Tide what is the update from the treasury?
Ive asked this and all i got was the normal copy and paste answer saying they are in talks but nothing will happen overnight,so if your in need of a loan asap look elsewhere basically
Thanks for reaching out.
We’re working hard behind the scenes, but as we have explained, the scheme isn’t set up for businesses like ours to lend at scale. If/when the government is able to amend the scheme as required, it’ll allow us to get the funding we need to restart delivering BBL.
In the meantime, if you urgently need a loan, please do consider signing up or applying for a loan with another accredited lender.
Could you explain in a bit more detail what working hard behind the scenes entails?
For example, has Tide engaged any outside lobbying firms to assist with its press for the desired changes?
Having e-mailed Dr.Prill and Mr Krieger, no response has been forthcoming to our offer of assistance in this matter.
There has however been a host and flurry of “deadcat” announcements about Mastercard, ID firms etc. Naturally it is clear why this is occuring.
What actions has Tide actually taken?
With all due respect… your PR team needs a speaking to. You can’t just keep copying and pasting from the same document, otherwise you’re just like all the big four and loose you ability to be personal and relational to you client base. Can we have a response with some empathy and your own words? Even if its just to say that you don’t have an full update But so far you have … Also with the other lenders not opening account or entering new customer, the last sentence is slightly insulting and give the idea that we should have gone with another bank from the start.
We have a dedicated team that has been dealing exclusively, and continues to deal with the BBL process. They have been working around the clock, exploring every available option. The only option we are now left with to restart lending through BBLS is, as we mentioned, for the Treasury to amend the scheme to allow direct funding. We are getting all the support we can to try to get a positive outcome, however, I’m afraid that I cannot provide you with further updates right now. Be assured that when an update is available, all of our members will be notified accordingly!
In the meantime, we continue to support our SME community with our banking services and business advice, hence, all the announcements that have been made.