Emergency bridge loan for SVB customers.
Brex announced an emergency bridge loan for qualified SVB customers to help minimize the impact of recent events on operational spend. Learn more below.
Brex announced an emergency bridge loan program for qualified 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 — and so we have discontinued this loan program at this time.
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 offering. 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 how Brex business accounts reduce your exposure to any single bank here.