Buisness funding through corona virus


#1

Is Tide a British bank that is going to be offering its clients / customers assistance during the corona virus outbreak?
With the UK government announcing measures of assistance for small businesses, will Tide be assisting with this or must we now all have to return back to the high street banks for this assistance.
I personally would like to stick with Tide as my banking service, however, I also need to be pragmatic with regards the funding now available as I still need to keep my business afloat.


#2

In the Tide Blog they said they were applying to the British Business Bank to be a bank that can distribute Corona rescue money. I assume they will be successful.
Yesterday, the Chancellor said, to Finance Committee, that people could “walk into high street banks to fill out an application” for funding. That will be nonsense. Who is able to “walk into” anywhere. And Gov’t tells us not to. And banks have no time or staff to “process applications”. So I imagine/hope they will just start “distributing money” - with a few broad attempts to stop fraud - but they need to get money out in the community FAST. And have no time for forensic exam of documents etc. So I hope Tide can distribute funds, that it is done online or via an App and process super simple. And I be teh gov’t will write off the 20% part of the loans that is not guaranteeing donw the line anyway. JPT


#3

Hello, we completely understand how hard those times are for the small business owners, which is why have applied for the credit. We will make sure to update our members with any updates on the situation and how we plan to assist our members. Please follow our blog posts for the latest news on the situation: https://www.tide.co/blog/coronavirus/.

We hope that you are all safe.