Update 31 March 2021: In line with the government’s announcements, this scheme ended on 31st March. Starling is no longer accepting applications for BBLS loans. Starling plans to continue to support SMEs. We are currently in discussion with the BBB to offer the government’s Recovery Loan Scheme.

Update 21 December 2020: The closing date for the Coronavirus Business Interruption Loan Scheme (CBILS) and the Bounce Back Loan Scheme (BBLS) has now been extended until 31 March 2021. You can find more information on our CBILS and BBLS pages.


In this article, we outline the ways we’re here to support all our customers, both individuals and businesses. Remember that we’re continuing to welcome new business and personal customers to Starling, and you can apply for an account by downloading the app. There’s no need to visit a bank branch or post us any documents - everything can be done from home. 

Support for businesses

Bounce Back Loan Scheme (BBLS)

  • £2,000 - £50,000 offered to eligible sole traders, limited companies and limited liability partnerships until 31st January 2021.
  • We’re working our way through the list of businesses who have registered their interest for a loan. We’ll send an email to eligible business owners, inviting them to apply for a Bounce Back Loan. If you’ve already received a Bounce Back Loan, we won’t be able to offer you an additional loan. 
  • Customers who have already received a Bounce Back Loan from Starling may now apply for a Bounce Back Loan Top Up, to the lesser of £50,000 or 25% of your business’s annual turnover, subject to eligibility. Check on our BBLS Top-Up page for the latest updates. You can apply through online banking if you are eligible.

Coronavirus Business Interruption Loan Scheme (CBILS)

  • £50,001 - £250,000 offered to eligible limited companies and limited liability partnerships until 31st January 2021.
  • CBILS overdrafts between £50,001 and £150,000 also offered to eligible limited companies and limited liability partnerships until 31st January 2021 - you can apply for both a loan and overdraft, if necessary.
  • Existing Starling business customers, those waiting for their Starling business account to be approved and non-Starling customers can apply for a CBILS loan or overdraft.
  • An open Starling business account with an active debit card is needed to receive the funds.

Specialist team available to discuss financial difficulties

  • For those struggling to repay their loan or overdraft, our specialist team is here to talk you through your options and agree an affordable repayment plan, based on your business needs. You can do so by calling 020 3841 4955 or emailing businesslending@starlingbank.com.
  • We would also recommend that you look into independent, free debt advice from organisations such as the Business Debt Line.

Tools to manage and plan your business finances

  • Our Spending Insights tool makes it easy for you to see how you’re spending your money each month. We automatically categorise outgoings and calculate percentages of how much you’ve spent on equipment or admin, or the total spend for each merchant. We want to make it as simple as possible for you to budget and understand your business expenditure.
  • Our Spaces tool enables you to set money aside and ring-fence it for certain purposes, for example bills or tax. It’s designed to help you plan and organise your cash flow, all from the Starling app.
  • Our Business Toolkit is an additional option for Starling business customers. By making bookkeeping and invoicing more efficient, we make it easier for you to manage your cashflow. You can create invoices and mark when they’ve been sent. When a payment comes in, we’ll suggest a match with an invoice so you can mark it as paid, making outstanding invoices easy to see and, if necessary, chase.

Support for individuals

Overdrafts

  • If you’re worried about repaying your overdraft, have a look at our page on money worries or our blog posts on coronavirus support for further information and guidance. 
  • Alternatively, you can reach out to our specialist team here to guide you through and agree an affordable repayment plan for an outstanding overdraft balance. You can talk to them by calling 020 3841 4955 or emailing collections@starlingbank.com.

Loans

  • For those whose finances have been negatively impacted by the coronavirus, we offer the possibility of three month payment holidays for Starling loans. For more information you can call 020 3841 4955 or email collections@starlingbank.com.
  • In total, we can potentially offer payment holidays of up to six months, usually in two, three month blocks, for those impacted by the coronavirus. All this can be discussed with our specialist support team, who can help arrange an affordable repayment plan.

Tools to help you save and budget

  • Our Card Controls help you choose how and where you’d like to spend your money. For example, if you find yourself online shopping when you’re anxious, you can block online payments from your Starling app. You can also block payments made to gambling and betting organisations.
  • To put your savings on autopilot, you can create a savings Space and switch on Round Ups. This means that every time you spend money, the change will be rounded up into your savings. For example, if you spend £23.60 at the supermarket, 40p will go into your savings. You can also multiply your Round Up by two, five or ten, helping you set money aside as you spend.
  • Our Scheduled Payments screen displays all upcoming direct debits, standing orders and recurring card payments, so that you can see if you’re happy with all the regular payments going out.
  • We often share budgeting tips through our blog. If you’re worried about debt, you could speak to a specialist at The Money Advice Service, StepChange or Citizens Advice. And remember that you can always talk to our Customer Service team - on hand 24/7 via in-app message, phone or email. Or our specialist financial difficulties team, available 9am-5pm, Monday to Friday.

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