So, you’ve got an innovative business idea and want to set up shop in the U.S., but finding financing across borders can be tricky. As a non-resident entrepreneur, traditional banks often won’t give you the time of day, let alone approve your loan application. But now there’s a solution. Lendio has partnered with Yondaa, Inc. to offer you fast, flexible funding to turn your dreams into a reality.
Overview of Yondaa’s Business Formation Services
If you’re a non-resident entrepreneur looking to start or expand your U.S. business, Yondaa has you covered. They offer affordable company formation and registered agent services so you can establish your business legally in any state.
Once your business is up and running, you’ll likely need access to capital to really get things going. That’s where Yondaa’s new partnership with Lendio comes in. Lendio is a leading marketplace for small business loans, providing access to financing from multiple lenders. By teaming up, Yondaa clients now have a streamlined way to apply for small business loans and lines of credit through Lendio’s network.
To qualify for a loan with Lendio, you’ll need a business plan, financial projections, tax returns, bank statements, and a good credit score. The specific requirements will vary depending on the lender and loan type. The good news is, Lendio works with over 75 lenders so they can match you with options that suit your unique situation.
Loans through Lendio typically fund fast, often within 3 to 5 business days of approval. They offer fixed-rate installment loans, lines of credit, merchant cash advances, and invoice financing. Whether you need $25,000 or $500,000, Lendio aims to provide affordable solutions for every stage of business. Compared to traditional bank loans, the application process is more streamlined, and you can get pre-approved in minutes.
For non-resident entrepreneurs, finding business financing in the U.S. can be an uphill battle. By partnering with Lendio, Yondaa is making that climb a little easier. Their services already help you establish a legal business presence and now they’re helping fuel your venture’s growth and success. It’s a winning combination for taking your business to the next level.
Challenges for Non-Resident Business Owners Seeking Financing
As a non-resident business owner, securing financing and credit in the U.S. can be tricky. You likely don’t have an established credit history stateside, and traditional banks typically want to see longevity and collateral. This is where Lendio comes in.
Lendio is an online lending marketplace that connects small businesses with a network of lenders offering financing options like business loans, lines of credit, merchant cash advances, and invoice factoring. The requirements are more flexible than a standard bank, focusing on your revenue and time in business rather than your credit score or collateral.
To qualify for a Lendio loan, your business must generate at least $100,000 in annual revenue, have been operating for at least 6-12 months, and be based in the U.S. (which you’ve got covered thanks to Yondaa!). As a Yondaa client, you can use your U.S. company documents like bank statements, tax returns, and financials to apply for one of Lendio’s small business loans.
The Perks of Lendio
Lendio offers a few advantages over traditional financing:
Fast online applications that take just 10-15 minutes. No piles of paperwork!
Loans from $5,000 to $500,000 with terms from 2-5 years.
A higher chance of approval thanks to alternative data and a large network of lenders.
Pre-approval in 1-2 days so you know your options before funding in as little as 3 days.
Fixed rates as low as 7%, so payments don’t change.
Between Lendio’s quick and convenient process and Yondaa’s ability to provide the necessary documentation, non-resident business owners have a viable path to the financing they need. Now the only question is what will you do with the cash? The opportunities are endless!
How Lendio Business Loans Work and Requirements
As a Yondaa client, you now have access to business financing through Lendio’s network of lenders. Lendio offers loans, lines of credit, and merchant cash advances to help growing businesses. To qualify for financing through Lendio, you’ll need to meet some basic requirements.
Requirements
The main requirements are:
Operating for at least 6-12 months. Lendio lenders prefer to see you have some experience running your business.
Annual revenue of at least $100,000. Some lenders may require more.
A personal credit score of 600 or higher. Your credit will be checked along with your business’s.
Ability to repay the loan. Lenders will evaluate your income, expenses, cash flow, and other debts to determine if you can afford the payments.
How Yondaa Clients Can Use the Funds
As a Yondaa client, you can use Lendio financing for:
Working capital like inventory, supplies, or payroll
Business expansion costs such as new equipment or real estate
Marketing and advertising to increase revenue
Refinancing high-interest debt to lower your payments
Why Lendio is Different
Traditional bank loans often require high credit scores, years of experience, and collateral. Lendio’s alternative lenders look at the overall health and potential of your business. They offer fast, convenient access to capital without requiring assets as collateral. Repayment terms are flexible, ranging from 3 months to 3-5 years. You can apply online in minutes and receive funding in as little as 1-3 business days.
With Lendio’s variety of loan options and Yondaa’s help setting up your U.S. business, you have more opportunities to build a thriving company. Yondaa provides the foundation so you can focus on growth. And with Lendio by your side, you have a trusted funding partner to fuel that growth whenever you need it.
The Benefits of Partnership for Yondaa Clients
As a Yondaa client, partnering with Lendio opens up exciting new opportunities for your business. Here are some of the main benefits you can gain:
Access to Financing
As an international business owner, securing funding and loans in the U.S. can be challenging. Lendio offers a wide range of business financing options like lines of credit, term loans, merchant cash advances, and more. By partnering with Lendio, Yondaa clients get access to these financing opportunities to help fund their business growth and expansion in America.
Streamlined Application Process
Applying for traditional bank loans is often complicated, requiring piles of paperwork and financial records. Lendio simplifies the application process using an online portal where you can apply for multiple business financing products at once. They evaluate your eligibility based on key business metrics to match you with funding options you have a good chance of qualifying for. This saves you valuable time and frustration.
Tailored Options
Lendio doesn’t take a one-size-fits-all approach to business funding. They recognize that every company has unique needs, financial situations, and goals. The financing options they provide are tailored to your specific business model, industry, time in business, and other factors. So you can find funding that suits your particular needs and circumstances.
Personalized Guidance
The financing process can be confusing, especially when there are so many options and providers to choose from. Lendio steps in to provide guidance and recommendations tailored to your business. Their financing experts evaluate your needs and eligibility to suggest suitable funding options, helping you make the choice that is right for your situation. They remain on hand to answer any questions and address concerns you may have along the way as well.
For Yondaa clients, a partnership with Lendio means gaining access to essential resources for establishing a successful business presence in the United States. Leveraging their financing opportunities and guidance can help take your company to the next level.
Next Steps for Getting Started With Business Formation and Financing
Now that you understand the services offered by Yondaa and the business financing options through Lendio, it’s time to take the next steps to get your U.S. company up and running.
Forming a business entity is the first crucial step. Yondaa can help you establish an LLC, corporation or nonprofit that best fits your needs. Their incorporation packages handle all the required paperwork to register your business and obtain necessary licenses and permits. As a non-resident, using a registered agent service is mandatory in each state. Yondaa provides registered agents to act as your business’ official point of contact.
With your new entity formed, you’ll want to open a business bank account to keep funds separate from your personal accounts. Yondaa partners with major U.S. banks to provide business bank accounts for non-resident companies. They can also notarize your identification documents to satisfy the bank’s know-your-customer requirements.
Now it’s time to consider financing options to grow your business. As a non-resident business owner, securing traditional bank loans or lines of credit can be challenging. This is where Lendio comes in. Lendio offers business loans, lines of credit and merchant cash advances with more lenient eligibility criteria than most banks. Their loan experts evaluate each business on a case-by-case basis. They consider factors like business potential, experience, and financial projections rather than just credit score alone.
Between Yondaa’s business formation and support services and Lendio’s alternative financing solutions, non-resident entrepreneurs have the resources they need to start and scale a U.S. company. Yondaa handles the logistical challenges of establishing and maintaining an American business entity as a foreign owner. And Lendio provides access to funding that might otherwise be out of reach. By partnering together, these companies open up opportunities for ambitious business owners around the globe.
The path to entrepreneurship in a foreign country is full of obstacles, but with the right partners the rewards can be well worth the effort. Let Yondaa and Lendio fuel your U.S. business dreams. The possibilities for success are endless!
Conclusion
So there you have it. As a non-resident business owner, you now have an opportunity to access business financing in the U.S. through a partnership between Yondaa and Lendio. Instead of jumping through hoops with traditional banks and lenders, you can work with a company that understands your unique needs.
Apply for loans with confidence knowing that Lendio caters to businesses like yours. With financing in place, you’ll be ready to take your company to the next level. Leverage the business services from Yondaa to hit the ground running. No more roadblocks – just open roads ahead for your U.S. company. The future is bright!
