The idea for GreenSky Credit came to the company’s founder, David Zalik, as he was working as a consultant with some of the biggest names in home improvement. Zalik had noticed that the companies with which he was working, including Lowe’s, Home Depot and Benjamin Moore, were losing tens of millions of dollars each year when customers ended up being presented with final project costs that wildly diverged from their own personal estimates. He realized that if someone could provide these customers with instantly approved loans at the point of sale, many of these deals could be pushed through.
But first, Zalik would need to convince both retailers and banks that his idea was viable. Before GreenSky could even get off the ground, he would need to convince bankers to loan him the money to launch the venture. Later, he would need to convince many of those same banks that the borrowers with whom he was connecting them were good prospects for extending large, instantly approved loans.
Going all in on an idea
But as Zalik visited bank after bank, he slowly came to the realization that the idea behind GreenSky was simply too radical for the conservative tastes of traditional bankers. For starters, he still needed to develop a loan-making interface that would serve a wide variety of clients and industries. Without a ready-made demo, he found it nearly impossible to even keep the interest of bankers throughout the length of a single meeting. Eventually, Zalik realized that he would either have to go begging for money through venture capital firms or else he would need to raise the capital himself through the liquidation of his large real estate holdings.
He wound up choosing the latter option. This would ultimately prove to be a great bet. Without any equity partners, Zalik retained full ownership in the company. And this ultimately would make him a billionaire. Today, GreenSky is worth an estimated $5 billion, making it one of the most prominent fintech companies in the world. And as the company considers an IPO, the windfall could make Zalik among the richest people in the world.
Stephen M. Hicks, the Founder and Chief Executive Officer of Southridge Capital, has over thirty years of experience in the investment world. Founding the company in 1996, after working for a small hedge fund in New York, Mr. Hicks was granted the opportunity to strike out on his own and hasn’t looked back since. Today, he spends the majority of his time planning the trajectory of Southridge Capital, ensuring that each endeavor is beneficial to the company’s overall success and growth for the long term. For more details visit Bloomberg.
Stephen M. Hicks is a graduate of Kings College in Briarcliff Manor, New York, where he garnered a Bachelor of Science degree in Business Administration, before pursuing his postgraduate career at Fordham University. The success of Southridge is largely predicated upon the company’s ability to remain productive, as well as progressive. Each day, Mr. Hicks begins with a review of the existing companies within his portfolio, followed by the creation of a list detailing the necessary goals, and actions to complete them. He largely relies on his accrued knowledge and experience within the field to bring his ideas to life. Southridge Capital’s reputation within their section of Wall Street has created a strong level of visibility for the company, which, in turn, allows many of their clients to seek out their services.
As an entrepreneur, as well as the head of Southridge Capital, Stephen M. Hicks utilizes reliable news outlets, such as the Wall Street Journal, to seek out new opportunities. In recent years, he’s begun placing significant emphasis on the future of cryptocurrency and the budding legal marijuana industry. Despite the significant differences between the two markets, they share a number of common characteristics, most notably, their tremendous profit potential. By Mr. Hicks’ estimation, these two sectors have already begun showing signs of significant growth, but have only begun to scratch the surface. While Stephen M. Hicks has experienced a number of successes over the years, a bad investment in a company called Petals, which resulted in a significant financial hit, caused him to change his investment strategy, which now focuses more heavily on cash proceeds, than returns on investment. Check out southridgeholdingsllc.com
Since 2002 the lending company, Equities First Holdings, has been providing capitol for individuals or businesses. This company provides is able to provide a type of freedom with cash for anyone is able to demonstrate a high value net worth. When the United States market began to deal with liquidity, the company began operations to give investors a sign of relief to their financial problems with banks. Over the years the company has been able access loans even for start-up capitol to their clients. It has expanded to operate in countries all over the world, from United States, to Sydney, to United Kingom, to China, London, even Japan, South Korea, etc. The company has about five different operating principles, each of them has to be able to manage a designated portion of business. With all their fantastic work the company still continues to provide all businesses or individuals with relief.
Randal Nardone is a well-known Lawyer the shift gears into finance. After getting it started Thacher Proffit & Wood, he advanced up the ranks at BlackRock Financial and then eventually the Union Bank of Switzerland. While working in a high capacity for one of the prolific Swiss banks in the world may seem like a very lofty target for most, this simply was not enough for him. It’s for this reason that Randal Nardone established Fortress Investment Group in 1998, and the company has exploded in growth since then.
It is this recent growth that has given him a coveted spot on Forbes Billionaire list. With a net worth of $1.8 Billion, Randal Nardone is currently the #557th ranked billionaire, all while being entirely self-made. His incredible wealth is almost entirely tied to his stake in Fortress Investment group. In addition to this, he has earned over $100,000,000 in other cash compensation.
Today Randal Nardone continues to serve as the CEO of Fortress Investment Group. Is return to the company in 2011 was altogether fitting, considering his role in the beginning. As of a report on June, 30th 2016 the company manages more than 70 billion dollars in alternative assets. These assets are split among private equity, liquid hedge funds, as well as credit funds.
Beyond the obvious financial achievements of Randal Nardone come a wealth of other achievements. In 2014, under his guidance fortress Investment Group was awarded “Hedge Fund Manager of the Year” by Institutional Investor as well as “Managment Firm of the Year” by HFMWeek. Additionally, The company has been recognized and praised by Institutional investor as being the Discretionary Macro-Focused Hedge Fund of the Year” for 2012, as well as “Credit-Focused Fund of the Year” for two years in a row from 2010 to 2011.
All this has come together with the company’s most recent development, the acquisition by SoftBank Group. Initially planned outon February 14th, 2017 Softbank agreed that it would buy the company for $3.3 Billion. This acquisition completed in December that same year.
At just 51 years of age, Randal Nardone has achieved a considerable fortune. He’s been able to make his success through strong connections with other brilliant investors as well as a steadfast dedication to his company’s continued success. While Fortress Investment Group may no longer be a stand-alone entity, his influence still lives on with him as the CEO of the company.
For details: www.marketswiki.com/wiki/Randal_A._Nardone
PSI-Pay Ltd is one of the biggest financial technology companies in the United Kingdom. They offer many different services such debit cards, prepayment cards, virtual card and a contractless program called Paypass. Inventions in business is a good way to attract new customers. Paypass allows customers to pay using their smartphones or key fod without out the hassle of carrying around loose change or paper money. They are also affiliated with Mastercard Worldwide. The partnership gives customer the peace of mind that their money in the right hands. Also, this partnership tells investors that PSI Pay has the worldwide presence of Mastercard Worldwide. PSI Pay’s invention and partnerships have lead to the company growing substantially over the years.
In 2015, PSI-Pay LTD had its best fiscal year to date. This company saw their businesses volume increase by 29 percent, income revenue by 45 percent and pretax profits by 5.5 percent. These profits came right after a strong 2014 profits, where 15 percent revenue increase and and 43 percent gross profit increase. Phil Davies, Managing Director commented about the growth of PSI-Pay Ltd. He said “It has been a concerted team effort and demonstrates the calibre of staff we now have, my thanks to all concerned.” Also, Davies explained the growth was the launch of new exciting products, the successful launch of affiliate programs, promotional programs and expanding their business worldwide. He was also pleased with PSI’s payment card programs and that he is confident that PSI-Pay will be successful in the future.
The business is not a static place. Many investors and customers feared that Brexit would negatively impact the financial institutions across the United Kingdom. Customers and business owners have a lot of questions. Will I lose my savings? Will PSI-Pay go under? Should I move my money to another bank? About Brexit, Davies said ; “Whatever your views on the outcome of the referendum we at least have a defining answer to work with and the subsequent stability will be welcome.” PSI-Pay Ltd has been preparing for this eventuality. Also, they are ensuring investors business partners and customers that business will go as usual and they see no negative effects either way. In the world of business, PSI-Pay Ltd has been staying a step ahead of the market. PSI-Pay Ltd has continued to grow because they have made progressive strides in new ideas in the world of business world. As well as, Psi-Pay Ltd convince customers that their business is the best place to do business.
PSI-Pay Info: www.duedil.com/company/gb/05899168/psi-pay-ltd