How can I get a business loan with bad credit?

Firstly, it’s worth checking your credit score by getting copies of your business credit reports. You can review these for any errors and question anything you believe to be inaccurate with the credit agency. The best next step is to start to increase your creditworthiness. This can be done by using a credit card, or opening a line of credit. There are also sources of funding available, such as Start Up loans, which help new businesses with no credit history to fund their growth. Alternatively, equity and grant finance may be available that provide you with business loans based on the potential of your company, rather than your creditworthiness. 

We also offer Tide Credit Builder – designed specifically to help small businesses grow their credit worthiness and open up future options for funding.

• Nature of your business

• The size of your business

• The number and frequency of transactions you undertake with your Tide account

We’re on a mission to help business owners with secure payment acceptance methods. It’s a balancing act though, certain company types are more complex to onboard. We hope to broaden this scope as we grow, but currently, we’re unable to sign up the following types of companies but not limited to:

• Fetish products

• Content: Books, magazines, audio, videos, websites, streaming services and other content formats deemed offensive or of a sexual nature

• Escort services and other services in the adult industry

• Financial service or money service business.

• E-wallet or e-money that can be monetised, re-sold or converted to physical and digital goods and services or otherwise exit the virtual world

• Credit repair and credit protection business

• Buy now pay later / Instalment payment methods

• Bearer share entities and binary options

• Independent or unlicensed financial advisors

• Insurance sales and services (life)

• Money transfer & remittance businesses

• Payroll, invoice & business services

• Provider or seller prepaid access/stored value

• Marketing related services

• Airlines and Cruise Lines

• Cloud storage, VPN, file sharing, (high-risk) cyber lockers

• Animals and wildlife products classified as endangered or protected

• Bail bonds and bankruptcy lawyers

• Bidding fee and penny auctions

• Certain social media business (e.g. click farms)

• Casual dating services

• Direct Marketing – Inbound teleservices, outbound telemarketing and travel-related arrangement services, Insurance services, catalog merchants, door-to-door sales, Multi-level marketing

• Governmental services, such as embassies or consulates

• Hazardous materials (B2B and B2C)

• Intravenous therapy or Medical benefit packages

• Key-entry telecom merchant

• Live-streaming Services with in-app currency and donations

• Mail order spouse or international match-making services

• Pawn shops

• Political, religious or Social Campaigning

• Drugs, and tools specifically intended for the production of drugs, drug paraphernalia, illegal drugs, substances designed to mimic illegal drugs and / or other psychoactive products

• Gambling services

• Products or services specifically offered or intended to be used to create, produce or grow drugs or drug ingredients

• Pharmaceuticals, prescription medicine and medical devices (including animal pharmaceuticals)

• Tobacco, smoking supplies, e-cigarettes, e-liquids, vaping liquid, vaping accessories

• Trade of fireworks, flammable or radioactive materials

• Trade of weapons, ammunition, military arms, explosive devices and firearm parts

• Cryptocurrency exchange

• High-risk securities

• Security brokers /investments of any kind including the purchase of Third-party Payment Processing such as aggregators, digital wallets, Payment Fac, Payment service companies.

• Decryption and descrambler products and services, devices designed to block, jam or interfere with cellular and personal communications