Description of Lili - Small Business Finances

Lili is a business finance platform that enables small businesses to manage all aspects of their finances in one place. With business banking, smart bookkeeping, unlimited invoices & payments, and tax preparation tools–you’ll always know where your business stands.


BUSINESS BANKING

- Business Checking Account
- Visa® Business debit card*
- Mobile Check Deposit
- Fee-free ATM withdrawals at 38K locations
- Cash Deposit at 90k participating retailers
- Get paid up to 2 days early
- No minimum balance or deposit required
- No hidden fees
- Automatic Savings
- Cash Back Rewards**
- Fee-free Overdraft up to $200**
- Savings Account with 4.15% APY****


ACCOUNTING SOFTWARE**

- Expense management tools and reports
- Income & expense insights***
- Attach receipts to expenses with a quick photo from your phone
- On-demand reporting including profit & loss and cash flow statements***


TAX PREPARATION**

- Automatic labeling of transactions into tax categories
- Write-off tracker
- Automated tax savings
- Pre-filled business tax forms (including Forms 1065, 1120, and Schedule C)***


INVOICING SOFTWARE***

- Create and send customized invoices
- Accept all payment methods
- Track unpaid invoices and send payment reminders


SUPPORT FOR YOUR BUSINESS

- Lili Academy: Videos and guides that cover all aspects of running a small business
- Free tools, downloadable resources, long-form guides and blog articles
- Discounts on relevant tools from our partners
- Curated newsletters and business-related content


ACCOUNT SECURITY YOU CAN RELY ON

All Lili accounts are insured up to $250,000 through our partner bank Choice Financial Group, Member FDIC. Lili business accounts and debit cards are protected by industry-leading encryption software and security protocols, including fraud monitoring and multi-factor authentication. Lili customers receive transaction alerts in real-time, can access their account from mobile or desktop anytime and instantly freeze their card if needed.


LEGAL DISCLOSURES

Lili is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC

*Issued by Choice Financial Group, Member FDIC, pursuant to a license from Visa.

**Available to Lili Pro, Lili Smart, and Lili Premium account holders only, applicable monthly account fee applies.

***Available to Lili Smart and Lili Premium account holders only, applicable monthly account fee applies.

****The Annual Percentage Yield (“APY”) for the Lili Savings Account is variable and may change at any time. The disclosed APY is effective as of September 1, 2023. Must have at least $0.01 in savings to earn interest. The APY applies to balances of up to and including $100,000. Any portions of a balance over $100,000 will not earn interest or have a yield. Available to Lili Pro, Lili Smart, and Lili Premium account holders only.