Starling Bank business loans review 2024

If you’re looking for a business loan, find out whether Starling Bank could help you. Starling offers loans from £25,001 to £250,000 for up to 72 months.

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Business loans are a popular way for companies to borrow the funds they need to help them expand, buy new equipment or even purchase property. They typically let you borrow a lump sum of money you repay over a set term with interest added.

This review looks at the business loans on offer from Starling Bank.

Starling Bank business loans comparison

Explore business loans from Starling Bank and other top lenders in our comparison tables below.

Starling Bank business loans

Compare Starling Bank business loans by loan type, loan amount and more to find the right fit for your business.

Name Product Finder Score Loan type Loan amounts Loan terms Turnover/trading criteria Key benefit
Starling Bank Fixed Rate Business Loan
3.0
★★★★★
Fixed rate Secured loan
£25,001 to £250,000
12 to 72 months
No specified minimum turnover,
minimum 24 months trading
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Other popular business loans

Narrow down other top business loans by loan type, loan amount and more to find the best for your budget and financial goals. Select Get Quotes for rates and terms tailored to you.

Name Product Finder Score Loan type Loan amounts Loan terms Turnover/trading criteria Key benefit
Portman Finance Business Loan
Not yet rated
Fixed or variable rate Asset finance loan
£10,000 to £2,000,000
3 to 72 months
£100,000 minimum turnover,
minimum 1 year trading
Representative example: Borrow £30,000 over 3 years at a rate of 7.26% p.a. (fixed). Total payable £36,537.84 in 36 monthly repayments of £1014.94.
Funding Options Unsecured Loan
4.5
★★★★★
Unsecured loan
£1,000 to £20,000,000
12 to 72 months
£5,000 per month minimum turnover,
minimum 6 months trading
Representative example: Borrow £50,000 over 24 months at a rate of 7.63% APR. Monthly repayment of £2,252.94 and the total amount payable is £54,070.56.
Nest Unsecured Business Loan
4.0
★★★★★
Fixed rate Unsecured loan
£10,000 to £5,000,000
No specified loan terms
£200,000 minimum turnover,
minimum 12 months trading
Barclays Secured and Unsecured Business Loans
4.5
★★★★★
Fixed or variable rate loans
From £1,000
12 to 240 months
No specified minimum turnover or time trading
Subject to application, financial circumstances and borrowing history. Other terms may be available.
JD Capital Finance Unsecured Business Loan
2.5
★★★★★
Variable rate Unsecured loan
£10,000 to £500,000
No specified loan terms
£100,000 minimum turnover,
minimum 12 months trading
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Overview of Starling Bank small business loans

Founded in January 2014, 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, overdrafts and business loans.

Businesses looking to borrow from Starling can apply for loans of between £25,001 and £250,000, with repayment terms of between 12 months and 72 months. Businesses can use the funds to help them purchase equipment, expand or help with cash flow.

Your business will need to have been trading for at least 24 months to qualify, and you’ll need to undergo a full credit assessment when you apply. The rate of interest you’re offered on your business loan will depend on your business credit rating and your individual business’ circumstances.

What business loans does Starling Bank offer?

Starling Bank offers unsecured business loans of between £25,001 and £250,000 which you need to repay over a term of 12 months to 6 years. All business loans have fixed monthly repayments.

To get a business loan with Starling Bank, you will need to sign a personal guarantee as security. This means that should your business be unable to meet the monthly repayments, you – as the business owner or director – will be personally responsible for repaying the loan.

Key features of Starling Bank business loan

The key features of a Starling Bank business loan are outlined below:

  • Loans of between £25,001 to £250,000
  • Repayment terms of between 12 months and 72 months
  • Personal guarantee required
  • Fixed monthly repayments
  • One-off loan arrangement fee of 4% payable when you receive the loan funds
  • Available to limited companies and limited liability partnerships
  • No fees for early repayments
  • You’ll need a Starling Bank account to apply

Repaying a Starling Bank loan

You repay your Starling Bank loan in fixed monthly payments over a term of between 12 months and 6 years. Selecting a longer loan term will reduce the cost of your monthly repayments, but it will also mean you’ll pay more interest overall.

The amount of interest added to your repayments will depend on your business’ individual circumstances and credit rating. The better your business credit rating, the lower the interest rate you’ll likely be offered.

Your company is responsible for the loan repayment, including all interest and your arrangement fee. If your business is unable to keep up with the repayments, you as a business owner or director will become personally responsible for paying back the loan under the terms of your personal guarantee.

If you think you might miss a loan repayment, it’s important to contact Starling Bank immediately. Missed payments can damage your credit score.

Eligibility requirements

To be eligible for a business loan with Starling Bank, your business needs to be based in the UK and must have been trading for at least 2 years. Your business must be a limited company or limited liability partnership.

In addition, you will need to have a Starling Bank business current account to qualify.

Pros and cons

Pros

  • Borrow between £25,001 and £250,000
  • Range of terms to choose from
  • No fees for early repayments
  • Easy to apply

Cons

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

Customer reviews

Starling Bank is highly rated on review site Trustpilot. As of January 2024, it scores 4.4 out of 5 stars from more than 38,000 reviews, giving it an “excellent” rating.

A total of 75% of customers gave Starling an “excellent” rating, with positive comments focusing on the amazing customer support and easy application process. However, some reviewers said they had issues opening accounts and receiving payments.

Customer support

You can start a live chat with customer support through the Starling app, or alternatively you can call on 0207 930 4450.

Our 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, so you’ll need to be happy managing your loan online or via the app.

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Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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