- Silicon Valley Bank has collapsed, leaving start-ups scrambling for emergency loans and to pay staff.
- Founders fear being held personally liable for unpaid wages under California law.
- Rippling is emailing customers to inform them that their payroll funds are under the control of the Federal Deposit Insurance Corporation.
- 507 Capital and Brex are offering emergency bridge credit.
- Natcap was lucky to miss the fallout as they had planned to deposit all capital with SVB.
SVB collapse leaves founders liable for unpaid wages
With executives on the hook for making payroll, start-ups are rushing to secure emergency loans
George Hammond
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