Closure of Silicon Valley Bank a blow to Seattle startup community

Seattle-area tech startups are scrambling to assess the damage after Silicon Valley Bank, a fabled California bank with many Seattle-area tech connections, was shuttered Friday by regulators. Some local startups reported being locked out of their SVB accounts, raising questions about their ability to pay bills or meet payroll, industry insiders said. “It’s going to be rough for a few weeks to a few months” for startups that had their operating funds deposited at SVB, said Dave Parker, a veteran Seattle-area founder and investor currently serving as board chair for...