SMART Box transparency will benefit small businesses looking to borrow

By OnDeck•16:20 PM, 30 Jan 2019•1 minute read

Promoted by OnDeck.

Small Business owners can now make smarter, more informed decisions about financing with the help of SMART Box.

The Innovative Lending Platform Association (ILPA), of which OnDeck was a founding member, developed the SMART Box™initiative in the US.

Since then, Noah Breslow, CEO of On Deck Capital, Inc. (OnDeck), has championed this new disclosure tool which brings greater transparency to the small business lending industry and the lenders involved, allowing for direct comparison between different financing options.

OnDeck in Australia is a founding signatory of the AFIA Online Small Business Lenders Code of Lending Practice, and now, by leveraging the work of OnDeck in the US, they’ve been able to bring SMART Box to the Australian market to benefit small businesses here too.

SMART Box helps brokers, and their clients, by allowing easy, straightforward

comparisons to be made between different lenders, on a range of different metrics including Total Repayment Amount, Total Cost of Credit and Annual Percentage Rate (APR).

So now, brokers will be able to offer their clients a transparent view of the market.

And small business owners can feel comfortable knowing they’re seeing the complete picture.

If you’d like to learn more about SMART Box, go to ondeck.com.au/smartbox

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