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Both associations said the appointment would provide another avenue for the Mortgage and Finance Association of Australia (MFAA) to bring brokers’ experiences as both finance professionals and small business owners into policy discussions.
Anja Pannek, who joined the MFAA as CEO in September 2022, brings more than 20 years of financial services experience to the board. She previously led PLAN Australia and held senior roles at National Australia Bank (NAB), Loan Market Group, Advantedge Financial Services and Challenger Limited.
She said the appointment would complement the MFAA’s existing advocacy on issues affecting members.
“Mortgage and finance brokers are small business owners, employers and active members of communities across Australia,” Pannek said.
“They face many of the same pressures as other small businesses, including rising operating costs, regulatory complexity, productivity challenges and finding and retaining great people.
“Joining the COSBOA Board gives us another opportunity to bring those experiences into the national small business conversation and advocate for practical policy settings that help our members prosper and thrive.”
MFAA builds on COSBOA relationship
The MFAA joined the Council of Small Business Organisations Australia (COSBOA) in 2024 and the two organisations have since worked together on initiatives supporting small businesses, including She Means and Cyber Wardens, which provides free cyber security education.
The two associations also collaborated on “Fair Go” campaign against the federal budget’s capital gains tax and trust taxation changes.
Pannek said her election to the board was a natural progression of that relationship, creating further opportunities for the organisations to work together on issues affecting their members.
“Our relationship with COSBOA is built on a shared commitment to helping small businesses succeed. This further reinforces those ties and strengthens our ability to work together on the issues that matter to our members,” she said.
“Our members are at the centre of everything we do, and stronger connections across the small business community ultimately strengthen our advocacy on their behalf.”
COSBOA CEO Skye Cappuccio welcomed Pannek’s election and the perspective mortgage and finance brokers would bring to the organisation.
“Anja brings significant leadership and advocacy experience as well as a strong understanding of the opportunities and pressures facing small business owners,” Cappuccio said.
“Mortgage and finance brokers are an important part of Australia’s small business community. They run businesses and employ people while also helping consumers and other small businesses access the finance they need.
“COSBOA and the MFAA have built a strong relationship over a number of years and Anja’s election further strengthens that connection. We look forward to her contribution to the board and our shared work supporting Australian small businesses.”
Small businesses under stress
Pannek’s appointment comes during a challenging time for small businesses.
NAB’s Business Survey, which has tracked confidence and conditions for more than 20 years, found that high interest rates, global uncertainty and fuel costs were pushing business confidence levels down to near-historic levels, with conditions well below average as well.
Economic stress from higher interest rates and rising costs has impacted businesses’ margins, while Australian Taxation Office debt enforcement and regulatory changes such as Payday Super have also put pressure on cash flow.
In May, fellow credit bureau CreditorWatch found payment arrears had climbed to their highest level since January 2020.
This has been feeding through to business owners, with business-related personal insolvencies increasing 14.4 per cent in FY2025–26, reaching 4,046 cases, according to the Australian Financial Security Authority.
Business credit demand has remained robust despite the bleak overall picture, however.
A report published by the Australian Banking Association (ABA) found 40 per cent of small and medium-sized businesses sought finance from their bank, while credit provided by banks reached a record $750 billion in April 2026, up from $567 billion in April 2023.
Banks such as the CBA, ANZ, NAB, and Judo Bank have also recorded strong growth in their business lending books.
This strong competition, both from banks and non-banks has also pushed the margin on small business loans above the cash rate to a five-year low, the ABA found.
And according to non-bank SME lender Banjo, businesses are putting that credit to good use.
Banjo’s latest SME Compass Pulse survey found that more than half of SMEs achieved their revenue targets over the past 12 months, unchanged from six months ago, while 72 per cent expect to achieve or exceed their targets for the year ahead.
Speaking to Broker Daily, brokers have also commented on the growing interest in business loans, flagging a structural shift in the role and approach of those in the sector as business pressures and credit requirements shift.
[Related: HIA urges Senate to broaden housing tax exemptions]
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