REGION:

COVID-19 Response & Community Support

SVB remains focussed on serving the needs of innovation companies and investors of all sizes and is dedicated to supporting the ecosystem. We are committed to doing everything we can to help our clients overcome challenges and concerns they may be facing during this time.
Relief
 

SVB Global Debt Relief

SVB's first relief initiative is providing certain venture debt borrowers with loans of $10 million or less (or local currency equivalent) an opportunity to defer their principal payments for a period of six months. Clients that qualify for this program were notified directly. This SVB program is expected to reach up to $600 million in aggregate payment relief across our global client base. Additional relief programs and initiatives that are in development for SVB clients will be communicated directly to applicable clients.

Government Debt Relief

SVB is in the process of applying to become an accredited lender under the Coronavirus Business Interruptions Loan Scheme (CBILS) and we’ll have more information about this in the coming weeks.

SVB is undertaking similar activities in other markets including the Paycheck Protection Program (PPP) in the US.

wfh 720x500
Product and Service Support
 
We continue to serve and support our clients through challenging times through enhancements to our products and services.
 
Additional interest on Corporate Deposit Accounts
 
Lower threshold to qualify for higher interest rates
 
Increased interest rates on shorter Term Deposits
 
Reduced costs on unarranged overdrafts
 
No fees for account maintenance
 
New discounts and offers through partners
Give
 

SVB has committed $5.5 million to support local, regional and global activities focused on three areas: health security, food security and shelter, and small business owner relief. The COVID-19 Global Impact & Innovation Fund, in partnership with Founders Pledge, was established to help stop the spread of the virus, support a robust medical response and mitigate the social cost by providing relief to affected families. SVB is making an initial $1 million investment to fund this critical work, and we invite you to join us. Donate here

In the UK, we’re sponsoring Meals for the NHS, a not-for-profit organisation that delivers meals directly to front line NHS staff working in COVID-19 Wards during the evenings when canteens are closed. This keeps nurses and doctors energised and well-fed whilst they go about saving lives. In under 4 weeks, they have served +80,000 meals across 75 hospitals in 21 towns and cities across the UK - all powered through startup technology tools. For every £10,000 they raise, they can feed one hospital for 1 month. You can help support them by visiting mealsforthenhs.com.

We continue to support our main Access to Innovation partner, Career Ready, a not-for-profit organisation focused on helping young people from disadvantaged backgrounds fulfil their potential through experience and understanding of the working world. For more information visit https://careerready.org.uk/.

Resources
 
We have collated the following resources:
 
£1.25bn support package that has been designed to help and protect high growth technology, life sciences and R&D businesses. Learn more
 
Register for SVB-hosted webinars to hear insights from SVBers and our partners. Replays of recent webinars are also available. Learn more
 
Fraud often increases during turbulent times. SVB offers preventative tools, services and guidance to help you and your company mitigate your risk of fraud.  Learn more
Connect
 

For more information contact:

SVB office