Pre-qualified business loans: what you need to know

Small businesses shouldn’t have to choose between surviving and thriving. With Tide, you don’t have to. Pre-qualified offers* from our lending partners can provide the quick cash injection your business needs to grow, all while keeping your cash flow stable. 

Here’s everything you need to know about pre-qualified business loans with Tide.

What does pre-qualified mean?

Pre-qualification is an initial step in the loan process where a lender evaluates your financial profile to determine whether you meet certain criteria for a loan. This process typically involves us reviewing key financial metrics, such as business turnover and profitability, on an anonymous basis.

When you’re pre-qualified, it means the lender believes you’re a strong candidate for a loan based on the information available. However, it’s not a guarantee that the loan will be approved – it’s more of an indication of eligibility.

Who can access pre-qualified business loans?

Pre-qualified loans are often available to a wide range of businesses, but certain factors improve eligibility, such as:

• Trading length: Many lenders prefer businesses that have been operating for at least six months to a year
• Revenue: Consistent cash flow and a solid revenue stream increase your chances of qualifying

With Tide’s network of lending partners, small businesses of all shapes and sizes can explore financing options tailored to their specific needs. Pre-qualified offers are available to many businesses, though availability may vary based on individual circumstances.

Does ‘pre-qualified’ mean you will definitely get a loan?

No, pre-qualified doesn’t mean guaranteed. While pre-qualification shows that you meet the basic criteria, the final approval depends on additional checks, including:

• A deeper review of your business finances
• Submission of supporting documents, such as bank statements or tax returns
• Final lender assessment

Think of pre-qualification as a promising first step in the journey to securing funding.

How can a pre-qualified loan help your business?

Pre-qualified loans are especially useful because they save time by giving you clarity on your borrowing power before you start the full application process. Access to quick and flexible funding can be a game-changer for small businesses. A pre-qualified loan can:

• Support growth: Use the funds to invest in equipment, inventory, or marketing
• Stabilise cash flow: Cover operational expenses during slow periods or while waiting for payments from clients
• Seize opportunities: Take advantage of time-sensitive deals or expansion opportunities without worrying about immediate cash constraints

Why choose Tide to get pre-qualified loans?

At Tide, we understand that small businesses are the backbone of the economy, and they should have easy access to grow their businesses. Our platform connects you with pre-qualified offers* from our lending partners, giving you a faster, more transparent way to secure funding.

Invest in your growth with confidence, knowing that the right tools and resources are at your fingertips.

How can I see if I’m eligible for a pre-qualified loan?

Login to your Tide account by checking the Finance tab which will show you what pre-qualified offers you have available to you. If you don’t have a Tide account, sign up for free to access banking, finance features and more.

*Your application may still be declined after our partners have completed their full checks.

Apply for a pre-qualified loan 

Applying is quick and easy with the Tide app. Apply via the Finance tab and you could potentially be approved within 24 hours. 

Head over to your Tide app to check out your finance options in the Finance tab!