You’re eligible for a Bounce Back Loan if your business:
- is based in the UK
- was established on or before 1 March 2020
- has been negatively affected by coronavirus
- earns 50% or more of its income from trading
- will use the loan money as working capital or to invest in your business
If your business was an ‘undertaking in difficulty’…
You’re eligible if you certify that taking out a Bounce Back Loan won’t breach state aid rules and that you won’t use the loan for export-related activities.
You aren’t eligible if your business is:
- a bank, insurer or reinsurer
(but insurance brokers are eligible)
- a public-sector body
- a state-funded primary or secondary school
- going through a bankruptcy, debt restructuring or liquidation
- receiving or has applied for a Bounce Back Loan from another lender
- already getting a loan from the Coronavirus Business Interruption Loan Scheme.
However, you can take out a Bounce Back Loan and use the money to repay the Business Interruption Loan in full.
To find out if you can access a Bounce Back Loan from Tide, open your Tide app and go to More > Credit > Bounce Back Loan
If you’re interested in taking out a Bounce Back Loan with us and you don’t see it in your app, please join our waiting list.