ANZ and Westpac lead commercial flows, non-banks excel in speed and service

Broker flows

ANZ leads commercial mortgages and business loans, Westpac dominates asset finance

ANZ and NAB are the two most-used commercial lending and business loan lenders throughout July to September 2025. ANZ tops the list for both loan types with 28% of brokers submitting commercial mortgages and 27% for business loans. Meanwhile, Westpac dominates asset finance with 37% of brokers submitting applications to the major bank in the last three months. This concentration reflects the major banks’ continued strength in capturing the commercial mortgages and business loans market.

Major banks top the list for commercial mortgages and business loans, but are subsequently followed by non-bank lenders. For commercial mortgages, Liberty Financial and La Trobe Financial (equally at 13%) outpace even Macquarie Bank (5%). For business loans Shift and Dynamoney (10%) were the most-used. In asset finance, Westpac is the lone major at the top (37%), used by the most number of brokers; followed by Metro Finance (30%), Angle Finance (27%) and Capital Finance (19%) making up the top 4 lenders for the loan type. It demonstrates the strength of non-bank specialists in equipment and vehicle financing. 

Turnaround times

Non-bank lenders outpace majors across commercial, business and asset finance turnaround times

Commercial mortgages

In commercial mortgages, ORDE Financial recorded the fastest turnaround times at an average of 3.6 days throughout the past three months, demonstrating standout performance. Liberty Financial follows with an equally impressive 4.2 days, along with Macquarie Bank with 5.0 days. The major banks’ turnaround times cluster between 6 to 7 days, with ANZ leading the pack at 6.3 days. La Trobe Financial rounds out the comparison with the longest turnaround time at 7.7 days.  

Business loans

For business loans, Lumi and Moula take the top spots with swift 1.5 day turnaround times. Non-bank lenders Prospa (1.6 days), Shift (1.9 days) follow suit with turnaround times under 2 days. Going lower on the list shows a jump between banks and non-banks. Judo Bank is the fastest bank on the list recording 6.4 days, behind ScotPac’s 3.7 days. This likely reflects differences in processing flows, capacity or operational efficiency between traditional banking infrastructure and more streamlined fintech operations.

Asset Finance

Asset finance has the fastest turnaround times among commercial loan types. Thirteen lenders record turnaround times of less than 2 days, led by Angle Finance at 0.9 days. Non-bank lenders Liberty Financial (1 day), Metro Finance (1.1 days), Now Finance (1.1 days) and Capital Finance (1.1 days) take the top 5 spots. The only banks joining these lenders in the below-2 mark are Westpac (1.2 days) and BOQ (2.0 days). Other than Westpac, the rest of the majors join the slow end tail of the list, with ANZ at the bottom with 5.2 days. Specialist asset finance providers appear to have optimised their systems for rapid equipment and vehicle loan approvals.

Broker insights on BDMs and credit teams

ORDE Financial and Bizcap earn 100% BDM satisfaction, non-banks lead broker satisfaction for credit assessment

Non-bank lenders ORDE Financial and Bizcap ranked top in BDM experience with 100% satisfaction over the last three months, outpacing even Macquarie, the only bank scoring above 90% this period. Several non-bank lenders Metro Finance, Now Finance and Liberty Financial scored 93% satisfaction, maintaining consistently high broker relationship quality. Suncorp Bank received high dissatisfaction this period, with only 46% of brokers satisfied with their BDMs.

In credit team satisfaction, Now Finance enjoys the highest ratings at 93%, with Lumi (92%) and OnDeck (92%) following closely. For business banks, Capital Finance (90%) takes the lead, with Macquarie at second place with 88%. The strong performance of non-bank lenders in both BDM and credit assessment satisfaction suggests these lenders are successfully prioritising broker experience as a competitive advantage. On the other hand, Suncorp Bank (54%) and Resimac (50%) credit assessment teams receive low satisfaction scores.

About the report

In October 2025, Broker Pulse launched a new survey format, resulting in increased engagement. This new survey gathered responses from 133 active commercial brokers, collected between the 1st and 25th October 2025. Brokers were asked to share their experiences with the lenders they worked with throughout September, rating them across turnaround time, credit assessment, BDM interactions, and the overall broker journey. 

Broker Pulse is a monthly survey of residential and commercial mortgage lenders conducted by Agile Market Intelligence. It is a community-driven knowledge base of lender performance that offers transparency to the market by surfacing these collective insights from the broker community. This empowers brokers to make informed decisions and enables lenders to benchmark and improve performance.

Participating brokers receive access to a bird’s-eye view of the lender benchmarking data each month. To sign up or for more information visit www.brokerpulse.com.au.