Boost your growth with Instant Loan

Instant Loan is a one-year loan for Tide members that cover 12 fixed monthly instalments.

In this Help Centre page find out:

How Instant Loan works

The Instant Loan eligibility criteria

Repaying and managing your Instant Loan

What happens if you've missed a repayment

How Instant Loan works

To take an Instant Loan in your app, tap:

Finance > Loans > Pre-qualified offers

Instant Loans > Select Loan amount > View the loan breakdown and confirm

Read and accept your Instant Loan repayment terms including interest

Sign the personal guarantee

Confirm the loan

Once your Instant Loan is approved, we will transfer the amount to your main account instantly. You can start using the money as soon as it appears in your account.

Check your Instant Loan eligibility

We check and update eligibility daily. To determine Instant Loan eligibility, we look at your company credit score, the revenue and turnover paid into your Tide account, and more. To check your eligibility, in your app, tap:

Finance > Loans > Pre-qualified offers > Instant Loans to view your available limit*

* Your credit limits are the amount you can take out, based on your credit eligibility.

If you don't see the Instant Loans option, you're currently not eligible. This may change over time.

⚠️ To have more than one loan at the same time, you should make at least one monthly repayment on the first Instant Loan you took out.

Min and max loan amounts

The minimum amount* you can take out for a single Instant Loan is £1,000. The maximum amount depends on how much of your Tide credit limit is still unused.

*We issue individual Instant Loan offers based on a mix of eligibility criteria.

Repay your Instant Loan

Your monthly repayments start one month later – on the exact date you've taken out the loan. On this fixed due date, we’ll automatically collect the payment from your main Tide account.

Instant Loan interest rate

There’s no subscription fee for using Instant Loan – you’ll only pay the interest rate on the money you borrow. We apply a monthly interest rate of 3.3% to the outstanding amount over 12 months.

A representative example:

You take an assumed unsecured loan* for £2,000.

The annual percentage rate** is 47.6%

The fixed monthly interest rate is 3.3%

Over a 12-month repayment period, you’ll pay back 12 monthly instalments of £204.54 – the total amount payable would be £2,454.47.

* An unsecured loan means you don't have to put up assets (like your house or car) as collateral, even though you are still required to provide a Personal Guarantee.

**Or how much this loan would cost you in a single year.

Your repayment schedule

Before you confirm the loan, we’ll show you the repayment amounts and schedule. You can also see this on your Instant Loan dashboard, tap: Finance > Loans > Instant Loans.

Manage your Instant Loan

Pay your loan early

To pay off your loan early, tap the Support icon in the top-right of your app, and we will assist you further.

View your personal guarantee

A personal guarantee is a legally binding agreement where you as the business owner or director of the company agree to be personally liable for the repayment of the company loan.

Signing a personal guarantee means that if your business becomes unable to pay the monthly instalments, you will take responsibility for repayment of the loan in your personal capacity. View your personal guarantee in-app, tap:

Finance > Loans > Instant Loans > Manage > Personal Guarantee

What to do if you've missed a repayment

If there’s not enough money in your main Tide account on the due date, we’ll attempt to collect the amount from your additional Tide accounts indefinitely. We’ll collect any money you receive until the monthly repayment is settled.

Our Collections team may also email, call or send you an SMS to remind you of the overdue payment.

We report Instant Loan payment history to credit reference agencies. Your business credit score may be affected positively or negatively, depending on whether you make your monthly Instant Loan or other loan repayments on time.

If you’re having concerns about meeting your monthly repayments, please tap Support in the app, or email collections@tide.co to speak to us.

What happens if you miss two or more monthly repayments

We may ask you to pay the full outstanding amount, plus all accrued interest, regardless of how long the repayments are overdue.

Days your Instant Loan is overdue

4 days past the due date

If you have an Additional Account, we’ll also use that account to collect your monthly instalment

8 days past the due date

We’ll give you a 7-day grace period, starting from the repayment due date, and on the 8th day – you’ll start accruing late interest of 3.3% fixed monthly rate

45 days past the due date

In case you didn't reach out, we may forward this to a debt collection agency. We’ll ask you to immediately pay back the rest of the loan, plus any accrued interest