ThermoCredit Achieves 90% Reduction in Paper Usage in 2021
Advances in technology and security have been utilized by ThermoCredit to
garner recognition in the financial services industry as a “green” company.
NEW ORLEANS, LA, 1/11/2022 — ThermoCredit announces significant strides in
its quest to become 100% paper-free. Following the utilization of new technology
and security programs, ThermoCredit has reduced its internal paper consumption
by 90%. The introduction of electronic signatures and digitized documentation
from clients will lead to significant cost savings over the years, but more
importantly, it will yield considerably less shredding waste.
“The financial services industry has been notorious for decades for its’ paper
consumption and have become some of the biggest clients in the shredding industry.
Shredded paper is generally recycled, but if we can avoid the consumption of paper
and toner at the onset, we are doing our part to help the environment,” says Seth
Block, Executive Vice President of ThermoCredit.
“Our investment in next-generation technologies continues to support the economy,
but now we can do business with our clients globally with a couple of clicks. 20
years ago, it would have been science fiction, but these new technologies enable
ThermoCredit to shave up to 30% of our approval time because we’re not waiting
on records to be delivered by snail mail or tracking overnight envelopes. When you
are waiting on funding, time matters.”
ThermoCredit’s electronic signatures for signing documents and contracts allow
legally binding transactions to be authorized from anywhere at any time, without
delay. An additional benefit is rapid access to client information, which is key
when clients require additional funding. More than 70% of ThermoCredit’s clients
request and are provided additional funding within the first 24 months of the contract.
For more information about funding options with ThermoCredit or how
ThermoCredit can aid your business with M&A, business planning, recapitalization,
and SBA loans, contact Seth Block at 504-975-8599 or visit www.thermocredit.com
to schedule a complimentary consultation.