Sunday, March 26, 2023

Companies scramble to meet payroll, pay bills after SVB’s swift failure

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  • Tech companies that held deposits at SVB are wondering when they’re going to be able to pay employees and their bills after the bank’s collapsed.
  • The FDIC was named the receiver of Silicon Valley Bank on Friday after the bank was closed by California regulators.
  • “The number one question is, ‘How do you make payroll in the next couple days?'” said Ryan Gilbert, founder of venture firm Launchpad Capital.

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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: CNBC


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