History Behind SVB
Silicon Valley Bank was co-founded in 1983 by Bill Biggerstaff and Robert Medearis. Both came from a background in commercial banking from Bank of America, they focused on the capital needs of startups to succeeded. The bank launched as a subsidiary of Silicon Valley Bancshares, now known as SVB Financial Group, and aligned them selfs with the venture capital community to provide support for small businesses. What separated SVB from the other banks was their ability to understand that startup companies generally lacked revenue which inhibited the ability to pay back loans. However, the bank . . .