Bidders have until 5 p.m. ET today to submit offers to the liquidator for the loan book of Silicon Valley Bank’s Canadian division. Its biggest asset is a loan to Toronto-based Clearco, the e-commerce lender co-founded by Michele Romanow, sources told Bloomberg. (Bloomberg)

Talking point: One of the sources said Clearco is attempting to fundraise and its investors need assurances on the loans’ status before signing off on a deal. Clearco declined The Logic’s request for comment. The Canadian division of SVB, which collapsed in early March, had about 200 borrowers, according to the sources, mostly from the tech, life sciences and cleantech sectors. Potential bidders have said the loan portfolio—made up of term loans, revolving credit lines, and venture capital and private equity call facilities—doesn’t appear to be in good shape, the sources said. Qualified bidders as determined by the liquidator will advance to a possible second phase, when they’ll be provided more information for due diligence. The deadline for phase two bidding is June 26.