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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. 

  • Faster Payments These are generally processed immediately and the money will arrive in your account within minutes. Some banks can take up to two hours to process Faster Payments so they might take longer to arrive.

  • Bacs If you’re expecting a Bacs transfer, it will take up to three days for the money to arrive in your account.

  • CHAPS CHAPS stands for Clearing House Automated Payment System. These payments are usually for high-value transactions like buying a property or car. When we receive a CHAPS payment before 3pm, it will arrive in your account on the same working day between 4:10pm and 7:10pm.

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

If you're expecting a payment and the money hasn't arrived within these timescales, let us know and we'll do our best to help. In the app, go to Support to send us a message.

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