Editing Silicon Valley (section)

===Banking===

Another important pillar of the Valley's success was [[Silicon Valley Bank]] (SVB), founded in 1983 by a group of former [[Bank of America]] executives.<ref name="WRichardScott" /> Before its [[Collapse of Silicon Valley Bank|2023 collapse]], SVB specialized in providing banking services to Silicon Valley entrepreneurs and their startup firms. SVB's original primary commercial lending product was a [[working capital]] [[line of credit]], secured by a startup's [[accounts receivable]].<ref name="Dean_Page_314">{{cite book |last1=Dean |first1=John C. |editor1-last=Lee |editor1-first=Chong-Moon |editor2-last=Miller |editor2-first=William F. |editor3-last=Hancock |editor3-first=Marguerite Gong |editor4-last=Rowen |editor4-first=Henry S. |title=The Silicon Valley Edge: A Habitat for Innovation and Entrepreneurship |date=2000 |publisher=Stanford University Press |location=Stanford |isbn=9780804740630 |pages=314–324 |chapter-url=https://books.google.com/books?id=eK52augjU98C&pg=PA314 |access-date=December 3, 2023 |chapter=Fueling the Revolution: Commercial Bank Financing}}</ref> In contrast to traditional banks, who focused their commercial lending on already-established businesses, SVB specialized in lending money to small startup companies in the "preprofit" stage.<ref name="Dean_Page_314" />