May 5, 2016 | The Business Journals

“Small businesses may soon be able to make smarter decisions about loans offered by online lenders.

That’s because the three largest online lenders — OnDeck, Kabbage and CAN Capital — plan to create a standardized tool that will enable small business to compare online loan products on an apples-to-apples basis. The Straightforward Metrics Around Rate and Total Cost Box, or SMART Box, will enable small businesses to compare fees, annual percentage rates and other costs for loans of the same duration.”

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