On Friday, Silicon Valley Bank, a prominent lender in the technology world, became the largest bank to fail since the 2008 financial crisis. The bank provided services to nearly half of the country's venture capital-backed technology and life-science companies and over 2,500 venture capital firms. The bank's failure was attributed to a combination of dwindling start-up funding and significant uninsured depositors who withdrew their money at the first sign of turbulence.
Being an entrepreneur was tough before the pandemic. Nearly two years in, it’s proven to be nearly impossible to access traditional forms of funding needed to sustain a business through this kind of cultural and economic turmoil. And, the numbers show just how tough it’s been.
Topics: Business|Invest, Loans, strategy
Why is it so hard to find cash when you know your idea is out of this world? It just is, and you’re not alone. Most small businesses struggle to access the funding and capital they need to scale and succeed. In fact, just during the pandemic, about 4 in 10 small business owners haven’t obtained any capital in the form of loans or lines or credit.
Topics: Business, Business - Early Stage, Loans
As a business owner, you likely understand that one of the biggest challenges of scaling your company isn’t just the inability to secure funding, it’s also the inability to access non-traditional sources of capital in the first place. Right? Absolutely. You know we’re right, and so do we, because we’ve been where you’ve been.
Topics: Business|Invest, Business - Mid Stage, Business - Late Stage, Loans, Corp Finance
