Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

How Minnesota's venture-backed businesses navigated Silicon Valley Bank's collapse


March 14, 2023

Early Monday morning, after days of intense anxiety and stress, Liz Giorgi finally exhaled.

Giorgi — the chief executive and co-founder of a Minneapolis-based on-demand photo and video services studio called Soona — could access her company's deposits from Silicon Valley Bank, the Santa Clara, Calif.-based lender that collapsed at the end of last week following a tumultuous bank run.

Giorgi had backup plans to meet payroll and protect Soona's 150 or so employees in case funds didn't land Monday.


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