Can business loans affect my business credit score?

Yes, when you apply for a business loan, a credit check will usually be run with Credit Reference agencies. If you submit multiple business loan applications, then this can send negative signals that your business may be in trouble and this can in turn have a negative impact on your credit score. With Tide Business Loans, pre-eligibility checks are carried out before you apply. This can reduce the likelihood of your application being rejected and adversely affecting your credit score.

Other ways in which a business loan can influence your credit score include if you default or fail to make repayments on time. However, using credit wisely and ensuring you always pay on time will help to grow your business credit score.hello@tide.co. 

In-app and email conversations won’t normally be shared with other team members, unless their access level permits this, and it relates specifically to the resolution of their query. 

Example: if two separate Admins contact support about an issue with the same payment, Tide will provide them both with an update, as they can both see the payment in the app. The update may include progress made from conversations with other lower-level team members or other Admins.