Unlike any other market, the value of education continues to grow. Unfortunately, so do tuition fees and student debt-to-income ratios.
A few years ago the founders of Climb Credit saw that more and more students were looking for an education that was worth the high tuition cost. They found that schools offering shorter-term, skills-based programs that get students jobs offer a higher return on student investment.
In 2014, Climb Credit launched as the first point-of-sale education finance company to partner directly with schools to provide financing options to all students. Of course where there’s lending, there’s also paperwork. Their initial loan application process was highly manual, required offline signatures, and depended on a print-sign-scan-fax workflow. About 50% of the time this process was further impacted by the requirement for co-signers.
After evaluating DocuSign, Climb Credit chose the HelloSign API to power their loan application and approval process. This gave them an easy-to-integrate digital signature solution that dramatically reduced student churn.
“Today, it takes us about two days, including the back and forth communication between our representatives and the student in terms of making a final decision. HelloSign has contributed significantly to making our loan finalization process three times faster.” Arjun Kannan, CTO
Read the full case study to learn how Climb Credit reduced loan approval time by 3X, increased 2017 revenue by 70%, and reduced operating costs with HelloSign.