What is an unsecured loan? How does it differ from a secured loan?

A secured business loan is money borrowed or secured against an asset you already own. This could be something like a car, premises or anything or value that will be used to secure payment to the creditor in the event that you are unable to repay the loan. In contrast, an unsecured business loan doesn’t require you to provide anything as security. Instead, you borrow a lump sum and then pay this back with interest over an agreed timeframe.

• Weak internet connection

  Make sure you have a stable and fast internet connection. (Tip: switch between Wi-Fi and mobile data)

• Poor image quality

  Make the call in a well-lit environment and use a smartphone with a high-quality camera.

• Unsuitable identification documents

  Tide only accepts national ID cards, passports and residence permits. If you use a passport for verification, you must also provide a proof of address (e.g. a utility bill or bank statement).

• Damaged identification documents

  Make sure that your identification document is not damaged.