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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