Bounce Back Loans - Eligibility

Your website said we have to be ‘pre-approved’ for a Tide Bounce Back Loan. What does this mean and why are you no longer using this phrase?

When we launched our Bounce Back Loans, we said that after you registered your interest, you’d get a notification if we were ‘pre-approving’ you for a loan. We decided this was confusing – it’s a phrase we use internally at Tide but it’s not a normal expression that makes sense to everyone – so we stopped using it.

‘Pre-approved’ just means that based on the information we already have about you, we can offer you a loan subject to you successfully completing  the self-certification questions. It’s as straightforward as that. If we need any extra information from you, we’ll be in touch.

Bounce Back Loans from all lenders are self-certifiable – you have to confirm your eligibility for the loan, for example by confirming that your business has been negatively affected by coronavirus.