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> Was there something particularly incredible about SVB that led so many businesses to use it, and use it solely? Not sure why startups used it solely, but I c
by TuringNYC 4y ago
> Was there something particularly incredible about SVB that led so many businesses to use it, and use it solely?
Not sure why startups used it solely, but I can see why startups used SVB. One great reason is that they provided lines of credit to startups and "got it", understanding the typical business setup and risks of a startup and was able to underwrite the LoC.
I used Chase bank for my startup and they would have chased me out with a pitchfork if I even inquired about a Line of Credit, even if it was a pull-forward of predicable SaaS revenue.