Tide Business Loan: Overview, Interest Rate and Fees

Paola Faben Oliveira

Tide offers a range of financial products and services for UK business owners, sole traders and freelancers. While Tide isn’t a bank itself, it works with banking partners to offer current accounts to over 700,000 people and companies - and also offers Tide small business loans¹ through lending partners.

Business loans can offer essential finance for growing businesses which need to invest to expand. This Tide business loan review works through how to apply for a business loan from Tide, as well as where to find crucial information like the Tide business loan interest rate.

Tide business loan

Tide offers business loans through funding partners like the British Business Bank and Funding Circle. You can connect your business bank account to Tide through an open banking app, to securely view and compare the loans you might be eligible for through Tide’s partners. This can be done in a few quick steps:

  1. Download the Tide app or open the Tide desktop site
  2. Navigate to the loan page and click Get Started
  3. Follow the prompts to provide your contact details
  4. Pick the bank you have a business account with, from the dropdown
  5. Log in and authenticate your business bank account following the onscreen instructions
  6. Provide some information about you and your business
  7. You’ll be automatically shown the loan products you might be eligible to apply for

Once you’ve decided which loans might suit your business you can apply through Tide, and may get your loan approved in as little as 24 hours.

To apply for a Tide business loan you must be a UK resident and have a UK registered partnership or limited business. Sole traders can also apply. In all cases you’ll need to provide some personal and company information, and bank statements covering the last 12 months so the lending partners can assess your application.

Key facts about Tide Business loans

Tide offers a selection of different business loans through partner lenders. Loans may be designed for certain business types only - such as start up loans for newer businesses. Other products may be secured or unsecured loan products - to see what’s available and what your business may be eligible for you’ll need to connect your business bank account to Tide to view available products.

🧾 Pre-existing account needed?You need a UK business bank account, but this does not have to be a Tide Business Account
📲 UK customer service?Available
💻 Web-based customer service?Available
⭐ Trustpilot rating4.1 stars out of 5, Great rating²
💰 Interest rateVariable based on credit score and business needs
💸 Loan amountsVariable based on credit score and business needs
📅 Term lengthVariable - up to 15 years is typical
✅ Credit checksCredit checks are required as part of the application

Tide business loans eligibility

There are quite a few different options for Tide business loans, which may have their own specific eligibility requirements.

General eligibility requirements include:

  • You must be resident in the UK
  • You must have a UK registered sole trader, or the owner of a limited company or partnership

Some loans have additional criteria, which you can see by logging into the Tide website or app. Before you start your application you’ll need to gather some information and documents which can include:

  • 12 months of business bank statements
  • Information and documents relating to your business
  • Details of any available collateral
  • Details about any personal debt you may also carry

tide-business loan

Tide business loan interest rate

For most Tide Business loans you’ll need to connect your business bank account to Tide to view individual tailored quotes for rates and fees. Interest, and loan conditions, are variable and may depend on your business creditworthiness and a selection of other factors.

One exception to this is the Tide start up loans which are offered through partnership with the British Business Bank. These government backed loans can be from 500 GBP up to 25,000 GBP, at an interest rate of 6%. Loans must be repaid over a term of 1 to 5 years - and if you’re running a business with others, each co-owner can make an application in their own name, to a maximum of 100,000 GBP in total loans per business³.

To see whether you’re eligible for this loan type you can connect your business bank account to Tide - generally you can apply if your business is under 36 months old, and both you and your company are UK based.

Tide business loan - FAQs

Is Tide bank legit?

Tide is a reliable and safe provider of business accounts, products and services for the UK market. Tide works with over 700,000 individuals and businesses in the UK, and existing customers are pretty enthusiastic about the services on offer. On Trustpilot, for example, Tide has a 4.1 out of 5 star, Great rating, from over 19,000 reviews.

Read more about Tide's safety here.

Is Tide a UK regulated bank?

Tide is not a bank, it’s a financial technology company which is registered and regulated by the UK’s FCS for all the services it provides. Tide works in partnership with select lenders to offer loans and financing securely to UK registered businesses.

Can I get a business loan as a sole trader?

You can apply for a Tide Business loan as a sole trader as long as you’re based in the UK. Once you’ve submitted your application, loans are approved on a case by case basis through Tide’s partner lenders.

Is Tide business bank free?

Business banking and financing services aren’t free to access, but the way that charging works can vary depending on the products and services you need. There will be interest to pay if you take out a Tide Business loan, but the rate that is set can vary depending on the details of your business and the loan itself. To see what it’ll cost you to access business financing through Tide you’ll need to connect your business bank account to view your eligibility for products and services.

Use this guide to Tide Business loans to decide if it’s the right solution for you, to grow your business to the next level.

Sources used in the article:

  1. Tide business loan
  2. Tide - Trustpilot
  3. Tide start up loans

Sources last checked 25/05/2024


*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

Money without borders

Find out more

Tips, news and updates for your location