Has anyone been notify regarding the BBL application?
nope not at all and I don’t believe they have delivered any loans and they should be investigated to see if this is true. Misleading the public is not on.
They have delivered some loans. Search Twitter for tide bounce back loans. There’s at least two confirmed, to be honest I wouldn’t want to confirm on a public forum myself but there’s evidence that they are releasing some money.
Over 40,000 businesses joined our waiting list in a matter of days. As you can imagine, we can’t immediately offer Bounce Back Loans to this number of you at once, so we’re taking a phased approach to lending to ensure compliance with the scheme rules, a smooth process and repayment of the loans.
As always, we beta launched with a select number of limited companies who had been Tide members for a while, before making the loans available more widely.
The first batch received offers of Bounce Back Loans from us on 19 May. We’re now working through our waiting list as quickly as we can. Unfortunately, we still can’t guarantee everyone who registers will be able to get a loan from us but we’re working hard to make the loans available to as many of you as possible, as well as providing more clarity on timelines.
I hope this will address all your questions.
Valentine, can you elaborate on the reason WHY you cannot guarantee everyone who registers will not get a loan. I can fully understand that some business will not qualify. Fair enough. But surely Tide shoudl be able to guarantee that all qualifying businesses will get loans. After all, Tide is just a conduit to lend government money - and there is a deep pot of that.
It’s not government money. Government is a guarantor.
Hi @Jtreacher, yes this is correct, we cannot enable access to the BBLS to businesses who do not qualify, therefore we cannot guarantee that by joining the waitlist you are guaranteed a Bounce Back Loan with Tide. If you need more information on the scheme, check out our FAQS or alternatively the British Business Bank FAQs for more information.
That is most reassuring and thank you for confirming. So any business that qualifies will get a BBL at some stage, which is great news. I think people can find a way to hang on IF they know there is money available, even if they have to wait for it.