Brex to Offer Emergency Credit Line to Silicon Valley Bank Customers to Meet Operational Spending Needs

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Mar 10, 2023, 17:33 ET

SAN FRANCISCO, March 10, 2023 /PRNewswire/ -- Brex is offering an emergency bridge credit line to startup customers to support payroll and other operational spend needs. Startups impacted by today's Silicon Valley Bank news may not have access to the funds necessary for short-term operational spend. Working quickly with third-party capital providers and Brex Asset Management, Brex aims to have emergency funds available to startups early next week.

Startups with funds at Silicon Valley Bank can visit this link to apply for an emergency credit line. Brex will review accounts as quickly as possible, and release emergency funds into customers' Brex Business accounts upon approval.

Brex Business Accounts have been designed to provide the least amount of exposure to any individual bank, while maintaining the benefits of money movement and money storage. Additional information on the structure of Brex accounts can be found here.

About Brex

Brex empowers the next generation of businesses with integrated corporate cards and spend management software. We make it easy for our customers to manage every aspect of spending and empower their employees to make better financial decisions from anywhere they live or work. Brex proudly serves tens of thousands of growing businesses, from early-stage startups to enterprise leaders.

SOURCE Brex