You are required to use Starling as your main business bank account if you’re … Money transfers. Our Privacy Notice sets out how the personal data collected from you will be processed by us. A recently accredited Bounce Back Loan lender, Funding Circle are only offering Bounce Back Loans to their current customers, and ones that they have invited to apply for them. I have received an email saying my application has been accepted. Find out more about Bounce Back Loan Top-Ups, including how to apply. Bosses at Lloyds and Santander told MPs on the Treasury Select Committee that around 1% of bounce back loans have been taken out fraudulently. The help and assistance options available to you, including sources of free independent advice. I was trading before 1st March but was incorporated after 1st March 2020. You can only provide an estimated turnover figure if your business was established after 1 January 2019. Your business was established and trading by 1 March 2020 (inclusive). Cancel our agreement with you and require you to repay the full amount of the Bounce Back Loan immediately; Set off any amounts you owe us under the agreement against any funds you hold with us in other accounts; Take enforcement action against you to recover any amounts you still owe if necessary; Restrict your access to any other credit facilities you have with us and require you to immediately repay those facilities; and. These cookies are set by third parties such as Google, Bing, LinkedIn and Facebook. If you do not want YouTube cookies stored do not click on the YouTube embedded videos. To apply for a sole trader account you’ll first need to open a personal account. Should you wish to make a complaint, please visit our How to complain page which includes details of our complaints handling procedure and your right to complain to the Financial Ombudsman Service. BBLS Loans are not subject to the usual consumer protections that apply to business lending and as such you will not have the benefit of the protection and remedies that would otherwise be available to you under the Financial Services and Markets Act 2000 or the Consumer Credit Act 1974. Starling, the digital bank, has been accredited by the British Business Bank as a lender under the government-backed Bounce Back Loan Scheme (BBLS). If another lender has incorrectly recorded that you have a Bounce Back Loan with them, you must contact the lender and request that they update their Bounce Back Loan records. Application Process Am I guaranteed to be accepted for a Bounce Back Loan? Starling Bank have also been approving many of the applicants who they invited to do so and who applied late last week, so if you are one of the next batch of people they invite to apply for a Bounce Back Loan moving forward be aware that it can take up to a week for them to look at your application and approve you (hopefully) and they are fast out paying too, usually a day or so after signing. I don’t have my tax return, what documentation can I submit? Find out more about Bounce Back Loan Top-Ups, including how to apply. We embed YouTube videos with the privacy-enhanced mode on which means it will not place any cookies until you click to play the video. 09092149), 3rd floor, 2 Finsbury Avenue, London EC2M 2PP. This also means that if one of the directors or PSC in your business is also a director or PSC a separate business with a Bounce Back Loan with us, your business is not eligible for a Bounce Back Loan with us. If you already have a Bounce Back Loan, you can’t apply for a second one. The projected turnover must be realistic and based on past business performance. Essential cookies help you to access the website and each of its web pages and sub domains, by enabling basic functions like cookie consent. We cannot give BBLS loans to companies formed after this date. Please follow the steps below: No, there is no guarantee your application will be accepted. Application Process. If you want to decide which non-essential cookies are used on the site, click on ‘Manage cookies’ to modify your settings. Can I apply for a bounce back loan? Demand for Bounce Back Loans remains high. You could be subject to legal proceedings if found to have more than one Bounce Back Loan for your business. This site uses cookies. © Starling Bank 2020. Apply for your Starling Bank loan in a few minutes with a few taps in the app, then once it’s approved, you’ll see the money straight away. If you’re not yet a business customer, you do need to apply for a business account before applying for a Bounce Back Loan. They cannot be disabled. My BBLS application has been successful, but why do I see a scheduled BBLS payment set up in my account?