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It must be to do with their pre-approved way of doing things. So Tide does a background check of you for you to be pre-approved when it is your time to apply. Make sense? But it should NOT be like that. It’s simply the Tide’s way of trying to be smart

2.2. The total principal amount of the Bounce Back Loan shall be determined by Tide
Capital in its sole and absolute discretion and will be communicated to you via the Tide Platform

As per rules it’s up to a borrower to indicate how much he wish to borrow up to 25% of a turnover.

Tide simply planned to offer some random pre approved amounts?

2.7. Tide Capital’s obligation to grant you a Bounce Back Loan is subject to the following
conditions being met by you:
a) the Drawdown Request is properly submitted by you within the Availability
Period; and
b) you are not in breach of any representations and warranties set out in Clause 7.

  1. Your Representations and Warranties

d) your business, your business’s and your directors’ credit scores have not
materially changed since the date you entered into these BBL Terms;

i) you are not aware, or could not reasonably be expected to be aware, of any
circumstances that would adversely affect your business’ or your directors’
credit scores.

These BBL Terms including the Final Offer and the Repayment Schedule are the
complete and exclusive statement regarding the subject matter of these BBL Terms
and supersede all prior agreements, understandings and communications, oral or
written, between the parties regarding the subject matter of these BBL Terms.

Many business and directors credit scores could change and BBL scheme addressed that matter by making its clear that BBL applications are not to be credit scored and a self certified statement is all that is required. It also allows to lend to businesses in difficulty as per EU Temporary Framework 3rd amendment.

I suggest without any delay to consult a lawyer to outline in which way TIDE actions caused damages to TIDE members and whether a breach of any applicable legislation have occurred.

Of course some peoples credit scores are going to change in the length of time spent on the list! Most have run out of funds and are missing payments which is the whole point of applying for the BBL in the first place. I cant see why that was added to their terms.
And credit scoring isnt allowed anyway


Event hosted by Rishi Sunak. Perhaps we can direct attention to both Tide breaching the spirit of BBLS and potential remedy - it should be Tide agreeing in a very simple transparent terms to issue BBL to an entire waiting list at least in exchange for a Government or Government facilitated funds.

Rishi Sunak BBL offer is using most of the EU temporary framework legal relief for SMEs.

Mate with respect the government have 3m people chasing them for no support & clearly, this far couldn’t give a hoot about tide.

Banks can put in whatever terms they see fit, read the bbl terms on the british business bank website… banks can set out their own terms, they are private companies.

Why do you think all of us have t gone to Hsbc ?

Have tide changed the terms recently ? I’ve never seen those clauses before.

d) your business, your business’s and your directors’ credit scores have not
materially changed since the date you entered into these BBL Terms;

@Obi_at_Tide as per note above, “the date you entered into these terms” is that when you join the list or when you get offered a loan ?

Out of interest where are people upto with HSBC application for feeder account? I have verified address with code and provided signature specimen in branch today. Anyone aware of timescales from hereon in?

Yes https://ec.europa.eu/competition/state_aid/what_is_new/TF_consolidated_version_amended_3_april_8_may_and_29_june_2020_en.pdf 1

Does not directly say that government can mandate banks to issue BBLs to every business that meets scheme eligibility.

It does provide various solutions. One of them is repayable loan. Government can create a government tasked with issuing BBLs to every business that is qualified as per EU temporary framework criteria and related UK support measure as approved by EU commission.

Tide potentially can try and present themselves as a financial intermediary who can be tasked with it however looking at their current terms and conditions it does seems that they not willing to comply in full and therefore TIDE could be bypassed and if there have been any breaches of GDPR fined.

Unless Tide Ceo states irrevocably in writing now that they voluntary resign their right to add extra conditions and will apply the minimum qualifying conditions and will lend to entire waiting list whom their qualified already via KYC and AML on account opening, lend to a degree specified by applicant such as 25% of the turnover.

    Limited amounts of aid
  2. Beyond the existing possibilities based on Article 107(3)© TFEU, temporary limited
    amounts of aid to undertakings that find themselves facing a sudden shortage or even
    unavailability of liquidity can be an appropriate, necessary and targeted solution during
    the current circumstances.
  3. The Commission will consider such State aid compatible with the internal market on the
    basis of Article 107(3)(b) TFEU, provided that all the following conditions are met (the
    specific provisions for the primary agriculture, the fishery and aquaculture sectors are
    set out in point 23):
    a. The overall aid does not exceed EUR 800 000 per undertaking. The aid may be
    granted in the form of direct grants, tax and payment advantages or other forms
    such as repayable advances, guarantees, loans and equity provided the total
    nominal value of such measures remains below the overall cap of EUR 800 000 per
    undertaking; all figures used must be gross, that is, before any deduction of tax or
    other charge;
    b. the aid is granted on the basis of a scheme with an estimated budget;
    c. Aid may not be granted to undertakings that were already in difficulty (within the
    meaning of the General Block Exemption Regulation16) on 31 December 2019;
    c.bis In derogation to the above, aid can be granted to micro or small enterprises (within
    the meaning of Annex I of the General Block Exemption Regulation) that were
    already in difficulty on 31 December 2019 provided that they are not subject to
    collective insolvency procedure under national law, and that they have not received
    rescue aid or restructuring aid.

There are other legal measures provided by EU commission that UK government can use to ensure that BBLs are distributed to every eligible business interested in having one.

Kindly read information in the following link and accompanying information.

Sam the government have broken EU laws multiple times, although we are technically still members the fact the date has passed for revoking and unless we are going to go to war for it it doesn’t mean anything.

“Brussels officials have started legal action against Britain for ignoring freedom of movement rules during the Brexit transition period - on the same day as the European Union’s top court found the UK had handed City traders an illegal tax break. “ and you think they care about us or tide?

The conservatives are writing the rules now.

I honestly thinking you’re flogging a dead horse here mate I understand we all want same objective but imo your energy is best spent lobbying and some trust towards tide.

Disclaimer: all political views are my own and not the views of Tide or any other member of Tide, not everyone refers to conservatives as cons or thinks brexit will be a trainwreck. I do not enforce others views nor expect others mine nor do people have to read them.

Hsbc after signiture verifying code etc all done. Took about 3 to 4 weeks to get feeder account open. Once opened look on your online portal as didn’t get an email telling me feeder account open.
You will need the feeder sort code and account which is on the portal then click on link for bbl. 2 weeks on after bbl application and uploading tax return. I’m still waiting to hear back. But got a funny feeling tide has turned us all over so will update when I get news from hsbc

Thanks for that skcollob. Strange about uploading tax return though as not one person i know who has received a bbl has needed to do this. A friend with Natwest applied in the morning, completed the self certification in afternoon and had money next day.
Fingers crossed though as last hope. Cheers again

Tax return is because I bank with nationwide and tide. For new account ie feeder account as a sole trader wanted to prove what money I was asking for coincided with the tax return

Oh ok. Is it different for limited companies? Just want to make sure im prepared haha. Cheers

Yes also delays it as it has to be looked at by a human apparently…
I know some people from the start of bbls. Getting higher amounts than they should of done. Being Ltd company’s and with there own bank. Good luck

Thanks mate. I know a few people who didnt even know about it or need it and took much more than necessary. If im successful within the next month i should be fine, good luck to you too

Thank you for raising this query with us @Jtreacher and @Oscarsadie1. To follow on from my colleague Obi’s point: the BBB requested that Tide, along with all other BBL lenders, provide the BBB with information on the application status of, any member who (a) joined the BBL loan waiting list, (b) was approved for a BBL or © received a BBL from Tide. The BBB allowed all lenders to cross-check their BBL applicants against this database. This was done on an anonymised basis, i.e. a BBL lender was able to check whether a specific BBL applicant was waitlisted, applied for, was approved for or received a BBL from another lender, but was not told which other lender this was.

This system is for the purpose of preventing duplicate BBL and fraud. It was then up to each prospective BBL lender to decide whether to accept or reject an applicant based on their ‘waitlisted’ status with another BBL lender. We understand from feedback we have received from members there is at least one BBL lender who has chosen to reject applications from members who were waitlisted by Tide.

We’ve spoken with the BBB and the status of any Tide ‘waitlisted’; or eligible member who did not activate their BBL is now showing as ‘not progressing’; (as of Monday 13th July) which should make clear to other lenders that such members will not receive a Tide BBL loan as part of this cycle. If a prospective lender needs further confirmation that you have not received a BBL loan from Tide, please reach out in app and we’ll gladly provide this.

Our privacy policy (which was shared with each member as part of their account opening and, again, when registering for the waiting list) sets out how Tide uses members’ personal data and provides that Tide will, where necessary, disclose certain information to e.g. legal or other official bodies, as well as fraud prevention agencies and third-party companies to help prevent, detect and prosecute unlawful acts, money laundering or fraudulent behaviour. The disclosures to the BBB fall within the uses set out in our privacy policy. .

@ScottTaxi @Marc1 @jadexco @sami22 we want to reassure you that Tide did not run any credit checks on waitlisted members or those who took out a BBL. Please see above for information about disclosures we were required to make to the BBB, which explains why other BBLS lenders were aware of companies’ BBL application status.

@Cam, ‘the date you entered into these terms’ refers to the date you ‘activate’ your Tide BBL through the app (i.e. the date you accept the BBL T&Cs). However, please see our response to @ScottTaxi above - we did not conduct credit checks on any members who were waitlisted for or received a Tide BBL.

There is a difference between an EU body slowly taking action and a large number of local people calling MPs.

I would say again unless Tide specifies clearly that they will not apply any of their own conditions it may be better to lobby Gov to distribute BBLs via a government org. The scheme approved by EU commission allows that.

More on Tide

Tide has declined 29% of the applications when it was issuing the loans.

The Eu arnt going to take action @sami22 we’ve as good as already left the Eu mate & no one seemingly seems to care about us.

That article for me really just highlights the difficulties Tide have faced securing funds & the fact so many people have been trying it on.

Lloyd’s clawed back a large % if initial loans taken out due to people trying to backdoor through Halifax, similarly there will be plenty of Ltd’s that have never been used and no intentions of being used on the same tip.

Read @Ali-C_at_Tide s post above, they’ve never credit checked and are sticking to the terms of the bbb.

My credit rating went up 124 points since last month, I’ve Absolutely no idea why, all I’ve done is open bank accounts lol