At OnDeck, we make small business a big deal. Our passion for Main Street and the cutting-edge technology we use to evaluate businesses based on their actual performance, not solely business owners' personal credit scores, make it possible for us to responsibly expand access to credit. This allows businesses to spend their time where it provides the most benefit - on their customers, not looking for a small business loan. Since 2007, we've issued billions in capital. As the largest online small business lender in the U.S. serving more than 700 different industries, we have provided our customers with a term loan or line of credit to help them build a growing and thriving enterprise.
We believe in business loan transparency and want you to have the right information to make financing decisions for your business. Lenders express pricing in different ways, which may sometimes be difficult to compare loans. That's why OnDeck led a multi-lender initiative to establish the Innovative Lending Platform Association (ILPA). The ILPA launched a first-of-its-kind capital comparison tool called the Straightforward Metrics Around Rate and Total Cost - or the "SMART Box." In plain English and an easy-to-read format, OnDeck shows you key terms you need to evaluate potential loan offers. The SMART Box is a disclosure form that provides a comprehensive, standardized breakdown of your cost of capital.