--- title: Statement on SVB Incident from Fund That Flip description: Statement from the CEO of Fund That Flip on the SVB Incident and the impact on Fund That Flip's operations. image: https://learn.upright.us/hubfs/Door%20of%20a%20new%20contemporary%20office%20building.jpeg --- [![Upright Real Estate Investment](https://learn.upright.us/hs-fs/hubfs/Upright_RGB_PrimaryLogo-2.png?width=175&height=42&name=Upright_RGB_PrimaryLogo-2.png "Upright Real Estate Investment")](https://upright.us/) [![Return Home >](https://no-cache.hubspot.com/cta/default/2129804/90add894-e0b2-4f0c-bc22-7c5b348dd1d7.png)](https://cta-redirect.hubspot.com/cta/redirect/2129804/90add894-e0b2-4f0c-bc22-7c5b348dd1d7) [Back to the Blog](https://learn.upright.us/real-estate-investing-blog) # Statement on SVB Incident from Fund That Flip March 13, 2023 | By [Matt Rodak, CEO and Founder](https://learn.upright.us/real-estate-investing-blog/author/matt-rodak) Dear Fund That Flip Community, As has been widely reported, on Friday, March 10, the California Department of Financial Protection and Innovation stepped in to halt operations at Silicon Valley Bank (SVB), handing over control to the Federal Deposit Insurance Corporation (FDIC). SVB was one of Fund That Flip’s banks. In anticipation of this, we mobilized Thursday evening and throughout the weekend to optimize our ability to serve our customers without disruption. On Sunday, March 12, the Treasury, Federal Reserve, and FDIC released [a joint statement](https://home.treasury.gov/news/press-releases/jy1337) that 100% of depositors’ funds would be available on Monday, March 13. We continue to work tirelessly to ensure that we are providing extraordinary service to our customers. As a result, we will rely upon some of our other banking partners and also be establishing new relationships to replace the services previously provided by SVB. As we work to implement these changes, there may be minor delays in processing certain financial transactions. It is also possible that until we can get all banking operations transitioned, the level of service provided by the bank established by the FDIC to stand in the stead of SVB will process transactions slower than would normally be expected.   Please know that this is our highest priority, and we will be doing everything within our control to ensure a seamless transition. We will continue to communicate specifics if we do expect any delays and information that may impact you individually.  We appreciate your trust in choosing us. Matt Rodak Founder and CEO - - - ### Returns up to 13% investing in real estate. Diversify your portfolio with short- or long-term investments, individual or pooled fund offerings, and hundreds of developers and project types throughout the U.S. [![Sign Up](https://no-cache.hubspot.com/cta/default/2129804/9beb5019-97e3-48ab-bc90-ee874cd213ac.png)](https://cta-redirect.hubspot.com/cta/redirect/2129804/9beb5019-97e3-48ab-bc90-ee874cd213ac) ### Loan commitments in about 24 hours, with pre-approval up to $5M to make winning bids. [![Apply Now](https://no-cache.hubspot.com/cta/default/2129804/3420ff91-259d-4238-ae5b-bda78b01cff5.png)](https://cta-redirect.hubspot.com/cta/redirect/2129804/3420ff91-259d-4238-ae5b-bda78b01cff5) [![Presentation in a conference room with dozens of attendees.](https://learn.upright.us/hubfs/Conference%20room%20presentation.png)](https://learn.upright.us/real-estate-investing-blog/bpcon23-recap-we-came-we-listened-we-have-some-thoughts) October 24, 2023 ## [BPCON23 Recap: We came, we listened, we have some thoughts.](https://learn.upright.us/real-estate-investing-blog/bpcon23-recap-we-came-we-listened-we-have-some-thoughts) by [Upright](https://learn.upright.us/real-estate-investing-blog/author/upright) **[Upright](https://www.upright.us/)** **1300 E. 9th Street, Ste. 800, Cleveland, OH 44114 Real Estate Investment [info@upright.us](mailto:info@upright.us) | [646-895-6090](tel:6468956090) [![Instagram](https://learn.upright.us/hs-fs/hubfs/Email_2023/mdi_instagram.png?width=29&height=29&name=mdi_instagram.png)](https://www.instagram.com/buildwith_upright/)  [![Linkedin](https://learn.upright.us/hs-fs/hubfs/Email_2023/linkedin-icon.png?width=29&height=29&name=linkedin-icon.png)](https://www.linkedin.com/company/buildwithupright/)  [![Facebook](https://learn.upright.us/hs-fs/hubfs/Email_2023/fb-icon.png?width=29&height=29&name=fb-icon.png)](https://www.facebook.com/buildwithupright)  [![TikTok](https://learn.upright.us/hs-fs/hubfs/Email_2023/tik-icon.png?width=29&height=29&name=tik-icon.png)](https://www.tiktok.com/@buildwith_upright?lang=en)  [![X Twitter](https://learn.upright.us/hs-fs/hubfs/Email_2023/x-icon.png?width=29&height=29&name=x-icon.png)](https://twitter.com/build_Upright)  [![YouTube](https://learn.upright.us/hs-fs/hubfs/Email_2023/ytb-icon.png?width=29&height=29&name=ytb-icon.png)](https://www.youtube.com/@buildwithupright)  [![Events](https://learn.upright.us/hs-fs/hubfs/Email_2023/calendar-icon.png?width=29&height=29&name=calendar-icon.png)](https://www.upright.us/events)**   Past performance is not indicative of future performance. Investors should not rely on forward-looking statements because such statements are inherently uncertain and involve risks. No returns are guaranteed and these types of investments involve a high degree of risk.   Neither the Securities and Exchange Commission (SEC) nor any federal or state securities commission, or any other regulatory authority has recommended or approved of the investment or the accuracy or inaccuracy of any of the information or materials provided by or through the website. Direct and indirect purchase of real estate property involves significant risks, including, but not limited to risk related to sale of land, market and industry risks, and risks specific to a given property. Investments are not bank deposits, are not insured by the FDIC or by any other Federal Government Agency, are not guaranteed by Fund That Flip, Inc. dba Upright, and may lose value.   Fund That Flip, Inc. dba Upright does not make investment recommendations and this message should not be construed as such. This message is not an offer to sell or the solicitation of an offer to buy any security, which can only be made through official offering documents that contain important information about risks, fees, and expenses. Any investment information contained herein has been secured from sources Fund That Flip, Inc. dba Upright believes are reliable, but we make no representations or warranties as to the accuracy of such information and accept no liability therefor. We recommend that you consult with a financial advisor, attorney, accountant, and any other professional who can help you to understand and assess the risks associated with any investment opportunity. If and when Fund That Flip, Inc. dba Upright is able to make investment opportunities available, only accredited investors who submit required verification will be able to invest.     **© Fund That Flip, Inc. dba Upright, 2024  | [Privacy Policy](https://www.upright.us/legal?tab=privacy-policy) | [General](https://www.upright.us/legal?tab=terms)[Terms of Service](https://www.upright.us/legal?tab=terms) [|](https://www.fundthatflip.com/terms-of-service) [Investment Terms of Service](https://www.upright.us/legal?tab=investment-tos)**     ![](https://www.facebook.com/tr?id=1484345195216823&ev=PageView&noscript=1) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Matt Rodak, CEO and Founder", "url" : "https://learn.upright.us/real-estate-investing-blog/author/matt-rodak" }, "dateModified" : "2023-03-22T13:35:57.082Z", "datePublished" : "2023-03-13T13:40:41.000Z", "headline" : "Statement on SVB Incident from Fund That Flip", "image" : [ "https://learn.upright.us/hubfs/Door%20of%20a%20new%20contemporary%20office%20building.jpeg" ], "mainEntityOfPage" : { "@id" : "https://learn.upright.us/real-estate-investing-blog/statement-on-svb", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://learn.upright.us/hubfs/Upright_RGB_PrimaryLogo-1.png" }, "name" : "Upright" } } ```