The latest Third-Party Lending Report: Commercial Lending found product policy has become the leading factor in lender selection, with 93 per cent of surveyed commercial brokers rating it as important. Credit assessment quality and business development manager support were close behind, showing that the people and processes behind a loan can be just as influential as pricing.

For small business owners, self-employed applicants and asset finance customers, this matters because commercial lending is rarely a one-size-fits-all exercise. A lender may advertise competitive rates, but if its policy does not suit the borrower’s industry, income structure, security position, cash flow pattern or documentation, the application may slow down or fail altogether.

The report, based on feedback from 723 mortgage, finance and commercial brokers surveyed between 17 February and 30 April 2026, assessed 14 lender attributes across personnel, products, support and technology. These included product range, pricing, application lodgement, broker portals, settlement support, credit teams and post-settlement service.

Notably, credit assessment staff ranked among the top factors across commercial mortgages, business loans and asset finance. That is an important signal for borrowers seeking funding for vehicles, equipment, working capital, premises or expansion. Strong credit teams can make a practical difference when an application involves seasonal revenue, recent growth, unusual security, complex ownership structures or incomplete documentation.

The findings also reinforce the value of using experienced brokers when navigating business finance. A good adviser is not simply chasing a low rate; they are matching the borrower’s circumstances to a lender whose appetite, documentation requirements and turnaround times fit the deal. That can help reduce declined applications, repeated credit enquiries and frustrating delays.

For borrowers, the takeaway is clear: before applying, prepare more than just basic financials. Consider these steps:

• Clarify the purpose of the loan and how the funds will support revenue, efficiency or cash flow.
• Gather recent financial statements, tax returns, bank statements and details of existing liabilities.
• Ask whether the lender regularly supports your industry, entity type and security position.
• Compare fees, rates, repayment flexibility, approval speed and policy fit, not just the advertised interest rate.

At a time when lending conditions remain selective, the right match can be the difference between a quick approval and a stalled application. Businesses looking to grow, refinance or purchase assets should compare finance options with both price and policy in mind.