iscover 
The latest Broker Pulse: Commercial Lending report, conducted by Agile Market Intelligence in partnership with the Commercial & Asset Finance Brokers Association (CAFBA), found healthcare recorded the strongest growth outlook among major industries.
The survey, conducted between 1 and 24 February 2026, gathered responses from 391 mortgage, finance, and commercial brokers, including 123 active commercial brokers, to measure sentiment around future financing demand.
According to the report, healthcare posted the strongest forecast for financing demand, with a loan demand index of +45, up from +41 in December.
The financial and insurance services sector and professional services also recorded strong outlooks, each registering a loan demand index of +39.
Meanwhile, borrowing demand in the construction sector showed signs of recovery following a sharp decline at the end of 2025. The sector’s loan demand index rose slightly to +36, up 2 points from December.
The loan demand index tracks broker expectations by subtracting the share of brokers forecasting declining borrowing demand from those anticipating an increase.
Despite the positive outlook for several major service sectors, projections were more modest across other parts of the economy. Education and training recorded an index of +8, while utilities posted +9.
Trade-related industries showed weaker momentum, with wholesale trade sitting at +10 and retail trade recording a negative outlook at -5.
Michael Johnson, director at Agile Market Intelligence, said differences between sectors reflected broader industry conditions.
“Sector-specific constraints seem to be driving growth trajectories. Australia’s large service sectors are registering positive growth outlooks, while trade sectors are signalling weaker borrowing appetites,” Johnson said.
Business and asset finance demand remains strong
While sector demand varies, brokers continue to report strong expectations for business loans and asset finance over the coming months.
The loan demand index for business loans climbed to +56, representing a five-month high following a steady increase in expectations since September 2025.
Similarly, demand forecasts for asset finance rose to +42, up 5 points since December.
By contrast, outlooks for commercial mortgage demand softened. The commercial mortgage loan demand index dropped 11 points month on month to +32.
The report noted that the decline coincided with expectations of tighter monetary policy following an RBA rate hike earlier in the first quarter of 2026.
Nevertheless, Johnson said the continued strength in other lending categories indicates ongoing business expansion in key industries.
“The stable demand forecasts for business loans and asset financing signal that key sectors are decisively expanding, despite tighter policy projections from the RBA,” Johnson said.
Critical window for brokers
Agile Market Intelligence’s findings come as many SMEs find themselves in an increasingly tight spot, with pressures such as rising rates, Payday Super reforms, and Australian Tax Office (ATO) debts pressuring already thin cash flows.
According to research from Prospa and YouGov, 42 per cent of SMEs hold two months or less of expenses in reserve, including 16 per cent with one month or less and 14 per cent with no reserves at all. On average, business owners are operating with just 2.7 months of expenses as a buffer.
The survey also found that 41 per cent of businesses either lack awareness of the Payday Super reform or do not fully understand it, and 30 per cent are unsure or unprepared to meet the new payment cadence.
Additionally, Broker Daily has also reported on how ATO enforcement actions have fuelled mounting pressure.
That being said, evidence shows that businesses still have an appetite for growth.
A recent Business Sentiment Survey of more than 1,000 decision-makers conducted by financial analysis company CreditorWatch found that more than eight in 10 businesses plan to invest over the next 12 months.
Despite a backdrop of economic uncertainty, 82 per cent of Australian businesses plan to invest over the next 12 months, with a primary focus on technology, marketing, and product innovation.
However, this optimism has been tempered by a clear “wait-and-see” approach, with 63 per cent of businesses postponing major investments until economic conditions stabilise.
[Related: Weather shocks bite, but agriculture remains resilient]