97% of Tide customers would recommend it to a friend
Does not offer loans for charities
Tide business loans review
Tide uses open banking to offer business loans between £500 to £500,000 between 1 and 72 months.
Tide business loans comparison
Tide business loans
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Tide business loans overview
Founded in 2015, Tide is predominantly a business banking app aimed at small to medium businesses to help manage time and money. However, Tide also offers a variety of business loans and cashflow tools to its customers.
Tide has a platform called Cashflow Insights, which allows you to connect your business bank account to. If you’re in the market for a business loan or other funding solutions, Tide’s Cashflow Insights tool uses open banking to assess your finances and will show you how much you could borrow and what options are available to you.
Quick overview of Tide business loans
| Minimum trading period | 36 months |
|---|---|
| Loan terms | From 1 to 72 months |
| Loan amounts | From £500 to £500,000 |
| Minimum turnover | Not specified |
What business loans does Tide offer?
If you have a business banking account with Tide and are looking for
By using its open banking tool, Tide will then offer you tailored credit options, such as:
- Business loans. Tide offers longer-term business loans with a range of flexible repayment options.
- Start-up loans. For startups, Tide offers UK Government-backed personal loans of up to £25,000 per business owner and access finance of up to £100,000 per business.
- Business cash advances. For a boost of short-term funding, Tide offers business cash advances.
- The Recovery Loan Scheme. Even if you’ve received Bounce Back/Coronavirus Business Interruption Loans, you could access a business loan of up to £350,000 with Tide.
Other types of business loans Tide offers
- Revenue-based finance loans.
- Equity finance.
- Grant funding opportunities.
These products are offered by Tide’s financial partners through the Cashflow Insights platform, and you’ll be told how much you need to pay back and when, if you decide to take out one of these credit solutions.
Key features of Tide business loan
| Loan type | Fixed or variable rate loan |
|---|---|
| Credit limits | £500 to £500,000 |
| Loan terms | 1 month to 72 months |
| Loan rate type | Fixed or variable |
| Personal guarantee | A personal guarantee may be required |
| Go to site More Info |
Pros and cons of Tide business loans
Pros
- Easy onboarding and account management
- Cashflow insights tool
- Flexible plans available
- 24/7 customer support
- FCA and FSCS protected
Cons
- Does not offer loans for charities
- Proof of UK residency required for sole traders and freelancers
- Larger businesses must be registered
- Potential collateral needed
- Subject to credit checks
Tide application process
To apply for a Tide business loan, all you need to do is connect your business bank account to Tide. Tide will then use open banking as a pre-eligibility check to see what loans you are eligible for. This will not have an impact on your credit score.
Once you are connected, you will be able to see your credit options and you can apply. It is always wise to compare all the options available to you before you sign the dotted line.
Typically to apply for a business loan, you will need:
Tide customer reviews
Tide was highly commended in the business loans category of the Finder Customer Satisfaction Awards 2024. An impressive 97% of customers in our survey said they’d recommend the brand to a friend.
One said:” I have never had an issue with them for the 2 years I have been a client and they always have a helpdesk open whenever I need them.”
Another said:”Can’t fault the service, it does what we need (and probably more). Charges could be lower, though.”
Tide, as a whole, has a rating of 4.7 from more than 64,000 reviews in the App Store, while over on Google Play it has a score of 3.5 from around 16,000 reviews (updated January 2024).
On consumer review platform Trustpilot, Tide has recorded 4.3 out of 5 stars and a rating of Excellent, based on over 18,500 reviews (updated January 2024). Many of Tide’s users cited its quick and simple service in their feedback on Trustpilot, although some complained about slow response times when contacting customer support.
Customer support information
You can contact Tide’s customer service team via the Tide app where they’ll answer your question as soon as possible. If you don’t have the app, you can email hello@tide.co with any queries.
Our verdict
Tide could be a great option for small to medium businesses looking to take out a loan. Tide offers flexible plans and has an easy-to-use website where businesses can keep track of their repayments.
The main downside with Tide is that they do not currently offer business loans to charities.
As with other business loan providers, making the committment to get a loan is a big responsibility so it’s best to do some research before deciding which loan is best for you. Luckily, Tide has plenty of options to choose from.
Frequently asked questions
Business loans ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
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