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What business types are not supported by Lili?

We’re focused on serving registered U.S. businesses that operate in low‑risk, regulated‑friendly industries. This article explains which business types and industries we currently can’t support, and what to do if your business falls into a gray area.

Business entity types we don’t support

Right now, Lili does not support accounts for the following business entity types:

  • B‑Corporations
  • Nonprofit entities that are not recognized as 501(c)(3), such as certain 501(c)(4), 501(c)(6), or other tax‑exempt organizations focused on lobbying, member benefits, or industry promotion

If your organization is not a 501(c)(3) and falls into one of these categories, we’re not able to support it at this time.

If you are a 501(c)(3) nonprofit and meet our general eligibility requirements, you may be able to open a Lili account. Have your IRS determination letter and formation documents ready when you apply.

For a full list of entities we support, see: What business types are supported by Lili?

Business industries we don’t support

Separate from your legal entity type, certain industries and activities are not eligible for Lili due to regulatory and risk requirements. Lili is currently unable to support businesses whose primary activity involves:

  • Cryptocurrencies and virtual currency trading or exchanges
  • Money services (for example: check cashing, money transmission, currency exchange, or payment processing for third parties)
  • Gambling, betting, or online gaming for money or other items of value
  • Crowdfunding platforms or donation‑based fundraising platforms
  • Trusts or businesses set up primarily to hold assets in trust
  • Marijuana or cannabis, including related products or services, even where permitted by state law
  • Privately owned ATMs
  • Adult entertainment, including online or in‑person services
  • Firearms manufacturing or businesses primarily dealing in weapons

These restrictions help us comply with banking regulations and our partner banks’ requirements.

If you’re not sure whether you’re eligible

If your business or nonprofit doesn’t clearly match any of the restricted categories but you’re unsure, you can:

  • Review our eligibility: Check What business types are supported by Lili? and verify how your organization is classified in your IRS and formation documents.
  • Contact us: Reach out with a short description of what your organization does and how you receive funds, and our team will confirm whether Lili is a fit.

We regularly review our eligibility criteria and may update which industries and entity types we can support as regulations and our products evolve.

 

Lili is a financial technology company, not a bank. Banking services are provided by Sunrise Banks, N.A., Member FDIC. The Lili Visa® Debit Card is issued by Sunrise Banks, N.A., Member FDIC, pursuant to a license from Visa U.S.A., Inc. The Card may be used everywhere Visa debit cards are accepted. 

Wire Transfer services are provided by Column Bank N.A., Member FDIC. All wires are subject to acceptance criteria and risk-based review and may be rejected at the sole discretion of Column Bank N. A. or Lili App Inc.