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You can apply for our emergency payroll financing program here.
Silicon Valley Bank has been an incredible partner to countless startups for decades, so it has been particularly difficult to see such a prominent and influential institution falter and to watch the ripple effect it has had across the space.
In light of these recent events, I recognize that many of you are understandably worried and wondering how your company, team members, and customers may be impacted. At Capchase, we don’t want to stand by and watch our community needlessly struggle or suffer.
Since the news of SVBs closing yesterday, we have been brainstorming ways we can support our community with the resources we have available. Last night, we made the decision to use our capital to offer emergency financing to companies who have lost access to their funds.
We have launched an emergency payroll financing program to ensure that companies affected by SVB can meet their payroll requirements next week. We are offering 20% to 30% of deposits with a 30-60 day short-term liquidity product. This program is currently live and is open to all tech companies who have their funds trapped at SVB.
We will begin deploying our capital as soon as we are able to. If you could benefit from this program, please apply through this landing page.
As always, we are here to help you and other founders you know during this uncertain time. Our team is on deck and working around the clock to answer any and all questions and to assist you in any way that we can. Please, if you have any questions at all, do not hesitate to reach out to me directly at miguel@capchase.com.
We understand this is a highly stressful situation for you and your company, and we are doing everything we can to help you. We are aiming to provide funding at rates as low as we can considering the risks, market uncertainty, and available pools of capital.
We are working through the weekend to bring a solution to as many people as possible, but at this time we cannot guarantee funding. We will update you as soon as we can.
