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I can’t see them raising at the boe they would need a full banking licence which i think unlikely, no doubt would be nice if Boe put legislation in place to make it happen tho as a one off to support the bbl scheme.
Bottom line is trying to sort a deal with a private lender @ hundreds of millions takes time 2+ months imo.
Just the way it is, sadly no amount of posting from us online is going to speed that up.
Just gotta keep the faith
Because they don’t know ? might be later this week, or in 2 weeks or maybe longer… perhaps they thought they were close recently ? Perhaps a lender dropped out ? Perhaps it won’t happen ?
I’m not defending tides confusing lists etc but I can fully see why they can’t put a fixed date on it & why it could take a lot longer than they even envisage.
I dig your frustrations, we’re all in the same boat… end of the day, do all we can, sign up to all banks, try every angle, sign petitions, lobby to mp’s … and if we still end up going down at least we can’t be disappointed with ourselves for not trying our hardest.
Ah Cam. You just reminded me about the lists. On Thursday they said the app tracker would be very soon. It’s now the close of play Monday and nothing. I’m sure you will agree with me that is not what should be called very soon.
Unfortunately Tide are my last angle.
But I agree with you that there is nothing we can do. Especially on here when a single moderator has not been online in the last 3 hours.
I agree, It’s not - but just as with the loans, I’m sure they would prefer to have it all sorted.
They’re not intentionally leading people on to screw them over, they have over promised & under delivered but not intentionally.
My bank haven’t even bothered to try so in my book tide are a cut above that even if so far it’s not gone quite to plan.
They will come through, but let’s face it we need to raise funds, somehow elsewhere to tie us over till then.
I also think people who haven’t received furlough or grants or self employment support WILL get something soon, need to keep putting pressure on the toffs in office.
I really have tried or done all that mate. Started the business last August after 10 years of saving to buy my house outright. Ploughed everything I had into the business which was going so great I moved it to the next level in January. In January I had £67,000 worth of confirmed bookings for the year however since c19 that’s dropped to £49,000 providing I can be back up in business by the end of July.
I won’t have a business but then if I can’t raise £15,000.
I’m in the catering industry so selling my assets won’t help as obviously people are not buying so that leaves me with nothing as all the cash I had has been put into various things for the years future bookings.
Shit yeah. I’m in catering industry too mate, sounds like we are in a very similar position - the only real thing I’ve had to sell is my car which is now gone & also running on fumes I think I can last till august tho and I could possibly take an investor in for a few grand for say a 10% cut on profit moving forward, probably wouldn’t be on the most favourable terms but provided we don’t lose everything I don’t really mind.
I have a horsebox trailer Ive half turned into mobile catering, needs a few more grand on it, everything in place back end wise, licences sorted with council, location etc & even more so now given the “new normal” and so many restaurants hemoraging money I think will absolutely cream it going forward… but - currrently unless I get cash flow nowt is going to come about.
How about remortgage for a very small amount, use it as a bridging loan and pay it off when sorted ?
Where you based mate ?