What if the right bank could make your startup dreams come true?
Many startups struggle with obtaining funding, and a large part of that is about finding the right bank. However, the struggle is over: Silicon Valley Bank is what your startup has been looking for all along!
Wondering what this bank can do for you? Keep reading to learn about who they are and what benefits they offer to startups!
Who Is Silicon Valley Bank?
We’ve put together a solid list of reasons why SVB is great for your startup needs. First, though, it’s important to establish who Silicon Valley Bank really is.
This bank was established back in 1983. While the focus has shifted over time, their latest direction is crystal clear: fueling startup innovations in a number of very specific industry sectors.
SVB has a well-earned reputation for helping startups find funding. How many startups, you ask? At least count, Silicon Valley Bank had helped over 30,000 startups pursue their dreams!
With West Coat sensibilities and a worldwide presence, this bank is here to turn your innovative startup dream into a reality.
Now that you know more about who SVB is, here are a few of the reasons why they may be a perfect fit for your next startup enterprise.
1. Familiar With Startups
There are plenty of banks that help fund startups. However, most of those banks put other endeavors first and fund startups as more of an afterthought.
With SVB, you get a bank that is very familiar with startups. This comes from helping over 30,000 businesses get their start!
Because of that familiarity, you get more than a bank willing to sign a loan. You get an entire organization that is familiar with networking and other needs a new business will have.
Can you find funding elsewhere? Sure. But why not seek funding from a bank that can anticipate your specific needs based on extensive experience?
2. Industry-Specific
Most banks see their clients as just another customer. They simply don’t put forth the effort to understand and network with highly-specific business industries in an attempt to garner as many clients as possible.
Silicon Valley Bank is not like that. They actually focus on a handful of innovative and growing sectors. And that allows the bank to offer customized service to innovators trying to enter those fields.
SVB caters to industries such as hardware, infrastructure, software, internet, life science, and healthcare. They also work with industries such as wine, energy, equity, venture capital, and resource innovation.
3. Risky Business
How do most lenders evaluate potential startups? To them, this is all a numbers game: they evaluate how risky an idea seems and determine whether they wish to take that risk. In most cases, lenders are likelier to favor the safest clients instead of the most innovative.
SVB does things very differently. They aren’t bogged down by simple risk calculations. Rather, they ask the same question that all great entrepreneurs ask: “will this idea change the world?”
That’s a large part of how the bank got its startup-friendly reputation. They are willing to fund the best ideas and not simply the safest ones.
4. User-Friendly Site
What do you want from a great lender? Things like competitive networking and superior customer service are great for really critical moments. For day-to-day business, you also want a reliable website.
Fortunately, SVB’s website is both easy and intuitive. Whether at home or on the go, you can initiate a number of financial transactions at the touch of a button.
This includes everything from checking your balance and transferring money to wiring funds and engaging with the Foreign Exchange. This all adds up to a very user-friendly website that can save you plenty of time.
And entrepreneurs understand that there’s a lot of truth in the old cliche: your time really is your money!
5. Investor Relationships
Most lenders don’t have to work too hard to attract clients. They simply wait for you to roll up, hat in hand, and ask for the money you need.
Silicon Valley Bank, though, does things a different way. Long ago, they established a reputation for seeking out investors and forming relationships that led to innovative startups. And SVB offerings include venture debt, which allows them to fund even more exciting business ideas than the average bank.
At the end of the day, working with a lender is like working with anyone else on a passion project. Why trust someone who is only in this for a payday when you can work with someone that helps innovative enterprises prosper and grow?
6. Worldwide Presence
The “Silicon Valley” part of their name certainly evokes the West Coast. But would you believe that SVB has a robust presence all around the world?
You can find SVB branches from coast to coast in the United States. And around the world, offices are located in Germany, Ireland, England, China, and more.
While your particular startup is likely to start small, chances are that you have major plans for expansion if you are successful early on. Why not work with a bank that already has a worldwide presence and reputation?
It’s important to work with those whose dreams are just as big as your own!
7. Ahead of the Pack
Banks make their money by betting on the future. And because the technology boom shows no signs of slowing down, more and more banks are starting to fund tech ventures and other innovative startups.
While it’s good to see other lenders finally discover the writing on the wall, SVB has been in business for decades. And because of that, this bank has built a solid network of entrepreneurs, analysis, and financial gurus.
The blunt truth is that while SVB has a growing number of competitors, those competitors have no way to catch up to this momentum. And entrepreneurs have learned that the best way to propel themselves into the future is to grab onto this SVB ride and see where they end up!
Getting It Started
Now you know what Silicon Valley Bank can do for your startup. But do you know how to get started right away?
SVB is here to bring enterprising innovations to life. To see how to get things started, contact the bank today!