The 22-year old will spend the next three months with the Trotters and his arrival has delighted manager Dougie Freedman who pursued the player when he was at the helm at Crystal Palace.
"We have worked very hard on this one and he has had half a dozen teams to pick from," Freedman said.
"I'm very pleased he's coming to us, and not I would like to point out, for money reasons. The kid feels this is where he would like to better himself.
"I have been after Craig for a few months, to be honest. And it's paid off."