Startups scramble to meet up with payroll, fork out bills following SVB’s swift collapse

Startups scramble to meet up with payroll, fork out bills following SVB’s swift collapse


Key Points
  • Tech firms that held deposits at SVB are thinking when they’re going to be capable to pay back workers and their charges immediately after the bank’s collapsed.
  • The FDIC was named the receiver of Silicon Valley Lender on Friday following the bank was closed by California regulators.
  • “The variety one particular concern is, ‘How do you make payroll in the next few times?'” claimed Ryan Gilbert, founder of undertaking organization Launchpad Cash.



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