Climb Financing

Climb is a financing solution designed for education and career-focused sellers on FanBasis. It allows sellers to offer flexible, long-term payment plans to students while receiving a risk-adjusted portion of tuition upfront.

Students can finance up to $42,750 in tuition, with repayment terms extending up to 5 years, depending on credit qualification and program type.

Eligibility

Customers:

• Must be based in the United States.

• Must meet Climb’s credit and underwriting standards (minimum credit score of 600+).

• May apply with a co-borrower to strengthen credit and income eligibility.

• Full tuition is financed — once approved, the student is considered fully paid to the seller.

Sellers:

• Must apply to become a Climb sub-merchant via the Climb Application Form.

• Required to provide:

  • Basic business information

  • Three most recent business bank statements

  • Offer details for each program (pricing, duration, delivery type, etc.)

• Once approved, sellers can begin offering Climb financing directly through FanBasis.

Payout Structure

Climb provides risk-adjusted, one-time funding to sub-merchants. This means sellers receive a percentage of the tuition amount upfront, based on the borrower’s credit tier.
The funding is non-recourse, meaning sellers are not responsible for repayment if a student defaults.

Loan & Repayment Details

• Loan Amounts: Up to $42,750 financed per student.

• Repayment Terms: Up to 5 years (FanBasis sellers may limit terms per program).

• Interest: Between 8–25%, depending on borrower credit and product type.

• Payment Start Date: Students begin repayment 30–45 days after loan signing.

• Funding Schedule: FanBasis receives Climb payouts twice per month. Feel free to stay updated with their funding calendar schedule.

Features

• Soft Credit Pulls: Initial applications use a soft inquiry that doesn’t affect credit; a hard pull only occurs when the student accepts the loan offer.

• Non-Recourse Funding: Sellers receive guaranteed, risk-adjusted payouts; Climb assumes all repayment risk.

• Plaid Integration: Borrowers connect their bank accounts securely via Plaid for instant verification and ACH setup.

• Real-Time Performance Portal: FanBasis and Climb both have access to live performance monitoring and reporting.

• 0% Interest Option: Offered to high-credit borrowers in select brackets.

Seller Application Process

1. Apply for Approval
   Complete the Climb Sub-Merchant Application Form with your business and program details.

2. Climb Review
   Climb’s underwriting team reviews your submission. In most cases, they approve or decline without requesting additional documents.

3. Launch & Funding
   Once approved, you can begin offering Climb financing through FanBasis. Payouts will be issued according to student approvals and funding cycles.

Understanding Climb Transaction Statuses

When a buyer chooses Climb at checkout, you’ll see the transaction move through three statuses inside your FanBasis Transactions page:

1. Pending

This means the buyer initiated the loan and the transaction went through on our end, but Climb still needs the buyer to confirm a detail in their email (usually identity or income verification).
Nothing for you to do here — the buyer just needs to complete their step.

2. Active

Once the buyer completes their confirmation, the loan becomes officially active.
At this stage, Climb has approved the loan and is preparing to fund it.

3. Succeeded

After the loan is fully funded, the status updates to Succeeded.
This is when the payout timeline starts.

Use Case Notes

• Ideal for career-transformative education programs (tech, coaching, trades, etc.).

• Enables larger ticket programs to become accessible to students through long-term financing.

• Integrates seamlessly into the FanBasis ecosystem for a unified checkout and reporting experience.