Business Loans (bounce back) - will it show on credit report if defaulted?

FRMH

Hi - I'm a director in a company and received a bounce back loan. As I am in the UK under a spouse visa with a renewal due every 2.5 years I want to know in the event the business fails or I default on the bounce back loan will that show up on a credit check the home office carries out ? 
Is there anyway I can check this for myself via Experian etc but I think thats for a personal credit report will it show my business loan or do I check the commercial credit report somehow ?
Any help would be greatly appreciated!
Thanks

Brock_and_Roll

Was it a limited company that got the BBL?
Have you given any personal guarantees to the bank?

bengalknights

It will be on the limited companys credit record as defaulting.

FRMH

I’ve obtained the company credit report and the loan is not on there as of now. Having spoken to a few people who have enquired this issue, their banks have suggested the loan will go on the credit report 12 months after the BBL was issued ie once the repayments start.

Lloyds bank have confirmed on the phone they will ‘pursue’ the new director if bank account is transferred to the new director once they pass the checks but im still not sure which director would be responsible on the credit report should their be a default. The original one who took out the BBL or the new director taking over the company.

Grumpy_chap

Is the OP equating "Director" with "Owner"?  If so, why would anyone take over the company if it is in such poor state that default on the BBLS is likely?

sukhshant

I took BBL to start from 6th May and have opted for Payment holiday for 6 months from Barclays. I was applying for OD on HSBC it asked Does you business have any borrowing like loan, mortgages or credit card. Do i have to mention Yes stating BBL or can I say No borrowing ad the BBL has not yet started and we may pay up

[Deleted User]

It's yes, as you have a BBL.

Thrugelmir

sukhshant said:

I took BBL to start from 6th May and have opted for Payment holiday for 6 months from Barclays. I was applying for OD on HSBC it asked Does you business have any borrowing like loan, mortgages or credit card. Do i have to mention Yes stating BBL or can I say No borrowing ad the BBL has not yet started and we may pay up

BBL is a loan. 

Grumpy_chap

sukhshant said:

HSBC asked Does you business have any borrowing like loan, mortgages or credit card. 

The clue is in the name:
BBL = Bounce Back Loan

macman

The fact that you are currently getting a year's interest -free BBL doesn't mean that it isn't a loan: the debt existed from the day the BBL was paid into your account.