Got a reply from my mp today.
“ Thank you for contacting me about Tide, I was sorry to hear of the difficulties that you have experienced.
I understand that you and many others have been directly affected by Tide’s decision to pause their Bounce Back Loan Scheme (BBLS) lending and to close their waiting list. I appreciate that many businesses are keen to receive the BBLS and protect their business and jobs during this difficult time.
As you know, the British Business Bank oversees the BBLS and other business support measures, such as the Coronavirus Business Interruption Loan Scheme. I note that the British Business Bank has made a statement on Tide’s decision on Twitter which states that the funding for the BBLS does not come from the Government or the British Business Bank, but from the lenders and it is for the lenders to secure funds and have sufficient capital to meet the lending forecasts. Tide remains an accredited lender and, should they secure additional funding, will be able to offer Bounce Back Loans again.
In the meantime, I would encourage you to approach other lenders offering the BBLS, of which there are over 20 other lenders, and apply to them for the BBLS. Even if you are rejected by a lender, you can still apply to another lender. Further to this, if you encounter any further difficulties, then please do not hesitate to get back in touch with my office and we will investigate your case further.”