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Something happened to my post which got truncated. My point is that one can borrow up to 25% of Turnover, not 25% of profit. The whole point of BBL is that the borrower self certifies so the lending bank only has to do KYC and AML checks but not any credit or other check. That said, one needs to only borrow what is needed to get through Covid, have a clear plan for paying it back and really make the loan work. Although the interest rate is low, it is till there. It woudl be a shame to get through Covid only to fall later as you cannot pay the loan back.

I have just seen Tide Twitter post saying that “to use our best abilities we are contacting people manually”. Surely not? Tide is an online business so it needs to play to its strengths - which must be online. I just do not understnd why they do not have a SIMPLE online form (like other banks). You compelte it, certify it and send it off. Someone reviews it (KYC and AML etc) and then approved transfers the funds. Why is Tide making it any more commplicated than that? It would really helpf if it was CLEARLY EXPLAINED why Tide are going down this route?

Because they will not start earning until after 12 months, Why applied to be accredited anyway if you cannot deliver the LOAN. LOL. they just want to be accredited ,additional portfolio for the company.

I thought that the Gov pays interest in year one and also gov pays any fees. So the lenders DO earn from year one. There is something going on with Tide that is just not being disclosed. The basic issue is WILL everyone whose business qualifies and banks with Tide get a BBL? If not, then they need to tell people so businesses can apply elsewhere. If everyone WILL get a BBL then some idea of the timeframe appreciated. Also, some background as to WHY the delay. Other institutions giving loans so what is the real issue with Tide?

Hi all,

@parot to answer you first point, please find below more information:

You can borrow from £2,000 up to 25% of your annual turnover in 2019, up to a maximum of £50,000 for up to six years.

For the first 12 months, you won’t pay any interest because the Government will pay it for you. You also won’t have to make any repayments in the first 12 months. There are no fees on a Bounce Back Loan – unlike other loans, you won’t pay fees to arrange the loan, to repay it early or if your repayments are overdue.

For the rest of the term of the loans, you’ll pay interest at 2.5% per year.

Bounce Back Loans are delivered only by lenders accredited by the British Business Bank 2. The Government provides a 100% guarantee to lenders for all eligible Bounce Back Loans, but you remain liable for all the repayments, as well as the interest after the first year.

As @Jtreacher highlighted, to get a Bounce Back Loan, a business owner must self-certify that they’re eligible. You can check your eligibility here:
Tide | FAQ: Is my business eligible for the Bounce Back Loan Scheme? 4

Lenders also carry out ‘Know Your Customer’ (KYC) and fraud checks. We do many of these checks when you join Tide so for most members, you’ll just need to successfully complete the self-certification, which requires you to confirm some facts about your business.

@Jtreacher we only contact our members online via our secured in-app chat or email.

Over 40,000 businesses joined our waiting list in a matter of days. As you can imagine, we can’t immediately offer Bounce Back Loans to this number of you at once, so we’re taking a phased approach to lending to ensure compliance with the scheme rules, a smooth process and repayment of the loans.

We’re now working through our waiting list as quickly as we can. Unfortunately, we still can’t guarantee everyone who registers will be able to get a loan from us but we’re working hard to make the loans available to as many of you as possible, as well as providing more clarity on timelines.

We believe that over the upcoming days and weeks we’ll be able to issue substantial volumes of Bounce Back Loans to our members.

If you’ve already joined our waiting list, if/when you can access a Bounce Back Loan from us, we’ll send you an email or app notification to let you know that your offer is ready and what you need to do to take up the offer.

I hope this answers all your questions.


Every where you go, they are prioritising their existing customers first. If Tide value their customers who have been with Tide until the initiation of the BBL, should they not have been served first before opening the doors for new customers??

Hi all,

I wanted to let you know that we are working to provide an automated solution for you to see your place on our waiting list as well as provide clearer timelines regarding when you can expect to gain access to a Bounce Back Loan with Tide.

I hope this helps.


It will be better if Tide can’t offer this loan to everyone that they stop admitting new members and focus on the ones they have. Surely this scenario will affect Tides relationship with existing customers. Except if there is something to this we don’t know. If Tide want to use the opportunity to get new customers then they should have the financial prowess to do that. Members have been waiting for weeks and I have not seen any member who can say they have received the Loan. Stop accepting new entries /members and Focus on your members like every other lenders. Santander, Tsb, Natwest and all the major Street banks are giving out the loan within hours of applying from members. Tide should be doing the same.

Hi @Tobest,

The Bounce Back Loan Scheme is a Government initiative open to all eligible small businesses . We believe it isn’t fair to discriminate against new customers so that’s why any small business owner can still apply for an account with us, and if they wish, register their interest in getting a Tide Bounce Back Loan.

That said, almost 90% of the businesses on our waiting list are existing rather than new members.

For roll-out after beta-testing, we reviewed various options and concluded that the fair thing to do is to operate on a first-come first-served basis: we’re assessing registrants according to when you registered on the waiting list.

We’re working hard to get through the list as fast as we can and we’ll contact you when you can access a Bounce Back Loan. We’ll also let you know if you’re not eligible.

As I explained above, we’re building an online tracker so you’ll be able to easily review your status. We need to build and test this tracker system and we hope it will be live before mid June.

Thanks for your patience,

But do you need to wait fo the tracker to lbe live before distributing loans? Surely you can start that immediately?

Yeah right! Meesage in aPP no response. Im asking what position im on got no repsonse… but you are very responsive in TRUST PILOT review. even flagging. reporting the negative review.

Thanks for the reply. I currently cannot login to my business account. I have payment to make today and I can not login. I installed the app on my new phone and tried logging in. I was told to provide the email registered with my account which I did. And they wanted some photo identification for account recovery for some reason. I did not lost any account information I did not understand why. I provided the I D and I was told it is being checked and will get back to me since yesterday. For goodness sake I already have an account. I was not even ask to put my password to login to my account. This is not a good experience at all. Please I need to make a payment from my account this afternoon and is very important.

Its an absolute joke you wouldn’t pass all your important personal information to a stranger on your local high street but we are with tide and getting no response at all very unprofessional has anyone contacted financial ombudsman? Re giving out details

working through the list fast well at least communicate with folks who dont even know what stage we are at

Hi @Tobest,

When logging in to your account on a new phone, we ask you to complete a quick account recovery process to verify your identity again for security purposes.

I believe this is now all sorted but please don’t hesitate to let me know if you are still having trouble accessing your account.


Hi all,

@Jtreacher, we’re going through the waiting list to distribute the loans. The online tracker is a separate tool designed to allow you to easily review your status.

@parot we’ve been letting people know their place on the list, however this is a manual short-term solution and many of you have been asking for daily updates. This is causing delays in our response times and creating frustrations.
You’ll soon be able to check your status with our tracker so it would be helpful if our members could support us by messaging only with queries about using your Tide account or withdrawing your loan when we’ve offered one to you.

@bigtexlonghorn you can ask for your position on the waiting list via the in-app chat, but as pointed above, we’re receiving a high volume of messages at the moments in regards to BBL which is causing delays in our replies.
The waiting list works like a queue, everyone who registers is listed in the order you signed up. We’re working hard to get through the list as fast as we can and we’ll contact you when you can access a Bounce Back Loan. We’ll also let you know if you’re not eligible.

I hope this helps.

You can find our latest BBL information here 6.


closed Jun 3, '20