Bounce Back Loans - How they work

How do Tide’s Bounce Back Loans work?

Update (7 July 2020): We’ve paused lending and our waiting list is currently closed. 

We’re offering loans under the Government’s Bounce Back Loan Scheme. Find out if you match the eligibility criteria here: Bounce Back Loans: Are you eligible?

For the first 12 months, there’s no interest to pay and you won’t have to make any repayments. After that, the interest rate is fixed at 2.5% p.a.

If you’re interested in getting a Bounce Back Loan from us, please register your interest.

We’ll email you to confirm we’ve added you to our list. If or when you can access a Bounce Back Loan from us, we’ll message you again by email or app notification.

To receive the money you must confirm that you’re eligible by signing the declaration and activating your offer. From there, you’ll have six months to withdraw a single amount up to your approved limit.

Important: the maximum you can borrow is 25% of your annual turnover in 2019

If your business was established after 1 January 2019, you should apply the 25% limit to your estimated annual turnover from the date you started your business.

You may only withdraw once. The money will go into your main Tide account straight away.

In your Tide app, you’ll be able to see the details of your Bounce Back Loan, including the date of your first repayment.