Starling Bank Sees Strong Demand for Bounce Back Loans

AltFi reports on Starling’s progress in participating in the Bounce Back Loan program; so far they have received 18,000 applications and are now having to focus on existing customers; Starling plans to reopen the sole trader account process on June 1, 2020; CEO Anne Boden tweeted that they had processed 75% of applications and have declined 16%; over 94% of their customers are receiving funding in 24 hours; Last Friday, Boden shared that they had lent out £263m to SMEs and have partnered with Funding Circle to lend £300m more under CBILS. Altfi

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