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This story was delivered to Business Insider Intelligence Banking Briefing subscribers earlier this morning. UK neobank Starling has run into some issues with its business banking proposition in the past few days:It has temporarily stopped accepting new applications for sole trader business accounts. on May 14 that it would not be opening any new sole trader accounts until June 1 due to record demand. It plans to focus on better serving existing sole trader clients in the interim.
Starling has made a concerted push to elevate its status as a business bank during the coronavirus pandemic, so growing pains are far from unexpected. Starling has done just about everything possible to come out of the coronavirus crisis as a top-of-mind bank for businesses by supporting them in their time of financial need. In addition to becoming
as a BBLS lender, the neobank is accredited under another major UK relief loan program, the Coronavirus Business Interruption Loan Scheme .
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