The bankruptcy liquidator in charge of Silicon Valley Bank’s Canadian unit is set to receive offers for its loan book on Monday, and the biggest asset is a loan to e-commerce lender Clear Finance Technology Corp., according to people with knowledge of the matter.
Toronto-based Clear Finance, which operates under the name Clearco, is an alternative lender that offers cash advances to e-commerce and software startups. It’s struggling amid the tech sector downturn after its cost of capital jumped. The company has done extensive staff cuts and exited markets outside North America.
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