Bounce back loans - more than one business


#1

Good afternoon,

I have a number of limited companies that trade in various products and services, most have been effected by COVID-19. I have asked if Tide will support the businesses that have accounts, I have been told it “one” loan per customer, I have pointed out that I have Ltd companies and they trade in different sectors and are NOT a group, I was further replied to:

“To be honest with you, we are still awaiting for further guidance from the british bank. Please keep an eye out for our updates and FAQ’s, as soon as these details are confirmed we will be sharing them with our members immediately” the support team member was - Katya

That reply was made on the 19th May, I straight away did some research, Santander have got there ducks in a row and have published guildence, click the following link:

I clearly fall into scenario D, small prints reads: If company A and company B are not operating in the same (or adjacent) markets, each may apply for a bounce back loan.

So come on Tide, if Santander know the rules why dont you?


#2

Do you really think that Tide have any interest in your post.

I have been pestering the chat app for days and days and days yet the only message I get is the same one everyone is getting.

Tide are just picking out the firms they want to approve and giving them loans and then the rest of us will have to beg for the scraps.

Valentine informed us in her post that they are giving preference to well establish companies only . then companies that have been with tide form the start

This is NOT how they re supposed to do this.

They are breaking the terms of the BBB schemes.

I would suggest anybody whois concerned about Tide to contact the British Business bank and complain ASAP

Also I am sure because of my complaining I will never get a loan form Tide

BTW Valentine I have not broken any of your rules with this post.


#3

I have been with Tide for 4 years, since May 2017 and I have a Founding Member card. But it’s not been my turn for the BBl yet. I am waiting patiently.


#4

Don’t hold your breath… as you might not make it if you do as you will no doubt be waiting for ever for a loan …


#5

There’s a much bigger factor here. Many companies within a sector will employ a finance director who has specialist knowledge of a particular type of business.

Tide needs to be very clear about what the guidelines are and not simply guess.