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Comment by barake | Hacker News Reader

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barake·

I'm surprised that Stripe Capital hasn't extended a similar offer for customers of SVB.

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where do you think Stripe Capital banks

They threw all their Atlas customers into SVB, according to Atlas customers

I think they bank with Celtic Bank. I think this because it says on the Stripe Capital product page on the bottom: https://stripe.com/capital/platforms

> Loans are issued by Celtic Bank, a Utah-Chartered Industrial Bank Member FDIC. All loans subject to credit approval.

The issuing bank for loans isn't necessarily where the company keeps the majority of their assets.

OP's claim was that Stripe Capital's loan underwriter was SVB, hence why they weren't extending loans to SVB affected customers.

Stripe itself was, and probably still is, using Wells Fargo for US corporate accounting, per https://qr.ae/pvERsZ

Stripe is still saying they are extending loans via Capital with no change to recent terms they've been offering. Confirmed with our account manager this afternoon, just in case.

Exactly. Before they were all hyping about their valuation and now there are so awfully quiet. Perhaps that is why?

If a victim of SVB tries to use HN as Stripe customer support and asks if they are exposed, will they respond and admit that their business capital funds in Atlas is lost?

> They threw all their Atlas customers into SVB, according to Atlas customers

And removed all mentions about SVB in Atlas. Stripe has been very quiet about their own involvement in SVB for their entire business.

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