How does the Brex emergency loan work?

On March 10, 2023, Brex announced an emergency bridge loan program for qualified Silicon Valley Bank (SVB) customers to help minimize the impact of recent events on operational spend. However, with the good news from the Federal Reserve Board that SVB customers now have access to 100% of their funds as of March 13, 2023, there is no longer a gap to help cover for these customers — so we have now discontinued this loan program.

For customers who may be looking for a new account that offers stability and safety, we invite you to learn more about Brex’s business account. This account reduces your exposure to any single bank by allowing you to diversify your balance across up to nine partner banks (including JPMorgan Chase) and/or a money market fund that must hold at least 99.5% of its money in cash or securities, backed by the US government. 100% of funds are always available for withdrawal, and Brex never uses your deposits for lending purposes.

Learn more about Brex business accounts here.

You can apply here to fast-track your business account application. We'll review your application as soon as possible. Please contact us if we can help in any way.

Was this article helpful?


Still can't find what you're looking for?

Chat with us