Supporting businesses

At Starling, we understand this is a difficult time to be running a business and we’re doing everything we can to help our customers. As always, you can manage your finances from the Starling app, and our customer support team is here for you 24/7. You can get in touch with them via phone, email or in-app chat.

Has your business been affected by coronavirus?

In response to coronavirus, the government has announced two lending schemes to support businesses. Have a read of our coronavirus support blog posts to find out more. We’ve also published a few tips that may help small businesses coping with coronavirus.

The Coronavirus Business Interruption Loan Scheme (CBILS)

The CBILS is available for loans from £50,001 up to £250,000. Apply for the CBILS with Starling.

The business Bounce Back Loan Scheme (BBLS)

The business Bounce Back Loan Scheme provides loans of £2,000 to £50,000. As an accredited lender, Starling is offering loans under this scheme. Information on eligibility criteria and to join our BBLS list.

The government has also announced:

  • Small business grant funding
  • A Statutory Sick Pay relief package for SMEs
  • A Coronavirus Job Retention Scheme
  • Deferring VAT and income tax payments
  • A 12 months business rates holiday for certain businesses

Update on non-CBILS/BBLS business lending

Our focus at the moment is on delivering CBILS and BBLS borrowing as quickly as we can to our customers. We are not accepting applications for non-CBILS or non-BBLS Starling business loans or overdrafts at the moment.

The following information is applicable to non-CBILS/BBLS lending so is not currently relevant to lending applications.

Starling offers loans of £5,000 to £250,000 for a term of 1-5 years to customers who already have a business current account and meet the following criteria:

  • Limited Company or Limited Liability Partnership
  • Trading for more than 18 months
  • Have a good credit history (your business and all directors/partners) - this means no arrears or defaults
  • All directors are over 18 years old
  • All directors/partners in the business must also be willing to provide a personal guarantee.

Loans up to £25,000 have a representative rate of 7% APR (fixed).


See how much a Starling business loan would cost you

Borrow

£

Please enter an amount between £5000 and £25000

for

over 12 months

Total Amount Repayable £5,186.06
Monthly Repayment £432.17
Representative APR 7%
Indicative example based on loan starting 1 January 2020. Actual repayments may differ slightly depending on the start date of your loan.

Representative example:
Representative APR of 7%. Borrow £15,000 repayable over 36 months at an interest rate of 7% pa (fixed) with monthly repayments of £461.68. A total amount payable of £16,620.47.
The rate you are offered will depend on your individual business’ circumstances.

A fair and flexible business loan

Fair

Our interest rates are competitive. For loans up to £25,000, the representative rate is 7% APR (fixed), with no early repayment fees. We’ll assess your business to work out your bespoke rate and we’ll never charge you hidden fees.

Need more than £25,000? Our rates are variable and you’ll get more information when you apply.

Flexible

Choose a monthly repayment date that suits you. For loans up to £25,000, repayments are fixed and you’ll know exactly what’s coming up for the life of the loan (good news for your business plans!).

Easy

Apply in minutes, from anywhere. Want a Starling business loan but don’t want to switch your business current account fully over yet? No problem. Just open a Starling business account and use it alongside any other bank account.

Personalised

Business is personal – and unlike some other banks, we get that. Your application will be reviewed by a real human. We take the time to understand your business and make a considered decision.


Already have a business loan with Starling and you need help or are worried?

Our customer support team is here for you 24/7. You can get in touch with them via phone, email or in-app chat.

An APR (Annual Percentage Rate) is a common way of showing interest rates on loans, which you can use to compare different banks’ interest rates. It takes into account the rate of interest and any fees charged for taking out the loan.

We expect at least 51% of customers to get the Representative Rate or better.

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