Apparently SVB gave loans to startups with a condition that companies use SVB as... | Hacker News

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spacebanana7 on March 11, 2023 | parent | context | favorite | on: 30% of YC companies exposed through SVB can’t make...

Apparently SVB gave loans to startups with a condition that companies use SVB as an exclusive banking partner according to a billionaire on Twitter (unfortunately I’ve lost the tweet so can’t link)

raldi on March 11, 2023 [–]

Indeed: https://twitter.com/search?q=svb%20covenant

I guess if someone loans you money, they want to be able to keep an eye on any sudden moves you make with it.

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