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This seems to be another subject all together, not getting any conformation from Tide.
I also sent a number of emails of proof with no conformation they have got them.

The problem I can see is that a number of people would have done the same thing to the same email address so I would guess lot of paperwork has been lost

In regards to your questions I’m sure once tide are satisfied or they have what they need it shouldn’t be a problem.

Good luck again let’s hope we all manage to bounce back

No not a problem, I understand your point of view and it was valid.

Stressful times, I hope you’re right.

Good luck and I hope we all do

think we just have to extend an extra level of patience towards tide & the banks as they are clearly overloaded.

I wish they had put out a form for all interested identifying wether they have recieved any help to date, ie, are workers furloughed, have they already recieved a grant or a loan etc as there are plenty of people in a similar position where by setup last year half a year or almost a full year of turnover but 0 assistance so far… granted everyone should recieve the help eventually but some people may well lose their business while waiting and others are just taking advantage of a 12 month interest free loan.

The scheme runs until November and I’m sure anyone entitled will receive the help needed just some of us are no doubt desperate.

Anyways Fingers crossed.

Yes, i agree it should be shown whether they have had any help so far and prioritise the companies that haven’t had any help to date.
Well I am potentially one that may lose my business or lose customers while waiting but as you say patiences is all we can have at the moment.

I have heard a lot about the big business’s taking advantage of the interest free part but surely if a company has X amount they shouldn’t get the loan or at least shouldn’t be prioritised.

I registetor interest as soon as I got the email witch was end of May I believe and the process from that point seem ok as you can image Tide is very busy but from the point i’m at now everything seems to be on a go slow and hours/day between messages

I registered on the 12th of May and tjey reckpn I’m 28000 in a que they are going through in order of registration lol im a proper ltd company that has banked with them for years lol

I regiatered on the 19th may and am 26,000
What even is this list?!

They are just a bunch of liars, messing about with peoples lively hoods, ive not bothered with any other banks because of every thing they said. And because i registeted straight away i would of exoected it in a timley manner xx

Hi Andy,

I hope everything gets sorted ASAP.
Are you a Sole Trader or a LTD company ?

Regards.

From my partner’s BBL agreement (with NatWest):
On the very first page of it there is a table prominently displaying most important things like amount, interest, repayments, etc. plus this:

Drawdown
The loan will be drawn by a single advance before the date which is 6 months from the date the Bank has signed this agreement

So folks, ONE DRAW ONLY !!!

That makes sense, it’s one draw but that doesn’t mean you need to withdraw it all at once. What should happen is after approval the loan amount will go into your business current account and a seperate loan account will open with negative x amount. But you can do what you want with the amount in your current account, transfer some to your personal account etc but the rest will just sit there. You can maybe confirm that is the case with your partners account?

Hi all,

@Andy1, I know our team has been in touch and that this was resolved on Monday evening. Tide conducts checks on inbound and outbound payments to protect our members as well as the integrity of our payments network. You can find more details about our security here 2. Thanks for your patience, while we were conducting these checks.

In regards to withdrawing the loan - I can confirm that you may only withdraw once. The money will go into your main Tide account straight away.

You may only withdraw once. The money will go into your main Tide account straight away.

In regards to the questions about the documentation needed to get access to BBL - if you are Tide members, we already have information about you and your company which we can use to give you access to a Tide Bounce Back Loan. If we need more information or documents from you before we can give you access to a Bounce Back Loan, we’ll be in touch. If we give you access to a Tide Bounce Back Loan, you’ll have to successfully complete a self-declaration form confirming your eligibility and accept our Bounce Back Loan Terms and Conditions before you can withdraw the funds.

I hope this helps!

Thanks,
Valentine

that’s what I meant. one transfer of the WHOLE loan amount from BBL account to “normal” account then you do with it whatever you want, but people were trying to split that very first transfer (which is not allowed, probably something to do with state aid attached to the loan)

But surely we aren’t the ones doing that? You accept the loan, the funds are relased. You shouldn’t need to literally withdraw it yourself into your main account?

you have to (I suppose it is like that because at this moment your state aid start and government knows exactly how much and when pay it; that first year interest paid by gov is classed as state aid)
just have a look above what Valentine posted:
In regards to withdrawing the loan - I can confirm that you may only withdraw once. The money will go into your main Tide account straight away.

You may only withdraw once. The money will go into your main Tide account straight away.

closed Jun 10, '20