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Agile Market Intelligence’s latest Broker Pulse: Commercial Lending research revealed that business loans, commercial mortgages, and equipment finance have reported strong growth expectations throughout the first half of 2025.
Commercial mortgage sentiment climbed dramatically. Mid-2024 reported a low of +16. This has since jumped to +54 as of April 2025. There was a 21-point jump between March and April alone.
Negative sentiment around commercial mortgages has remained subdued. Just 4 per cent of respondents expected a decrease in activity in May.
The COVID-19 pandemic had adverse effects on the commercial mortgage market. However, these trends showed a renewed confidence in the sector.
“Commercial property is cyclical but brokers are clearly seeing signs of movement. A more stable rate environment may be unlocking previously stalled deals,” commented Agile Market Intelligence director Michael Johnson.
Net demand index for business loans reached +57 in April 2025, its highest level recorded.
Expectations for increased business lending demand have remained above 50 per cent since November last year. Less than 3 per cent of commercial finance brokers have anticipated a decrease since mid-2024 and just 1 per cent anticipated a decrease in May.
Johnson said the uplift in demand for working capital and short-term funding speaks to the growth plans of SMEs. Many are taking a proactive approach, rather than the reactive trends of the past.
The equipment finance index rose from +13 in July 2024 to +48 in May 2025. While growth was strong, more brokers anticipate declines in this category, averaging around 15 per cent.
Growth across the board is expected, as Johnson said equipment finance is usually the first to move before investment activity picks up.
“The category’s faster growth trajectory may reflect easing supply constraints, fleet upgrades, or broader digital transformation efforts,” he said.
The results of the Pulse highlighted strong borrower activity and broker confidence in the continuation of this heightened activity.
The industries where brokers are expecting the most demand for financing are:
- Construction (63 per cent)
- Real estate (57 per cent)
- Arts and recreation (50 per cent)
- Healthcare (49 per cent)
- Professional services (48 per cent)
