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Los Angeles Times
Los Angeles Times
Business
Andrea Chang, Jaimie Ding , Ronald D. White

In wake of SVB collapse, California business owners scramble to contain fallout

Locked out of her three accounts with failed Silicon Valley Bank, cookbook author Anna Vocino spent the weekend in a state of high anxiety, unsure about the future of her sauces and spices company.

“I spent most of Friday afternoon writing all of our creditors and saying, ‘Hey, I know that we owe you money now, but hopefully everything will work out over the weekend,’” she said. “If it doesn’t, please have mercy on us.”

First thing Monday morning, Vocino was able to successfully log into the Silicon Valley Bank website and begin the process of closing her accounts. She’s moving her money to City National Bank.

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