• May. 27, 2017, 6:09 pm

ILPA unveils transparency tool

Three of America’s largest online small business lending platforms have joined with the Association of Enterprise Opportunity to produce a tool which will help small business loan seekers better compare financing options.

smart-box-logo

Collectively known as the Innovative Lending Platform Association (ILPA), Kabbage, OnDeck and CAN Capital initiated the SMART Box, which was developed to provide common wording and standardized pricing disclosure. It includes a table of pricing comparison tools and explanation, including the total cost of capital and annualized percentage rate.

SMART Box debuted after months of discussions with platforms, policymakers, advocates, small business owners and not-for-profit organizations.

 

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