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"It made me nervous" Etsy shop owners concerned after bank collapse

Arizona Poppy
Posted at 6:46 PM, Mar 14, 2023
and last updated 2023-03-14 21:47:27-04

TUCSON, Ariz. (KGUN) — Tucked away in downtown Tucson, there's a brightly colored shop called Arizona Poppy. For the last five years, owner Rosie Crocker has worked to grow her business from opening a physical store downtown to creating an storefront on Etsy.

"It gives people a search engine where somebody from France or something," she said. "And they'll be able to look up my product."

She sells handcrafted goods, which includes everything from lotion to soaps and jewelry. But when the Silicon Valley Bank collapsed, the e-commerce site sent an email that stated payments are delayed to some sellers.

"It made me nervous that all of my online revenue was at risk," she said.

Etsy said they should be able to send out the back payments soon. Right now, Crocker said she doesn't see anything amiss in her account but it still worries her.

"If that did happen, I have a couple of employees that I'd have to let go and I'd have to make a lot of changes," she said. "It would be devastating to the small businesses that rely on the money so I do hope it all works out."