Non-banks deliver sub-2-day turnarounds, earn top-10 broker usage positions in commercial lending

The latest Broker Pulse: Commercial Lending report by Agile Market Intelligence reveals insights from our monthly survey of Australia’s commercial brokers and highlights the key lender movements across usage, service, loan processing times and broker experience.

Broker flows

Westpac listed among the top three lenders for commercial, business, and asset finance loans

In the past three months, a significant percentage of brokers have opted to submit applications to the majors for their commercial, business, and asset finance loans. Although majors occupy the top three slots for commercial and business loans, non-bank lenders show fierce competition with many of them occupying spots in the top 10 for each loan type. Asset finance in particular shows the most competitive space for non-bank lenders, with only Westpac making it to the top-3. This reveals that although majors dominate commercial and business loans, non-bank lenders have a significant grip on brokers applying for asset finance loans. 

ANZ was the favored lender for commercial mortgages, having a 27% broker usage. NAB follows at 25%, with Westpac landing third with a score of 22%. For business loans, the four majors had seen the most applications. NAB is the top business lender, with 25% of brokers submitting capital applications to this bank. Westpac and ANZ follow behind at 23% and 21%, respectively. The fourth spot is rounded out by CBA at 13% broker usage. Finally, Westpac is the most used lender by 34% of brokers for asset finance applications. But following close is Angle Finance at 33%, and Metro Finance at 31%. The performance of the latter two implies that, for vehicular and equipment mortgages, the non-bank specialists are particularly popular.

Turnaround times

Macquarie has fastest turnaround time for commercial mortgages, while non-bank lenders top in business loans and asset finances

Commercial mortgages

Macquarie has the most rapid turnaround time for commercial mortgage applications in the past three months, taking 4.3 business days. This mid-tier bank is followed by two non-bank lenders, which are Liberty Financial (4.5 days) and ORDE Financial (5.6). The majors follow suit, having turnaround times ranging between 5 to 7 days. Finally, La Trobe Financial has the slowest processing time, taking 7.2 business days. 

Business loans

For business loans, non-bank lenders outpace the majors in turnaround time. Lumi has the fastest turnaround time of 1.3 days. Prospa and Moula follow suit, both taking 1.6 days to process business loan applications. In comparison, the majors are slower than these non-bank lenders, with ANZ (6.3 days), NAB (7.1 days), and CBA (8.4 days) having the longest turnaround times.

Asset finance

Of the asset finance lenders, non-bank lenders showcased the fastest turnaround times in the past three months. Angle Finance ranks first, taking less than 1 business day to process loan applications. Metro Finance and Capital Finance follow suit, with each having turnaround times of 1 and 1.1 days, respectively. Of the majors, Westpac has the shortest turnaround time, taking 1.4 days. The other three have much slower processing times, with ANZ in particular having the longest turnaround time of 5 days. 

Broker insights on BDMs and credit teams

Mid-tiers and non-bank lenders exceed majors in BDM and credit assessment satisfaction

Mid-tier banks and non-bank lenders showcased the most favorable BDM experience, scoring higher than the majors. Across non-majors, BOQ has 100% BDM satisfaction score, followed by ING and Judo Bank with scores of 92% and 89%, respectively. Three non-bank lenders scored 100%, which are ORDE Financial, Lumi, and Bizcap. By contrast, the highest satisfaction rate achieved by a major bank was Westpac at 83%, with CBA, ANZ, and NAB all scoring less than 80% in broker satisfaction. 

Similarly, mid-tiers and non-bank lenders also scored higher credit assessment satisfaction compared to the majors. Bizcap is the only lender to have scored a 100% satisfaction rate, the highest among the non-bank lenders. This is followed by Metro Finance (94%), Lumi (93%), and OnDeck (93%). Among the non-major banks, Capital Finance has the most satisfactory experience at 91%. BOQ and Macquarie follow suit at 81% and 80%, respectively. As for the majors, Westpac also scored the highest satisfaction rate, with a score of 82%. By comparison, NAB (78%), CBA (70%), and ANZ (66%) scored less than 80% in credit assessment experience.

About the report

In November 2025, Broker Pulse launched a survey which gathered responses from 124 active commercial brokers, collected between the 1st and 25th November 2025. Brokers were asked to share their experiences with the lenders they worked with throughout October, 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.