Apply for a business loan

What are the key features of the Starling Business Loan?

• Business Loans from £25,001 to £250,000
• Personal Guarantee required as security
• A fixed interest rate, so your repayments stay the same for the duration of the loan
• One-off loan arrangement fee of 4% payable at point of drawdown
• Available to Limited Liability Companies and Limited Liability Partnerships. We will not accept applications from sole traders
• No fees for early repayments
• Repayment terms between 12 months to 72 months
• Non Starling customers can apply, but you will need to open an account. Please refer to our account terms and conditions to see if your business will be eligible for an account with us

What we’ll need to know

• Your personal and business details. The person completing the application must be a director or partner of the business applying for the facility and be currently authorised to act on its behalf. When we refer to “your business or your company” we are referring to a limited liability partnership or a private limited company as applicable
• Your registered company number with Companies House
• What do you need the money for, such as purchase of equipment, business expansion and working cash flow
• The latest filed accounts for the business including your Profit and Loss statement and balance sheet
• Where you hold a non-Starling Bank account, the last 6 months of statements

What you need to know

• All applications are subject to credit checks on both the company and directors
• A full credit assessment is completed on all applications, which includes a check on whether your business can afford to repay the debt.
• Your company is responsible for repayment of the loan, including all interest and your arrangement fee

Eligibility Criteria

• If you are not a Starling business customer then you will need to open an account and transfer your primary business banking. Please refer to our account terms and conditions to see if your business will be eligible for an account with us
• UK-based: The borrower must be based in the UK and carrying out trading activity in the UK. We look at your Persons of Significant Controls (PSCs) on Companies House too - you’ll need to have active PSCs and they must be UK-based
• Your business must have been trading for at least 24 months
• A full credit assessment is completed on all applications, which includes a check on whether your business can afford to repay the debt
• Credit and fraud checks for all applicants: Starling will undertake credit and fraud checks for all applicants. This will include a check on your business and its Directors/PSCs
  • This will include a check to see if you or your business have missed direct debit payments, missed lending repayments, defaults or have any County Court Judgements
  • We will see if you have been a director or PSC of other businesses that have become insolvent.
  • We will also check to see that your business hasn’t missed other payments, such as for loans or direct debits.
• Your accounts and confirmation statements should be up to date on Companies House.
• We will not accept applications from companies that are Dormant on Companies House