, is call the fintech market, and includes includes other companies, along with GreenSky, like Social Finance Inc, the Lending Club, and Affirm Incorporated.
According to the Wall Street Journal, what makes GreenSky Credit, and the other similar companies within the “fintech market” unique, is that the company itself does not make loans using its own capital, but rather, contracts through various partner banks, who make loans online, to merchants through use of its online lenders app. For the most part, these are merchants who specialize in home improvement products or are furniture stores. What makes the technology useful, however, is its ability to help the consumer quickly tackle large products in one loan, usually by means of a credit card that is sent from the merchant to the consumer, and are paid back in installments, based on a fixed rate, that is pre negotiated by the lender.
On the careers side, thanks to companies in the fintech arena like GreenSky Credit, options look promising as well. According to sources, the Atlanta and Cincinnati based calls centers have recently gone through some fairly major expansion, bringing more than six hundred entry level based positions to the area. With most positions starting at twenty dollars an hour, we would say this makes for a very tasteful job market boost.
All in all, things are looking up for the fintech group. On the books, revenues are way up, and the company has, through its credit program, leant out well over five billion dollars, and that is just within the last few years. After having taken a closer look, we would definitely recommend fintech as an option for the home renovator and employment seeker alike and would consider our interest for investment in this particular tech movement effectively sparked.