Great question! The Bounce Back Loan Scheme is 100% guaranteed by the Government. ‘Guaranteed’ means that if the lender doesn’t collect the loan, then the Government has to reimburse the lender. It doesn’t mean the money is given to lenders by the Government.
All loans that we provide through the Bounce Back Loan Scheme are funded by Tide and not the Government. This means we have to raise the money we lend through the Bounce Back Loan Scheme. Because the Government guarantees the loans, they need to have control over how much all accredited lenders are lending.