SF Chronicle: Silicon Valley Bank collapse is causing a financial crisis for California’s wine industry

By Published On: March 11, 2023

Silicon Valley Bank was closed Friday by the California Department of Financial Protection and Innovation after a bank run by its venture capital customers. For nearly 30 years, the bank has been the go-to financial institution for the California wine industry. But now, an estimated thousands of wineries are locked out of their Silicon Valley Bank accounts — and they don’t know if, or when, they’ll get access to their money.   Read more by the San Francisco Chronicle. 

About the Author: Craftwine.org

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