Bounce Back Loans


#1

Please advise - are you currently giving out BBL’s or are you completely out of funds and are waiting for lending to be approved before issuing more?


#2

Personally I don’t think there has been a single loan issued. They haven’t given any precise information about anything. I’ve seen one positive comment saying they had received one across all social media platforms. I’m sorry but given the fact that the statement says they issued 50m which would be 1000 loans at the maximum amount and for one person to say they’ve had it is simply unbelievable. I think it’s about time some honest answers were given by Tide of what is actually going on. Former plus account holder and onboard way before the Virus started. Let down - 100%, angry - 100% . Just want someone to actually be honest from Tide instead of hiding and hoping it will all blow over. Will not use the account again and I have no confidence if anything goes wrong I’ll be able to get it resolved. If money doesn’t start to be issued in large numbers for BBL the tide with be like a dessert.


#3

Thank you for sharing your thoughts here @Newbielee

To answer some of your questions and @CM2020 we have not stopped lending, but in order for us to be able to do so on a scale that appropriately meets the needs of the many eligible members who’ve joined the waiting list, we need to secure considerably more funding.

Arrangements of that type take a lot of time and when we’ve got an update for you, we’ll make sure to announce it as broadly as we can.

Regards,
Obi


#4

Hi Obi.

Where’s the live tracker?

Mid June is what we were told and we have heard nothing regarding it. Not even a reason or apology as to why it’s still not live.

Many thanks.


#5

Hi @Andyp1966

I do agree, we shouldn’t have given even a broad timeline that we couldn’t stick to. I can’t advise on the specifics, but we will address everything BBLS related in more detail when we’re able to.

Regards,
Obi


#6

Hi again Obi.

Thank you for your quick reply.

I really do sympathise with you guys working hard on here and I thank you for it.

That being said I’m sure you can understand why us as customers are angry. We are not being told anything other than to wait.
Tide’s only other advice it to contact another bbl lender even though those at Tide know this is not an option as lenders are not taking on new customers so that’s just an offensive suggestion as like I said “even those at Tide know this is not an option”.

There is a raft of speculation on social media regarding Tide and surely someone at Tide should be confirming or telling us none of it is true.

I really don’t blame you guys on here and I know your doing the best you can in a extremely difficult time but it’s time for definitive explanations as to what’s going on so us as customers know where we stand.
After nearly two months I think we deserve that at the very least.

Again thank you for your hard work and I look forward to your reply.

Many thanks.


#7

Hi again Obi.

Will I get a reply to my earlier post?

Please don’t leave us hanging on for another weekend when we have been given zero information this week so far.

Many thanks.


#8

Hi @Andyp1966

Thanks again for your post, sorry to keep you waiting!

I can’t guarantee that we’ll have a more concrete update for you before the end of the working day, I’m afraid. Terribly sorry to tell you something I’m sure you’ve heard quite a few times by now, but I hope we won’t be keeping you and our other members waiting much longer.

Regards,
Obi


#9

Thank you Obi.

In that case what is the advice Tide gives us?

You know that we can’t apply anywhere else so that’s an end to that.

What is the advice to Tide’s members when Tide is the only avenue we have available to us?

I’m basically asking what does the bank we have trusted our business with advise us to do.

Many thanks.

Andy.


#10

Hi Obi,

Trying to secure funding is one thing, screening your customers and quickly letting people know that they are not eligible is the best thing you can do at this point and its strange that this is not happening.


#11

They have been, loads of people on social media getting messages saying they are not eligible to apply with tide. Ironic really, as they are the same that joined the list Knowing they where not eligible, and then making lots of 1 star reviews saying they had been lied to. (For the benefit of confusion, I’m not saying everyone, just a select few)


#12

I am unclear as to the Social Media messages and also the REASON people are being given that they are not eligible. Surely the eligibility criteria as set out by the BBB for the BBLs is clear. A lot of that is up to the borrower to self-certify, So if the business not formed before March 2020 or was not trading, clearly not elibible. But why does a bank have to advise people?


#13

Good afternoon Obi.

It would be nice to get a reply to my most recent questions on the thread above.

Hope you had a good weekend.

Many thanks.


#14

I honestly dont believe thst tide have issued that many loans. Maybe a handful at most. If they had of done, there would be 50k people replying on here saying they’ve had it and to support the many that are waiting. That in itself is what leads me to doubt.
Even on the Martin Lewis website, he’s complied reviews…where do tide sit??? Hmmmm absolute bottom. Starling are not fairing much better neither. I truely feel we have all been taken for an absolute ride here. Its now july. Been given the repeated speil for weeks/months.
I am not holding my breath. There are people here on this phantom list of around 50k plus. I just cant see tide fulfilling 1% of it.
Its not a rant before tide get the hump. This is fact.


#15

Thank you all for adding your thoughts to the discussion.

We are sticking to the criteria outlined by the BBB in terms of determining who is eligible. We have been taking steps to contact members who have expressed interest, but don’t fit those criteria.

In that sense, we are addressing posts and reviews that are spreading misinformation in terms of what actions we’ve taken and whether we’ve made promises, it’s something we’ve tried to make clear in our updates thus far, that we cannot guarantee that we’ll be able to extend the loan to every eligible member.

And in terms of progress in securing funding, myself and the team are anxious to be able to share something definitive across all of our channels. At this stage, I can only ask for your patience.

Regards,
Obi


#16

Hi again Obi.

I have still not received a reply to my questions above.

It would be great to receive answers to these questions as I’m very much in need of advice.

Many thanks.


#17

Obi, would you care to comment on my post ref “3 different waiting list numbers” and the cumulative dropping of17,000 places? Patience regarding the nuances of securing funding is one thing and I appreciate you have no control over that, but you guys do have accountability ref randomly selecting numbers for wait lists.


#18

Hi there, @Andyp1966

I had taken your post into consideration with my response, but I’m afraid I don’t have anything additional to advise you with, at this stage.

I’ll definitely be looking into that as well, @Chris83 and will reply there as soon as I’m able.

Regards,
Obi


#19

Thanks Obi.

Are you telling me that Tide has no advice whatsoever other than too wait?

Surely that can’t be the case?

Thanks again.


#20