What Happens When a Favorite Bank for the Wine Industry Collapses?

A huge portion of California winemakers felt that terror, but much, much worse this past weekend, after Silicon Valley Bank (SVB) collapsed Friday morning. The bank, which had been America’s 16th largest, is now the second largest to fail in U.S. history, and while it was primarily known for being a favored partner with the tech industry, it was also a leading player in California wine, providing loans, financial advice and industry support to more than 400 winery clients.