Covid19


#1

I was wondering if you had any more details regarding your application to fund
Coronavirus Business Interruption Loan Scheme

Just before I apply to other lenders

Neil


#2

Hi Neil,

thank you for reaching out.

I am happy to confirm that the British Business Bank (BBB) has listened to the fintech sector, including Tide, and opened up its accreditation process for lenders of the Coronavirus Business Interruption Loan Scheme (CBILS).

We’re still yet to receive a response to our registration of interest but are pushing to get an answer as quickly as possible.

We’ll keep updating our members you via our Coronavirus update and our COVID19 Assistance blog and community categories.


#3

Just seems nonsensical that a licensed bank would even need to APPLY. What for? Banks are there to distribute the money on behalf of the goverment. The key is to get the momey and out and flowing into the economy as fast as possible. Tide knows its customers, has their details and can easily assess loans. And since 80% gov guaranteed, banks can just hold 20% of the Loan in a segregated account, and deploy 80% immediately to the borrowers. Simple and saves time and removes risk from the banks. Surely that is a simple solution ot getting funds out there.


#4

Hi @Jtreacher,

Thanks for your post.

We’re still pressing them to process our application and hope to be able to provide this support as soon as possible.

We’ll give you an update as soon as we can.


#5

Really useful from Tide, or the Community, for some forum to provide ADVICE to people as to how best to work their way through various claims that they may be eligible for. How best to apply, for example for business interuption loan, or self emplyed support Often HOW the application is strucutred and presented is Key, so some portal for advice woudl be most welcome to help people get all they are entitled to