Silicon Valley Bank helped fund operations for an estimated 10-20% of Washington wineries.
SEATTLE — Fallout continues across the country after Silicon Valley Bank (SVB) collapsed this past week. It’s the second largest bank failure in U.S. history, only behind Seattle-based Washington Mutual’s crash back in 2008.
The SVB closure impacted businesses across Puget Sound.
“The wine industry was pretty shocked and surprised,” said Erik McLaughlin, CEO of Metis, which advises wineries in the Pacific Northwest.
“We see them as one of the very best in the industry so everybody was caught off guard by it,” McLaughlin said.
Federal regulators
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