Foolish as it may be I choose to continue to look at the possibility/opportunity in front of us and as with Almost anything in life, perspective is key.
Tide have clearly fooked this up, plain as day to see, at no fault of their own in many ways (imo), realistically trying to get funding at 2.5% from a private market with both tide & the lender gaining a profit was surely nigh on impossible. The comms and leading people on is inexcusable… but, Equally - absolutely no doubt tide went into this with the best intentions.
Drawing a line under it, we are where we are!
Oliver’s Letter today imo CLEARLY hints that they need help (he certainly isn’t in a position to ask directly) … but perhaps it would be good trying to pursuade the hands of the treasury !!!
He confirmed they are in talks with the treasury.
The British business bank then went on to note the message Tide had written, they have shown acknowledgement, their twatter update they are well aware at the vast amount of people being left out, 84k is no small number of businesses to go down & they acknowledged that changes may happen.
The problem many of us are in is similar, no way of borrowing from a main st bank and starling & tide are in the same boat.
The best possible outcome for anyone still waiting is the treasury lend directly to tide & starling as Oliver hinted at in his letter and that will in turn ensure wether you are 82k on the fooking list or 5k you will get a loan if you are entitled too.
From Oliver’s letter:
“ We’re campaigning for the Government to provide the funding for your Bounce Back Loans
The way the Bounce Back Loan Scheme is set up makes it very easy for banks with large pools of funding available, but not for fintechs like Tide.
Therefore, we’re in conversation with our contacts at HM Treasury about the Government providing the necessary funding for the Scheme directly to lenders, rather than lenders sourcing capital from investors or other financial institutions.
As reported in the press, the Government has been considering this for some time, and there are examples where the Government is directly providing funding for the Coronavirus Business Support (for example, for the Future Fund).
With the “whatever it takes” approach the Chancellor has taken to supporting the economy, we believe this is a good opportunity for the Government to make changes that will significantly benefit our members and the UK economy overall. ”
Still think there is a decent chance imo, can’t hurt in continuing to pile on pressure.
Gl everyone few more sleepless nights left