Last updated: March 20th, 3pm BRT


Index

<aside> 💡 Resources below are not endorsements or financial or legal advice. This is just an attempt to provide helpful resources and information to anyone who might need it.

</aside>

Scenarios + playbooks


1. I’ve got funds in SVB

Withdraw, right now! You can do it directly through the internet banking app. The wires are taking a little longer to process (3h in our case), but they’re going through! You might need to access their customer service center in case some of it is being held as collateral for credit cards.

In case you have an account in another bank, wire it there (even if it’s your Cayman Sandwich’s LLC). In case you haven’t already, open a bank account in one of our suggested alternatives below.

2. I’m fundraising right now and I don’t know where I should open a bank account

Open a bank account for your LLC and wire the funds directly there. There’s no tax impact or negative side-effect in the operation as long as it’s properly recorded in company records. Gunderson Dettmer put together this template that you can use to safely receive investments. We still haven’t found a reliable banking option for Cayman companies but keep tuned in our list below as we have a dedicated team validating those leads around the clock.

<aside> ✍️ How did you handle this situation? Take this quick anonymous survey to help other LatAm founders and investors to gain better insights about this episode and make more informed decisions moving forward.

</aside>

Banking options


While Meridian by Latitud is still in the oven (request early access here), this list is in constant evolution as we have a dedicated team crowdsourcing and validating these leads. Here’s what the emojis in the list mean:

✅ Lead successfully validated by our team ⏳ Lead being validated by our team 🇰🇾 Banks Cayman Companies 🇺🇸 Banks LLCs