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The near-collapse of Silicon Valley Bank earlier this year prompted other bank runs and greater regulatory scrutiny. But for private credit firms — which were already gobbling so-called specialty finance assets like residential solar financing and subprime auto loans — it was an opportunity.

These firms are expanding their reach into specialty lending, filling the vacuum as banks retreat. As they pull back from holding such assets, banks are doing their best to maintain a presence in these markets by partnering with their non-bank peers.

Credit funds and fast-moving fintech lenders may be more inclined than banks to hold these speciality lending assets for the long term, but there are still things they need from their friendly neighborhood regional bank.