#USA #New York #Lili #Lili Connect #Global Entrepreneurs

Lili Connect Expands to Global Entrepreneurs

Lili, a prominent financial platform tailored for small business owners, has announced a significant expansion with the launch of Lili Connect for eligible international entrepreneurs. This innovative service allows those not residing in the U.S. to efficiently handle the financial aspects of their U.S.-based businesses, marking a pivotal moment in Lili's global strategy.

The ability for entrepreneurs outside the U.S. to establish a banking relationship is critical. U.S. small businesses owned by non-residents provide substantial economic contributions, accounting for over five million jobs and contributing more than $1 trillion to the national economy. However, many of these international entrepreneurs face tough challenges when attempting to open bank accounts due to the lack of a Social Security number, high fees on foreign transactions, and limited access to credit and services.

Through Lili Connect, aspiring business owners located outside of the U.S. can now open a business checking account easily and quickly. This service operates in collaboration with a network of over a dozen corporate formation partners, simplifying the account setup process significantly. Entrepreneurs can manage their U.S. business finances from any corner of the globe, utilizing banking, accounting, and tax preparation tools all integrated within one platform.

With Lili's international wire payment services offered at competitive rates, users can also benefit from additional features such as online bill pay, invoicing, and efficient fund transfers to employees and vendors. Entrepreneurs will receive a Lili Visa® Debit Card without incurring foreign exchange fees, further aiding in effective financial management.

Lilac Bar David, co-founder and CEO of Lili, emphasizes that the geographical location of a small business owner shouldn't limit their operational capabilities in running a U.S. business. The expansion through Lili Connect offers international entrepreneurs a clearer view of their U.S. business finances, empowering them to compete on a global scale.

This capacity is part of a broader strategy by Lili to extend its capabilities for small business owners by integrating tools that enable easier financial management. The launch is timely, allowing a broader range of businesses to benefit from the financial services Lili provides, adding to its existing features that facilitate dedicated online banking accounts for its partners’ customers.

Additionally, Lili is not stopping here—it has recently announced plans to expand its international wire payment offerings to more than two dozen countries, alongside the new features for non-resident entrepreneurs, enhancing its capabilities to serve a wider array of business owners globally.

Founded in 2019 by industry veterans Lilac Bar David and Liran Zelkha, Lili focuses on meeting the specific needs of small businesses by merging advanced banking solutions with built-in accounting and tax tools. Supported by various venture capital groups, Lili maintains its headquarters in New York and serves clients in all 50 states, with registered banking services provided by Sunrise Banks, N.A., a member of the FDIC.

The enhancements offered by Lili Connect are poised to transform how entrepreneurs globally manage their U.S.-based operations, showcasing Lili's commitment to innovation and client service. For more information, visit lili.co.