Silicon Valley Bank's clients went to physical branches on Friday searching for answers as the bank rapidly collapsed.
Thousands of startups have long counted on SVB for everyday banking services, and the firm's sudden collapse raised imminent concerns about how clients would pay their bills and their employees.
In Santa Clara on Friday morning, SVB customers arrived frustrated and angry, many donning blank and tired faces.One of the men, who asked not to be named, told CNBC he'd been banking with SVB since 2018 and never expected to see this happen. He said most of his money was tied up in the bank. Eventually, the man let out a soft sob, apologizing as he excused himself.
“I’m trying to get a check!” one man said, knocking on the locked glass doors while making eye contact with someone working in the office. A representative came out periodically to answer clients' questions in whispering tones, declining to address the press.SVB clients knocked on the locked entrance doors of the Menlo Park office in hopes of getting the attention of a security guard or representative.
The men declined to provide their names, only telling CNBC that they were founders of separate small startups.
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