Los Angeles, California, Oct. 28, 2020 (NEWSWIRE) -- ATIF Holdings Limited (Nasdaq: ATIF, the “Company” or “ATIF”), a company providing business consulting and multimedia services in Asia, today announced the Company entered into a consulting service agreement (the “Agreement”), dated Oct 23, 2020, to serve as a business advisor for Lendmerit Inc.(“Lendmerit”), a leading California-based financial lender providing integrated loan services nationwide. The Agreement was signed in anticipation of Lendmerit to enter into the U.S. capital market.
Pursuant to the Agreement, ATIF agreed to provide Lendmerit with services including business consulting such as business planning and strategies development, capital market advisory for fund raising, and investor and public relations services. As consideration, Lendmerit agreed to pay the Company a fixed consulting fee of US$1 million which will be paid in installments subject to certain conditions.
Mr. Pishan Chi, Chief Executive Officer of the Company, commented, “We are proud that we have signed service agreements with Lendmerit, McSen Realty Corp. and Promise Logistics Corp. respectively, within a week. We are diversifying our services following the recent wave of Chinese companies going public in the U.S. We look forward to seeing our clients achieving great progress and strong growth in 2021 and beyond, as they access to U.S. capital market, which we believe will drive their business growth. Lendmerit has a promising future because Lendmerit is one of the first batch of financial institutions to start Chinese loan business, and has built up a strong network and prestige. We are honored to serve as Lendmerit’s financial advisor to assist Lendmerit with its growth strategies of up-listing its securities to the U.S. exchanges.”
About Lendmerit Inc.
Lendmerit Inc. was founded in April 2015 and is recognized as a California-based financial lender who holds the financial lending license to offer simple process and fast funding solution to qualified clients. The main business of Lendmerit Inc. includes unsecured loans for international students, personal credit/mortgage loans, and business emergency loans. After five-year development, Lendmerit Inc.'s has provided solutions for tens of thousands of residents and international students throughout the United States. In 2018, Lendmerit Inc. launched a financial services platform Finway to provide unsecured credit loan services, targeting high-consumption international students with middle and high-end backgrounds. Moreover, Lendmerit Inc. also helps international students establish their credit history through credit loans. Up to now, Lendmerit Inc. has provided services for over 1,000 international students.