Update (7 July 2020): We’ve paused lending and our waiting list is currently closed.
The beta-test members who first received Tide Bounce Back Loans were limited companies. When we announced this, we’re sorry if this was confusing and it seemed like we’d offered loans to all limited companies who’d registered. Our small beta-test batch were owners of limited companies who had been Tide members for a while.
Since then, the Government has made changes to the law about Bounce Back Loans so that all accredited lenders can lend to sole traders as well as limited companies. We’re delighted about this update to the rules because we know it’ll help so many of you who’ve told us you’ve ‘fallen down the cracks’ of the support from the Government. We’re now working on making the loans available to our sole trader members as soon as possible.