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.