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Valentine and other moderators. I really hope this is false but since the question has been asked I really think it has to be answered by one of you guys straight away. Has Tide had its Bbl accreditation rescinded?

Thanks.

*We are not issuing loans and have no intention of starting. Fixed that for ya :rofl:

The government definitely messed this up.
Where do they expect smaller banks like Tide to get all this money without giving them access to BOE term funding.
All the angry tideans should be directing the anger at the government for not funding these loans.
If the government can find the funds to bail out big corporations, why can’t they give Tide money to help small businesses?

I agree 100% re Gov shoudl give Tide access to FUNDS (not just a guarantee) to let them lend. But to clarify, Tide is NOT a Regulated Bank, hence their inability to borrow from Bank of England

Aye, I bet they would if there was an election next year, they wouldn’t leave 3m without support.

Sadly they are nothing more than talent contest salesmen their agenda is to play chess with their responsibilities to better their positions.

It is the sad state of British (& American) politics at present. They have it even worse over there, the fed print money and give it to each other, it’s incredible & generally people are none the wiser… fed donated $500b to 1 company (paid for with tax eventually ofc) & won’t even declare which company. Nothing shy of daylight robbery.

I disagree that it’s government fault.
In my opinion, the blame is fully on BBB and then Tide. The former shouldn’t have granted accreditation to company without funds, the latter should not have applied for without having funds.

Gov might be responsible (if anything) for not forcing high street banks to open new accounts and distribute BBL money.
I have different political view and in my opinion we all would have been in much much much worse position (probably in deep sh!t mess) should the labour were in power… just my 2cents

Re: waiting for accreditation, bear in mind their customer service is based in Bulgaria - might be simple language misunderstanding issue???

It’s government fault that they don’t grant funds to tide, it’s also government fault that they claim the “pot” is only so big, which just isn’t true & also the government fault there are 18 months of newly self employed without pay, all of that is the government fault, they could sort it out, but they won’t.

Tide are by no means perfect as can clearly be seen but they have lent a potential lifeline to many people, something they didn’t have to do, the fact they cannot borrow from boe therefore it takes longer… is, who’s fault? The governments.

Why?

Because they don’t really care & will view it as Collateral damage.

Also not sure how labour would cause more harm or we would be in deeper s*it ?.. considering the party is built around supporting the working class.

If you look back at national debt since the 2 party’s the conservatives have borrowed far more than labour, labour sadly were in power during the banking crisis so it was easy to point a finger of blame, but the legislation that caused the crisis was written under?

The tories.

One things for sure, they’re good at lying & leading people on.

We best not go down the overly political route :slight_smile: … never a wise move.

Irrelevant of party the fact remains they could pull their finger out their arse but they won’t.

The BBB will follow what laws and requirement are laid down by the exchequer, so the government is at fault. Even though i don’t care about the political aspect of things, but i do believe that we would have been better off had it been a labour government handling things as they seem to care for smaller businesses than the tories. Just my opinion.

Adelie foods with a 500mill revenue - Bust. No govt help 2500 jobs lost.

Chanel private wealthy European owned company (minimum U.K. jobs) - huge uk taxpayer bailout!

Johnson & his cronies will continue to rob us blind don’t worry about that.

Probably about time they bought a new aircraft carrier off their mate or privatise the Royal Mail to UAE @ 30% discount to its true value. Oh wait…

(First post, blimey I must have really got to you.)

cheese and bacon mrchimps… would you like a banana ?

Heard something very disturbing reading a mse article today and that 97% of tide applicants who applied for the bbl schemes have heard nothing back or recieved any funding… very worrying that’s literally 2000 loans paid out out of 75000 members… really don’t think anything going to happen… very sad… I am already shutting my business down now as no hope in the sun for anything… have applied for Hsbc heard nothing… tried to open a account with all other major banks and basically been told to do one… Tide really was my only hope… all my savings gone… had to refund 100s of orders through my business from not trading and lost £1000ss hoping to recieved funding from them has been a big struggle, maybe I should have managed things better but who new we’re would be in lockdown for 4 months at the start of the year. Very depressing but we all got to move on now… if something does happen from tide great but I’m 97% sure nothing will. but I think most of us now should just look to crack on and make the most of what we can do.

Hi there, everybody.

Thank you all for joining the discussion - I know that this has been a very difficult time for many of you.

We are still working on and doing what we can to see the funding secured so we can keep lending at a larger scale than we’ve managed to thus far. We’ll post any announcements across all of our channels when we’re able.

Kind regards,
Obi

closed Jul 3, '20