Bounce Back Loan Lenders will fall into one of several categories when it comes to reporting BBLs to credit reference agencies.
Some BBL lenders that report business loans as part of their business as usual rules will report them.
It is worth pointing out that the Government have told each BBL Lender they must act as they usually do with Bounce Back Loans, so whatever their usual “business as usual” rules are, then that is how they must proceed with logging BBL’s on credit files.
As such, those that don’t log business loans on credit files, as per their business as usual rules, won’t, and some may only report them to one agency, but that credit reference agency may just be one that is not allowed to log business loans. So in such instances a BBL will never be listed anywhere.
If that Lender for example uses TransUnion UK as their sole credit reference agency they report loans to, then this is what that organisation told me:
Sole Traders usually don’t see them on their personal credit files, but they may see them on their Sole Trader file.
That is a file no one usually knows exists and which is hidden away, and you will only find out about via a SAR Experian (pdf file) >https://experian.co.uk/assets/consumer/stat-report/Stat-credit-report-app-non-limited.pdf
So one of the above reasons may just be why you cannot see a BBL on your credit file, either you are looking in the wrong place or they haven’t been reported and will not be.
That may also be the reason why you can still apply for personal credit, loans, credit cards etc. and still get them approved, even if you have defaulted on a BBL.
LTDs tend to see their Company’s BBL on the business credit file.
