Bank Turmoil Squeezes Borrowers, Raising Fears of a Slowdown
Economists are predicting a domino effect from the recent bank collapses, with many industries feeling the aftereffects.
Sarah Puil must buy between $500,000 and $1 million in premium wine by the end the year. She will use the inventory to create the blends her company ships and sells to customers across the country. She is unsure where to find the money after the failure of Silicon Valley Bank caused a chain reaction which has led to many funding options drying up.
Boxt, a three-year old purveyor upscale boxed wines, is in a vulnerable phase where access to credit is critical to its growth, and its ability to continue producing its reds, whites and roses offerings.