Lendio Announces Support for SMART Box Initiative

By Samantha Hurst

Small business lending platform Lendio announced on Wednesday it is set to join industry leaders as an early engagement participant in supporting the model small business lending disclosure called the SMART (Straightforward Metrics Around Rate and Total cost) Box, which was developed by members of the Innovative Lending Platform Association (ILPA).

According to Lendio, SMART Box is described as a voluntary initiative to promote transparency through standardized pricing comparison tools and explanations, including both various total dollar cost and annual percentage rate (APR) metrics to further empower a small business to assess and compare financing options.

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