Industry

DAVID ZALIK: GREENSKY CREDIT ONLINE LENDER

Founded in 2006 as GreenSky Trade Credit LLC by David Zalik, GreenSky Financial LLC is a private equity firm based in the Southern state of Atlanta. It changed its name in December 2015 and offers quick and paperless financial services, credit and consumer lending to businesses through its online platform. It helps enterprises provide credit to their customers by acting as a program administrator and third-party service provider for federally and state insured chartered banks that offer consumer loans. Besides providing revolving credit products and installment loans it also provides credit programs for elective medical providers, home improvement merchants, and furniture retailers.

Through its merchant, retailer and provider networks all over the US, it serves both consumers and large, medium and small-scale businesses. David Zalik’s GreenSky offers business card service as well as same day funding for submitted invoices, online transaction management, credit services and invoice verification.

ABOUT DAVID ZALIK

Co-Founder and Chief Executive Officer for GreenSky, 43-year-old David Zalik were born in Israel with his family moving to the USA when he was four years old and settling in Alabama. His father became a Mathematics professor at Auburn, and he attended the same school his father was teaching but later dropped out to concentrate on building his computer assembly company, MicroTech. In 1996 then aged 22 years he sold the 20-employee company for a tune a few million dollars and moved to Atlanta. Zalik later founded Outweb Inc., a consultancy for businesses trying to create their websites, in 1999 after a few years of investing in the real estate sector. He helped start the Rockbridge Commercial Bank in 2006 which initially attracted capital from a clique of local investors including billionaire Bernie Marcus, co-founder Home Depot. In three years’ time, it failed making him lose up to $500,000 and lawsuits from the FDIC.

It is after all this that he founded GreenSky, which he named after hearing Willie Nelson’s rendition of Blue Skies. Robert Sheft, an investor, and founder of RMA Home Services, later joined him their big pitch being less hassle in offering their customers financing as compared to stalwarts like Wells Fargo and GE.

David Zalik has also served on the board of directors of The Marcus Community Centre, The Jewish Federation of Greater Atlanta and Hands on Atlanta. He has been a recipient of the 2000 Abe Schwartz Young Leadership award, 2003 catalyst Entrepreneur of the Year Award and 2016 EY Entrepreneur of the Year Award.

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Talos Energy Reforming Mexico’s Oil Industry

For over 80 years, a private company had not sunk a new offshore oil well in Mexican waters. However, recently Talos Energy LLC managed to take part which brought foreign competitors back into the energy markets. Houston’s Talos Energy, London –based Premier Oil and Sierra Oil &Gas formed a joint venture and started drilling the well. Since Mexico nationalized its oil industry in 1993, the joint venture was the first offshore exploration to be launched other than state-run monopoly Petroleos Mexicanos.

Premier stated in their statement that the Sureste-based basin off Tabasco State called Zama-1 well holds about 100 million to 50 million barrels of crude. 90 days is expected to be utilized to complete drilling at the cost of $ 16million. In 2015, the three companies in the joint venture won the rights to the prospect. They won after Mexico voted to launch an ailing oil industry to private investment in the first round of bidding.

The basin structure of Zama suggests a high geological chance of success. Elaine Reynolds, an analyst at Edison Investment Research Ltd., in London said that the well would be keenly watched. The well is the first non-Premix to be drilled. An analyst at Canaccord Genuity Ltd. stated that according to the Mexican Market, Zama is among the top impressive exploration wells to be drilled in the industry. Talos Energy owns a 35% stake in the partnership. Therefore, Talos is the operator, Premier holds 25%, and Sierra owns 40 percent.

Talos Energy Ltd is a private oil and gas company with years of experience in the offshore exploration and production industry. Before launching Talos Energy in 2012, the organization had built and sold two Gulfs of Mexico oil and gas industries, Gryphon Exploration Co. and Phoenix Exploration Co. recording positive results for Talos Energy Ltd.

Talos Energy Ltd is based in USA, Houston but mainly operates its assets in their business in south Louisiana areas and around the Gulf of Mexico and. Taos has won a vast array of contracts in Mexican Oil auction. With its professional employees, Talos hopes to improve on their drilling techniques through their expertise and extensive research being done.

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