‘SMART Box will revolutionise transparency for small businesses’

CEO of On Deck Capital, Inc. (OnDeck), Noah Breslow, said the introduction of a new pricing disclosure tool, the SMART Box™, will give Australian small businesses an exceptional level of transparency and will empower those small businesses to make informed decisions about their financing options.

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).

As a founding member of the Innovative Lending Platform Association (ILPA), OnDeck has been integral to the development and adoption of the SMART Box and, by leveraging that work in Australia, they’ve been able to pass the benefits onto small businesses here.

Now brokers can draw on this information to offer their clients clear and concise

information about product costs and terms. Which means small business borrowers can feel confident knowing they’re getting the complete picture.

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

Written by OnDeck

Last Updated: 14 March 2022

Published: 06 February 2019