Some thoughts for you here. Tides waitlist will be only around 2% of the SME community.
- HM Treasury is interested in the full macro effects of the BBL. It will not care 1 jot about 2% of that total amount.
You only need look at the new starter furlough campaign or all those who have fallen through the cracks at various stages. HM Treasury is highly unlikely to support Tide with this venture.
- Tide mentions the “future fund” and so do the BBB, however, such a fund is a mix of both public and private capital. It also has the options for equity stakes in those businesses.
Tide is conflating and confusing this, thinking they may be able to get support.
Tide will have known this issue since before accreditation, they will have known their likely lending volumes and demand. Yet they still kept their waitlist open and their accounts opening. This should show us where their priorities lie, it is not “with you” but “with them”.
The very best advice that I can give is get yourself to another bank as swiftly as possible, if Tide eventually come through, great, if not, try every avenue.
So far we know that Tide’s service is shocking. We know that they do not answer our in app messages, they do not have phone lines available. We know that Dr Prill does not communicate directly with his members. We know that their social media teams give out incorrect information.
The only thing holding Tide together at the moment is the fact that we cannot leave. We will eventually all leave, as we know how bad they are.
For now, search elsewhere if you can. There are a few banks offering support. Tide would have been better trying to partner with these, or advising people to leave if possible and go there, providing guidance and support to do so. That would be “standing with us”.
I am sorry for the job that you have to do @Obi_at_Tide. If you want to leave. There is a job here for you. I think you are very good at a thankless task.
It is not the fault of the private or the corporal if the generals are donkey’s.