If you need someone to help you think through your strategy over the coming days in a calm, non-reactive manner, reach out to me or your favorite ArentFox Schiff VC/Emerging Business attorney. For most affected emerging businesses, this means going to investors (likely existing investors) for bridge financing. It's a matter of business survival to secure emergency funds so that employees and critical vendors are timely paid. Amounts in excess of the insured limit ($250K) will follow later but there's no consensus yet on how much will be obtained and when it will be available. The FDIC may help starting on Monday if you have sufficient insured deposits. This unnecessarily increases the anxiety of business owners that are already in triage mode.įor most early-stage companies, the most important task over the coming days will be making payroll and paying other critical vendors. There is a lot of noise and incomplete information about the rapidly evolving SVB situation.
0 Comments
Leave a Reply. |