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So its over month on from first registration and we still havent got through the people who registered in the first 24hrs and are still advertising for the bounce back loan.

Why wheel this amount of people in if you dont even have the funds to get through one days worth of registration.

Ive put my trust in the people i bank with and have totally been let down, loosing tge buisness and house looks likely at this point, and Tide is the direct cause.


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    Jun '20
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    Jun '20
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Hi D - to offer some glimmer of hope/light … and Cam has mentioned this before …

If you look on companies house - you can see the charge Tide holding has with Prepay, this is the current status:

25 May 2020


27 May 2020



Now I’m no expert - but it looks like they’re crossing the i’s and dotting the t’s, and the status should change to satisfied any day now. They’re obviously close to completing the deal - but like all legal matters, especially when large sums of money are involved, it takes a little time. They’re almost across the finishing line to securing the deal. Unfortunately the legal doc doesn’t disclose how much they’re borrowing, if it does, i couldn’t find it … but none the less - Tide are true to their word in that they’re securing a deal with PrePay Tech.

Keep the faith and stay safe


Hi @Dominicmccree,

We understand the Bounce Back Loan are vital for a lot of our members. We made the decision to apply to become an accredited lender because we are passionate about helping the SME community and wanted to help lend these much needed funds to our members.

Less than a month into issuing loans we have raised and lent over £50m in Bounce Back Loans - a significant amount for a business of our size. We’re now in the process of raising hundreds of millions of pounds more and hope to have this funding agreement in place soon so we can lend to many more Tide members.

I’m sure you understand that funding agreements of this magnitude take time, and this is why we have been unable to give our members a timeline for when we will be able get Bounce Back Loans to them.
As we explained when members joined our waiting list, we can not guarantee we will be able to lend to every eligible business on our waiting list.

We’ll keep you updated and, as we said in our previous communications, we encourage members to consider other options as well as a Bounce Back Loan from Tide.


Its just more copy and pasting.
If you didnt have the funds you shouldnt have applied, get the funding agreement then apply, the whole thing is a shambles.

Wait all this time to tell people you dont have funds to lend

Give people random numbers in the waiting list which have no correspondence to the days and times we all registered and the figures you’ve given out.

Advertise and allow thosands of people to open accounts and register for the bounce back loan with no realistic chance of getting one.

And you cant answer questions in a normal manner.

You have left alot of us in limbo as many banks are now not taking new applications ir it will take weeks upon weeks to go down that avenue.

If you had been transperent from day one, we would have probably tried different avenues abd had our loans.


Thank you for reaching out again. Responding to each of your points in turn:

There is very stringent process when applying to becoming an accredited BBL lender, and the first step had to be gaining our accreditation. We were then able to enter negotiations to source funding. As my colleague has said, £50M is a significant amount of money for a business of our size, but we’re working hard to gain more funding. We are actively lending at the moment and anticipate being able to secure hundreds of millions more to support our members.

We understand there has been some confusion over our waiting list system and sincerely apologise for this. Our waiting list works like a queue, and the number you are when you enter the queue will not change. Our automated tracker will allow you to see your position against our progress, as we work through the queue. The only reason your number may change is when we remove ineligible businesses from the queue, or if other members leave. Other lenders have since employed this system, as working on a first come, first served basis is one of the fairest solutions when so many businesses are suffering financial difficulties.

The Bounce Back Loan Scheme is a Government initiative open to all eligible small businesses. We believe it isn’t fair to discriminate against new customers so that’s why any small business owner can still apply for an account with us, and if they wish, register their interest in getting a Tide Bounce Back Loan. We contacted our members first, and 90% of the small businesses on our wait list are existing members.

Identifying ineligible people on our list is our top priority, and we’ve already begun contacting these small businesses, to allow them the opportunity to find an alternative lender.

We understand that the only solution you’re seeking is for your small business to be able to access a BBL. We are working incredibly hard to achieve this, and as soon as we have further updates we will communicate this across all our channels. I’m sorry that we can’t give any further answers right now.

Whilst I appreciate all the work Tide is doing, it doesn’t change the fact that Tide was economical with the facts at the start of this process. I think the US government calls these lies of ommission.

Had you told us, at the outset, that you would be lending to Ltds first and that you only had enough for 1000 50K loans, many of us Sole Traders wouldn’t have wasted our time. At that time many of the high street banks were still accepting new customers and we could have looked elsewhere. Maybe you didn’t want to lose customers, but by ommitting the key facts, you are going to lose customers anyway when the remaining 69000 of us, that didn’t get help, go out of business.

It would be good to know what stage your at with finding addititional funds. In general terms of course. i.e you’ve found a backer and are just waiting for legal to do due dilligence. Or you are still looking for someone/anyone to lend to you.

Are you looking for this funding in one lump sum or are you accepting any loan that will help you get to your target?

What we really want to know is how likely we are to see a BBL by the end of June or July or at all. A time scale that doesn’t involve the word ‘soon’ would be helpful. Soon to me means Today or Tomorrow. Soon to Tide seems to mean ‘at some point in the future, maybe before the BBLS deadline, but probably not.’

I await the usual boilerplate response.

Amazing influx of 5* reviews on Trust Pilot :+1::+1:
Must be giving out BBLs again :+1::+1::+1:

The wait list doesnt work like a que thats what the confusion is, why do you not just answer the questions properly.

Also you have more funding now, when do you think you will vey through the people who registered on the first day?

The same question i have. i registered on the first day and am no 399 in the waitlist. still waiting.

20:54 ???
My email telling me I am on the list is dated and timed: 11 May 2020, 19:16
And my position is 34727… Go figure…
And Tide insist it is first come first served… Yeah, sure…

I would forget whatever number you have been given unless it was given on here by Valentine.

She knows what’s she’s doing and gets to the bottom of any concerns you may have.

Yeah I got told I’m some ridiculous number & my mate who signed up a few days after was lower… tbh tho I didn’t take much notice as I don’t think it has any baring on the real numbers. (Clearly)

I’d say possibly even half may not be waiting anymore / eligible / signed up twice.

They are obviously lying to everyone about que positions, there is noyhing to suggest our positions are in order of registration, which in itself isn’t fair to us all as they are giving others preferential treatment.

Then copying and pasting the same replies.
The chance of getting a bounce back loan with tide is very slim, so yes they have fed us misinformation and have directly caused financial distress to our buisnesses and will have many companies shutting down due to them.

There is no point us new account holders being on the list
It don’t help the papers are saying everyone is spending the money in sports cars
The genuine ones in need will end up losing their Buisness
I didn’t realise it took that long


Just keep the faith mate.

Plenty of people rallying on behalf of all those suffering & no need for premature defeatism.