I'm John Bats with my colleague Jean Marks, a small business columnist at the Guardian

newspaper UK and US edition, as well as his hometown newspaper and mine as well.

We worry about the Phillies collectively.

The Philadelphia Inquirer.

We go now to small banks which are small businesses.

The report is that small banks are struggling with the after effect of the failure of the

16th largest bank in Silicon Valley.

Another troubled bank, so it was a bank in New York signature bank that failed, taken

over by the FDIC.

The effect of this on small banks is that they have to raise their interest rates.

Jean, that would go directly to the ability of small business to maintain their order

books in a stable fashion.

That's what's happening.

They can't get any.

It really does.

I don't know if you recall, we spoke a couple of weeks ago because I wrote a piece in the

Phillies Inquirer about the bank's reaction, smaller banks reaction to the Silicon Valley

bank collapse.

I interviewed a few CEOs from some independent community banks and they're all about, we're

ready for it, we're good, all that.

We're all afraid of this, which is a lot of smaller individuals and as well as small businesses,

the other spooks when they see smaller banks have these troubles.

...