Startups with untapped credit at Silicon Valley Bank might need to come to market sooner than expected. Read more.
The federal banking regulator, the Office of the Superintendent of Financial Institutions, took temporary control of Silicon Valley Bank Canada on the weekend after authorities in the United States and United Kingdom did so in their respective jurisdictions.
If the banks demand warrants as part of loan agreements, as has been common in past tough times for tech, or charge higher rates in a now less-competitive market, it would be costly for venture players and “really no different than taking equity,” Felesky said. Ruffolo said he expects SVB’s existing Canadian loan book to get snapped up because it contains strong companies.
Going forward, things are a little less clear, he said, and there are companies that aren’t going to be funded that otherwise might have been.because crap was getting funded,” he said. “This gives the venture debt lenders an opportunity to go, ‘Well, that was not a very smart idea, so forget about it, we’re not going to finance you at all.’”Article content
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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Canadian regulator takes control of Silicon Valley Bank's Canadian branchA Canadian regulator on Sunday said it was taking temporary control of Silicon Valley Bank’s Canadian branch, as the fallout from the collapsed U.S.…
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Canadian regulator takes control of Silicon Valley Bank's Canadian branchA Canadian banking regulator on Sunday said it was taking temporary control of Silicon Valley Bank’s unit in the country, as the fallout from the collapsed…
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Canadian start-ups face funding 'pressure cooker' in wake of SVB collapseStartups with untapped credit at Silicon Valley Bank might need to come to market sooner than expected. Read more.
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Canadian start-ups face funding 'pressure cooker' in wake of SVB collapseStartups with untapped credit at Silicon Valley Bank might need to come to market sooner than expected. Read more.
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