ThermoCredit Achieves 90 Percent Reduction in Paper Usage in 2021

ThermoCredit announced significant strides in its quest to become 100 percent paper free.

Following the utilization of new technology and security programs, ThermoCredit has reduced its internal paper consumption by 90 percent. 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 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,” saids 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 percent 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 the rapid access to client information, which is key when clients require additional funding. More than 70 percent of ThermoCredit’s clients request and are provided additional funding within the first 24 months of 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 Block at 504-975-8599 or visit to schedule a complimentary consultation.