In this episode, the Loan Wolves discuss the Silicon Valley Bank collapse and share their thoughts on the implications for business owners now and in the future. 

The recent bank run of Silicon Valley Bank (SVB) and Signature Bank has sparked concerns about the stability of the banking system and the importance of redundancy in financial relationships. Many large businesses were heavily - if not solely - reliant on SVB, leaving them vulnerable when SVB faced financial difficulties. The “bailout” prevented contagion and bank runs from spreading to other institutions, but it also emphasized the need for greater transparency and due diligence in financial relationships.

The situation highlights the importance of businesses having backup plans in case their primary banking relationship fails. Due diligence is also crucial in assessing the financial health of banking partners, including looking at financial ratios and identifying red flags that could indicate financial difficulties.

The bailout has created opportunities for smaller and midsize banking players in the fintech industry as businesses look for alternative banking relationships. However, some high-risk companies may struggle to find a bank willing to work with them. While the government's bailout of SVB and Signature Bank has provided reassurance to some, it's important to remember that this support is not unlimited.

The situation with SVB and Signature Bank highlights the need for transparency, due diligence, and redundancy in financial relationships. Businesses should be proactive in assessing the financial health of their banking partners and have a plan in place to deal with any financial difficulties that may arise. 

Welcome to The Loan Wolves!

Brought to you by the brands of Valmar Holdings, The Loan Wolves podcast is a series of engaging, informative, and entertaining conversations about all things online lending. A diverse variety of experts and operators will share best practices, bad mistakes, and big opportunities, touching every aspect of online lending from origination to collections and beyond. Your hosts from Valmar Holdings are Rick Heaton, Chief Executive Officer, and Mike March, Chief Technology Officer.

In this inaugural episode, Rick and Mike discuss the ever-elusive work/life balance, what that means for them as leaders in the fintech industry, and how they are setting goals with accountability systems to improve in the future. While there may be no such thing as true work/life balance, The Loan Wolves still find ways to take care of their own wellness in the midst of running multiple growing businesses. For example, Mike takes a daily walk to stay active and clear his mind, and Rick loves to read business books as a way to unplug while still honing his craft. Both of your hosts acknowledge that it’s tough to set boundaries around working hours because they are so laser-focused on providing an exceptional experience for their customers; a tension that business owners and operators know all too well. 

If you enjoyed this episode, please subscribe, share this episode with your network, and find us on Linkedin to join the conversation.

Show Notes:

Article on Business News Daily: How to Improve Your Work-Life Balance Today

Valmar Holdings on LinkedIn: Follow Along Here