Tide business loans review

Tide uses open banking to offer business loans between £500 to £500,000 between 1 and 72 months.

4.4 ★★★★★ (26 reviews) Write a review
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97% of Tide customers would recommend it to a friend
Does not offer loans for charities

Tide business loans comparison

Tide business loans

1 - 2 of 2
Name Product Finder Score Loan type Loan amounts Loan terms Turnover/trading criteria Key benefit
Tide Start-up Loan
Finder Award
Tide Start-up Loan
Finder score
★★★★★
Fixed rate loan
£500 to £100,000
12 to 60 months
No specified minimum turnover,
maximum 36 months trading
Connect your business bank account and gain access to business loans (Terms & Conditions apply).
6% APR representative (fixed).
Tide Business Loan
Finder Award
Tide Business Loan
Finder score
★★★★★
Fixed or variable rate loan
£500 to £500,000
1 month to 72 months
No specified minimum turnover or time trading
Connect your business bank account and gain access to business loans (Terms & Conditions apply).
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Other popular business loans

Name Product Finder Score Loan type Loan amounts Loan terms Turnover/trading criteria Key benefit
Funding Options Unsecured Loan
Finder score
★★★★★
Unsecured loan
£1,000 to £15,000,000
12 to 72 months
£5,000 per month minimum turnover,
minimum 6 months trading
Representative example: Borrow £50,000 over 24 months at a rate of 7.63% APR. Monthly repayment of £2,252.94 and the total amount payable is £54,070.56.
Nest Unsecured Business Loan
Finder score
★★★★★
Fixed rate Unsecured loan
£10,000 to £5,000,000
6 to 120 months
£200,000 minimum turnover,
minimum 12 months trading
Starling Bank Fixed Rate Business Loan
Finder score
★★★★★
Fixed rate Secured loan
£25,001 to £250,000
12 to 72 months
No specified minimum turnover,
minimum 24 months trading
Funding Circle Unsecured Business Loan
Finder score
★★★★★
Fixed rate Unsecured Line of credit loan
£10,000 to £500,000
6 to 72 months
No specified minimum turnover,
minimum 2 years trading
Fleximize
Finder score
★★★★★
Fixed or variable rate Unsecured loan
£5,000 to £500,000
3 to 48 months
No specified minimum turnover or time trading
Representative example: Borrow £15,000 over 18 months at a rate of 40.8% APR. Monthly repayment of £1,080.67 and the total amount payable is £19,452.06.

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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 typeFixed or variable rate loan
Credit limits£500 to £500,000
Loan terms1 month to 72 months
Loan rate typeFixed or variable
Personal guaranteeA personal guarantee may be required
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:

  • Your credit score in order to check your credit worthiness
  • General information about your business e.g. minimum trading
  • Annual revenue, including net operating income
  • Potential collateral
  • Personal debt-to-credit-ratio
  • 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

    Loans for your business needs

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