The United States Hispanic Business Council President and CEO issues statement following the Silicon Valley Bank Collapse

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United States Hispanic Business Council

March 14, 2023, 13:45 GMT

WASHINGTON, DC, UNITED STATES, March 14, 2023 /EINPresswire.com/ -- The United States Hispanic Business Council (USHBC) is disappointed by the recent events at Silicon Valley Bank (SVB). As the second largest bank failure in our nation's history, the impacts will undoubtedly be felt by our small business community. From Etsy sellers to startup firms, access to revenue and capital will be disrupted for a number of small businesses. Javier Palomarez, President & CEO of the USHBC, issued the following statement:

“The USHBC recognizes that many of our constituents are rightfully concerned, we remain hopeful and stand ready to help the impacted businesses. We are confident in the stability of our nation’s banking industry, and we believe this incident has highlighted the importance of reliable banking partners with safe and effective banking strategies. Examples of such industry leaders are found among the USHBC’s partners, including Zions Bank, which has built a very solid and dependable business focused on a very diverse base of small to mid-sized businesses, individuals, and families over their 150-year history.

While U.S. regulators have assured that SVB customers will be made whole, the USHBC believes this serves as an important lesson for the financial industry and provides insight into what creates a stable banking environment. With this in mind, we implore other financial institutions to follow the example of Zions Bank and others like them in order to maintain a stable, secure, and effective financial services ecosystem.”

About the United States Hispanic Business Council

The United States Hispanic Business Council (USHBC) is a voice for the Hispanic business community. A 501(c)6 non-profit organization, the USHBC focuses on improving access to contracting in the public and private sector, fair representation of Hispanics in business, media, and politics and ensuring Hispanics have a voice in the national dialogue.