Starling Bank business loans review July 2020

The pioneering digital bank now offers loans for UK businesses up to £250,000, but currently only as part of the BBLS and CBILS.

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Starling Bank

Starling Bank business loan overview

Starling is one of the UK’s most popular challenger banks, offering digital-only banking products for individuals and businesses, as well as money transfers, business overdrafts and personal and business loans.

Businesses looking to borrow from Starling can apply for loans between £5,000 and £250,000, with loans up to £25,000 available with a representative APR of 7%.

Starling Bank business loans comparison

Data indicated here is updated regularly
Name Product Loan type Loan amounts Loan terms Turnover/trading criteria
Starling Bank Fixed Rate Business Loan
Fixed rate loan
£5,000 to £25,000
1-5 years
No specified minimum turnover,
minimum 18 months trading
Representative example: Borrow £15,000 over 36 months at a rate of 7% p.a. (fixed). Representative APR 7% and total payable £16,620.47 in monthly repayments of £461.68.
Starling Bank Variable Rate Business Loan
Starling Bank Variable Rate Business Loan
Variable rate loan
£25,001 to £250,000
1-5 years
No specified minimum turnover,
minimum 18 months trading
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Am I eligible for a Starling Bank business loan?

Minimum trading requirement18 months
Business typesLimited Company
Limited Liability Partnership
Additional eligibility infoYou must have a good credit history (your business and all directors/partners) - no arrears or defaults
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How can we help?

Textile studio in a small business

Compare loan rates

Get live, personalised quotes from a large panel of lenders through our partner Funding Options.

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Small business owner in workshop

Invoice financing

Unlock the value in your invoices today to access the funding your business needs to move forward.

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Technician using specialist equipment

Asset financing

Borrow against equipment or property to accelerate your company’s growth.

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Pros and cons

Pros

  • Competitive rates
  • Flexible repayment options
  • Easy to apply
  • No hidden fees

Cons

  • Online-only
  • Requires Starling business account
  • Rates will vary

How can I apply?

You can apply for a Starling Bank business loan by completing an application form on the Starling website. You’ll need to provide the following information as part of your initial application:

  • Business name
  • Bank account details
  • Contact details
  • Number of employees
  • Profit after tax
  • Turnover
  • Recent and current debts

You’ll also need to specify the terms of your loan, including:

  • How much you want to borrow
  • Loan term
  • Purpose of the loan

Verdict

Starling Bank business loans may be suitable for smaller, flexible businesses looking to secure additional finance to grow or support their business. As with its other products, Starling Bank business loans are digital-only, which means they offer the same kind of accessibility, simplicity and ease of use, but therefore lack the potential advantages of a brick-and-mortar lender.

Frequently asked questions

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