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Bounce Back Loans - Eligibility

Is my business eligible for the Bounce Back Loan Scheme?

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.