The company moved its business to SVB in 2021 and was turning a profit within two years, with tens of millions of dollars in its account with the bank, CEO Ashley Tyrner told CBS News. But when California regulators seized SVB on Friday, FarmboxRx lost access to "the eight figures" it...
SVB was one of the few banks willing to lend to smaller, high-risk technology firms. In addition, it was one of the only banks willing to work with variable–interest entity (VIE) structure companies. This offshore entity structure is used by Chinese companies seeking to raise foreign ...