Bounce Back Loans Update


This post is helpful, as is Oliver’s post. That said, while I appreciate the point that Tide cannot guarantee a loan to everyone that registers, surely they should be able to guaranttee a loan to all Tide account holders who meet the qualifications for a loan. Accoring to the BBL if a business qualifies, there is money available for a loan. Or am I missing something?


The allocated limit Tide got might be a problem.
If they got for instance £100m and people first on the list ask for £50k each then money will run out quickly (just 2000 applications) and no BBLs for the rest…


I do not understand the point about allocations? This is Goverment (BBB) funding and the banks are just mechanisms for distributing it. Why woudl some banks get more “allocations” than other? Why are there any allocations at all? Surely a bank distributes loans to those that qualify and just keeps drawing down funds from the BBB as needed. Otherwise businesses are prejudiced depending on who they bank with. Banks are just the “taps” of the Goverment “water tank”. Banks are there to do needed checks, undertake paperwork and collect repyments. I keep feeling I am missing something in what shoudl be a very simple operation


After reading Olivers letter, I’ve noticed for the first time a reference to sole traders with respect to BBL which I haven’t seen before and quoted below:

“We understand that there are concerns around sole traders accessing Bounce Back Loans. Recent legal changes mean that we’re now allowed to lend to sole traders and we’re working to make these loans available to our sole trader members as soon as possible.”

Could TIDE please confirm whether there is going to be any any disadvantage for sole trader accounholder gaining access to a bounce back loan as compared to a limited company account?

Also, could you please explain the legal changes which are referenced by the CEO that now allows loans to be made to sole traders?


I think that money comes from banks not from government. Government fully guarantees money if you don’t pay it back so banks won’t lose but money itself is not from government
If bank does not have enough of its own money it can get some from central bank at the rate of 0.35% (or something like that) and sell it to you for 2.5%.
First year of interest is paid by government so you pay 0% (but banks still pocket interest, just not from you).
So, if they get certain allocation it means that government guarantees loans only up to that specified amount.

From Parliament website:
The Chancellor announced the launch of a new “micro loan” scheme providing a “simple, quick, easy solution for those in need of smaller loans”, which he termed “bounce back loans”. These loans would cover 25 per cent of a business’ turnover, up to the £50,000, with the Government guaranteeing 100% of the loan and paying the interest for the first 12 months.


Hey Tide,

If capital is an issue, why lend to new customers and sold traders? Why advertise BBL to new customers?

Can you please focus on existing customer?



Guess it’s the same with any large amount of money in an account longer it sits the more interest they gain of it maybe


Sorry so are we supposed to just sit here waiting until Tide team it necessary to supply us with a loan after they have serviced the preferred clients and the VIP’s… the answer is NO NO… Tide are breaking the terms of the BB rules by selecting specific clients to have the loans.

I am guessing now that we will not have a loan in three weeks or four or five… Tide need to be 100% honest rather than a letter form the Ceo which at best is patronising, as with Dominic Cummings recently it appears there is one rule for the high ups at tide and preferred clients and another rule for the rest of us…


Please also note that if we give you access to Tide Bounce Back Loans, Are you for real ? So I can only apply for the loan if you grant me this? That’s absolutely ridiculous! I decide if I need to loan and that’s why the rules are given by the gov not Tide…you’re selecting who can have access amongst your clients absolutely appalling.


They just appplied to be accredited to offer bounce back loan to add value to TIDE… But they know they cannot deliver… They do not have the capcity.


Hi all,

To confirm we’re considering limited companies and sole traders for Bounce Back Loans and we’re not giving priority for BBL to members on any of our different membership plans (Plus or premium).

I also wanted to let you know that we are working to provide an automated solution for you to see your place on our waiting list as well as provide clearer timelines regarding when you can expect to gain access to 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.



Soooooo, has anybody actually been successful with Tide and getting this bbl? I see a lot of comments saying Tide are working through the list but not a single customer has actually stated they have recieved one.


Providing us with some idea of the timeframe for the delivery of your “automated solution” would be very helpful. After waiting for accreditation then waiting for the BBL to go live, now waiting for the list to find out how long we have to wait for the BBL. Don’t think my mental health can take much more “waiting”.


If Tide can deliver this tool, it would be absolutely amazing. The main problem for Businesses at the moment is Lack of Clarity.



That would be great to have this tool, but… when this tool will be operational?
If today then great, if next month then… well, it is a little pointless in my opinion.

If people have Halifax personal account then they can still open Lloyds business account. Same story is with TSB: if you have personal account then you can apply for TSB business account and still be eligible for BBL from them.
I am only mentioning that because my business associates used both of those avenues only last Thursday / Friday and despite Bank Holiday Monday they both got their BBLs by now (that includes everything in between from opening brand new bank account to actually getting money).
So, if traditional banks can do it why then light, fast and modern bank like Tide can’t?
I suppose I will be switching back to brick and mortar very soon as cannot see any reason to wait anylonger for something which might not materialize. Shame really/

Anyway, when this “waiting list” tool be available, any timeframe please?


All the waiting list stuff is nonsense i asked my position on monday and given an answer …asked again today… and the answer the same … NO LOANS ARE GOING OUT THE DOOR … @Valentine_at_Tide please explain why no loans are being processed???


Hi Valentine, how long is this new process going to take? Thanks


Good morning all,

I am sharing with you my recent correspondence with the Tide team, as I am recommending Tide members to raise and register their concerns about the treatment of Tide members to the Financial Ombudsman Scheme. Other banks have created a fair process of first come first serve on their webpages, so you make an application and each is dealt with in sequence, this is fair. With Tide the management team are preferencing key customers and are prioritising Tide members based upon a preference as decided by Tide management, this is basic discrimination. If a small business is treated unfairly and loses out under the scheme or the business receives no funds because other businesses are prioritised, this raises a claim for compensation with FOS.

What is clear is that this form of business discrimination means that some businesses are treated well and others suffer based on Tide Management preference, the Government Scheme was meant to be fair to all small businesses in need at this time and who qualify.

Tide email:

Further to my previous formal complaints registered with you for each of my 5 company accounts held with you which are not 'adjacent’businesses under the bounce back loan scheme. Despite numerous requests for clarification and an explanation as to why each of my 5 businesses have been discriminated against and are prevented from being able to apply with Tide for a Government Bounce Back Scheme, you have not provided any response, other then to say that I am on a list. So I am today registering 5 individual business complaints to FOS on the basis that your are discriminating against my 5 businesses in preventing them applying for the Government Scheme. It is neither right or fair that you are discriminating and applying discrimination in this manner. Other Banks have made an application available online for completion, this is a fair system, so that first come first serve. Tide on the other hand are acting in a clearly discriminatory manner which preferences other businesses on their portfolio in preference to my businesses, which consequently are suffering due to the lack of cash flow. It is both illegal and against banking rules to openly discriminate in this manner. In addition Tide has stated that funds with Tide may run out from the British Bank and this makes the discrimination more worrying as Tide is deciding which businesses should benefit from the Government Scheme and potentially which businesses should fail, this is unfair and bias. I will be asking FOS to consider compensation for each of my businesses should they fail to receive a Bounce Back Loan from Tide because Tide has chosen to preference other members over my 5 businesses which are suffering due to this discriminatory approach and application of the Government Scheme. The system being operated by Tide is not fair, is not equitable and is discriminatory in application.

It is neither equitable or fair to adopt a process that is discriminatory in application and that disadvantages SME’s which are not considered preferential by Tide management. This is a basic form of discrimination and as such the FOS should consider compensation for those that lose out as a result of the discriminatory application process undertaken.



Dear Tide

The approach that you have undertaken under the Government Scheme is as stated below:

For clarity: this week, we have started to deliver our first batch of Bounce Back Loans.

We’ll further prioritise access to Bounce Back Loans based on the length of time since your business was incorporated and how long you’ve been with Tide.

I know that Tide feel that it is fair to provide Bounce Back Loans on the basis of the length if time since a business was incorporated and how long someone has been with tide, but this is actually discriminatory in approach and application.

All members should have an ‘equal opportunity’ to apply for the Government Bounce Back Loan Scheme as all tide members should always be treated equally and be considered equal in any process undertaken by tide, be that for the Bounce Back Loan Scheme or in regard to any other service provided.

To create a preference based on length of engagement with tide and length of company trading is in very basic terms discriminatory, as tide are making a determination as to who comes first, second and third, this is not what the Government Scheme was intended to achieve, it intended to support all small businesses equally and fairly.

Loans should be offered on the basis of completing an application online and the sequence should eb determined based on who completes and returns it first, second and third.

All tide have achieved here is to alienate the 80% of customers that are not long standing and long term tide members, this just makes all other tide members feel that their membership is not equal and that some tide members are more equal then others. Being transparent about your process does not in fact make it a fair process or an equitable process to all tide members. Tide really should have adopted the first come first serve approach of the major banks on applications.

It is like saying to Tesco customers during Covid 19 that if you have been a clubcard member for the longest and you have spent a lot with us, you can get food first, all other Clubcard customers can be given food in sequence, so some eat well whilst others starve.

In reality the first person to queue at the store should be allowed in first, then second and so on as this is a fair process and avoids discrimination or the charge of discrimination by management making a preference.



A great summary - I have lost all faith in tide now, their handing of this is just terrible, unfair and as you say discriminatory.