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Silicon Valley Bank was shut down by regulators on Friday, March 10, in the largest bank failure since 2008. It appears that asset-liability mismatch was behind the bank’s problems.
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It’s well known that the shutdown of Silicon Valley Bank was the largest US bank failure since the 2008 financial crisis. What is less talked about is the disproportional impact this has on women founders and founders of color, who have historically been underbanked.
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Talk with debtors, creditors, suppliers, and the bank. During a crisis, people have a heightened need for good, honest communication that gives them information, guidance, helps them adjust and cope emotionally.” Be honest and transparent. That doesn’t mean spilling your guts. Protect Your Cash. Eliminate all unnecessary expenses.
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