Liquidity Group plans loan aid for startups hit by Silicon Valley bank collapse

Venture capital firm Liquidity Group plans to provide about $3 billion in emergency loans to start-up clients hit by the collapse of a Silicon Valley bank. About $1.2 billion in cash will be available in the coming weeks, CEO and co-founder Ron Daniel said in an interview Sunday. The company is also in discussions with financing partners including Japan’s Mitsubishi UFJ Financial group Inc. and Apollo Global Management Inc. for an additional $2 billion in loans. Daniel also said that a typical loan is a one-year loan of $1 million to $10 million, or up to 30% of the balance of the SVB account, and the first task is to help the business pay payroll expenses.

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