“We believe that the future of commercial broking lies in making it easier for brokers to do business with us, and a powerful combination of human expertise and digital transformation”
BELINDA WRIGHT,
THINKTANK
“I believe it’s brokers who have the experience, knowledge and awareness of the banks’ and non-banks’ product suites that best suit their clients that will succeed”
SHANE CALLANDER, ING AUSTRALIA
“I think AI is a very important tool for financial analysis and providing ratios, but at the end of the day, the broker will really need to understand the customer, because the character needs to be assessed”
KAREN CARTER, BOQ BUSINESS
“In commercial, it’s a more diverse area of lending compared to residential lending, so seeking out those BDMs that can help you and workshopping the deal with the BDM ... is really important”
DAVID PRUSCINO, SIMPLICITY LOANS & ADVISORY
In Partnership with
Everything, everywhere, all at once for commercial
Commercial brokers face rapid change – success now requires strong lender relationships, adaptability and a keen grasp of both regulatory compliance and emerging technology trends
Read on
Ryan Nelson
Simplicity Loans & Advisory
Isabella Constantinou
Simplicity Loans & Advisory
David Pruscino
Simplicity Loans & Advisory
Karen Carter
BOQ Group
Industry experts
BROKERS IN today’s commercial finance market know that the ground beneath their feet never stays still for long. They must navigate an ecosystem where policy changes happen overnight, appetite shifts without warning, and the difference between a successful application and a rejection often comes down to understanding which lender fits which deal.
In this environment, the ability to juggle new technologies, adapt to regulations and build strong lender relationships – all while maintaining a superhuman ability to read the room and the market – can make all the difference.
The rise of more robust non-bank competition, coupled with mounting economic pressures on small and medium enterprises, has transformed the broker’s role from simple intermediary to indispensable market navigator. In this new era, brokers who can combine expertise, adaptability and personal connection are uniquely positioned to guide clients through complexity and seize the opportunities.
While the workings of the commercial lending market are always evolving, there is no doubt that it has grown quickly in recent years. According to MFAA data, the value of commercial lending deals settled by brokers has doubled since 2020. Against this healthy backdrop, senior managers from Simplicity Loans & Advisory recently met at Toko restaurant in Sydney with Australian Broker and representatives of both sides of the bank/non-bank nexus to discuss related issues in the mortgage broking industry and commercial markets.
The foundation of successful commercial broking rests on relationships that go beyond the typical business development manager interaction. The most effective partnerships involve deep integration of brokerage operations with lender processes.
Ryan Nelson, general manager – origination and fulfilment at Simplicity Loans & Advisory, described how personalised attention from lenders makes the difference. “As a commercial brokerage our lender relationships are crucial to our success. It works really well for us where the BDM or lender contact takes time to understand how we run our business and what type of business we write,” Nelson said. “Our most successful lender relationships are built on the lender understanding our business and sales process.”
Commercial finance has generally lagged behind residential lending in technology adoption, but one lender that has a reputation for being ahead of the curve is ING.
“We consider ourselves to be Australia’s first digital bank with no branches, and with technology innovation continually evolving, we need to keep pace and stay ahead of the curve,” said Shane Callander, national head of commercial property finance at ING Australia. “There’s a lot of investment at present across the bank, including substantial investment in our business banking division, particularly in respect to our technology and processes.”
The tech gap in commercial is closing rapidly at other lenders as well. Artificial intelligence and automation are beginning to transform how deals are processed, assessed and managed.
BOQ’s recent technological advances are a case in point: “We’ve had a couple of advancements at BOQ,” Carter said. “The first would be straight-through processing up to $1 million for our business customers. We’ve also added delegation authorities to the bankers so they can now approve their own deals.”
The implementation of API connections between lenders and brokers represents another significant development. These direct integrations streamline the application process and reduce manual data entry, improving both speed and accuracy.
Belinda Wright, head of partnerships and distribution at Thinktank, explained how AI is being deployed to reduce administrative burden: “We believe that the future of commercial broking lies in making it easier for brokers to do business with us, and a powerful combination of human expertise and digital transformation. Our recently announced partnership with CitoPlus delivers on this vision by delivering a step change in speed and efficiency as well as security for brokers and borrowers alike.”
This personalised approach contrasts sharply with the generic product pushes that characterise many lender-broker relationships. When BDMs understand a brokerage’s client base, deal flow and operational style, they can provide relevant market intelligence and product information rather than broad-based marketing material.
“A lot of the product push that we get is exactly that. It’s product push,” said Nelson. “It’s a hastily crafted EDM for the mass market. It’s not very personalised, whereas the lenders who are doing really well have actually got an understanding of how we operate, and they’re able to tailor it to what’s relevant for us.”
At the same time, being persistent is important. “A good BDM team always seems to be sort of in our face more often than not – and that’s a good thing,” said David Pruscino, associate director at Simplicity Loans & Advisory.
But relationship building also extends beyond the frontline sales team. Karen Carter, general manager, commercial third party at BOQ Business, highlights the importance of connecting brokers with decision-makers and technical experts. “What sets us apart is the BDMs and bankers that have extensive years of specialisation,” she said.
She cited a banker with expertise in the health industry as an example. “Nic Stevens, one of our Qld Health specialists, has been in the industry for 15 years,” Carter said. “He’s able to provide guidance around industry, equipment specialists and fitout specialists, adding value to the broker along the way with that knowledge.”
This multilayered relationship approach creates value beyond simple transaction processing. Brokers gain access to industry-specific knowledge, technical expertise and market insights that help them better serve their clients and identify new opportunities.
“The broker channel is very important to BOQ; we have a very strong focus on trying to work with the brokers that have the experience,” said Carter. “There’s a lot of commercial lending brokers out there and ex-bankers coming into commercial lending, and they’re the brokers we want to work with.”
The benefits of such digital advancements will be wide-ranging. “By embracing these and other advancements, lenders and brokers alike can stay ahead of the curve, enhance their capabilities and meet the evolving needs of borrowers with confidence,” Wright said.
However, the human element remains central to commercial lending decisions. The complexity of commercial transactions and the importance of assessing character and business viability mean that technology should serve to enhance, rather than replace, human judgement.
“I think AI is a very important tool for financial analysis and providing ratios, but at the end of the day, the broker will really need to understand the customer, because the character needs to be assessed,” Carter said.
The development of comprehensive broker platforms represents the next evolution in commercial finance technology. Isabella Constantinou, sales director at Simplicity Loans & Advisory, described the advances being made.
“We are developing a tech platform called Hugo, which is effectively an end-to-end system where a client or a referrer can lodge a deal into the system, and from that system we can review documentation, obtain lender feedback and prepare our engagement/proposal documents to issue terms to our clients,” Constantinou said.
This platform approach addresses multiple pain points in the commercial lending process: document management, client communication, lender lodgement and proposal generation. By centralising these functions, brokers can manage larger deal volumes while maintaining quality and compliance standards.
“It’s actually not just going to benefit the lenders, because brokers will see all sorts of efficiencies and ease of application and approval. That then translates into [a win for] their clients,” Constantinou said.
The efficiency gains extend beyond individual transactions. When brokers can process routine tasks more quickly, they can invest more time in client relationship building and deal structuring – the high-value activities that differentiate successful commercial brokers.
As the commercial lending market grows, so does the need for robust compliance and risk management practices. Unlike residential lending, commercial finance lacks comprehensive regulatory oversight, placing greater responsibility on brokers to maintain professional standards.
Constantinou highlighted the importance of maintaining high standards even without regulatory requirements. “I think there’s a lack of awareness of what the minimum standards are that you need to still be upholding from a compliance perspective,” she said. “Things like recording calls, storing data, doing ID verifications, etc., for the commercial space, not because you necessarily have to from a regulatory standpoint, but because there’s a lot more risk involved in the commercial space.”
The risk goes beyond immediate transaction concerns. Commercial deals involve larger sums, more complex structures and longer-term relationships. Problems that emerge post-settlement can have significant consequences for all parties involved.
“If you’re not investing the time into understanding what your client actually wants to do, then the client may as well just do it themselves,” said Constantinou. “Brokers need to ensure they actually understand how to package it together and present it in a way that gives it the best chance of success.”
Pruscino emphasised the importance of proper deal preparation. “In commercial, it’s a more diverse area of lending compared to residential lending, so seeking out those BDMs that can help you and workshopping the deal with the BDM ... is really important,” he said.
This workshopping approach helps identify potential issues before formal application, improving approval rates and reducing processing times. It also provides valuable education for brokers, particularly those transitioning from residential lending.
“I think the best relationships that we have are the ones where it’s collaborative and there’s a sharing of ideas between broker and lender, and we’re allowed to be exposed to lots of areas of the lender – exposed to the credit teams, the decision-makers, management – and there’s open discussion around policy and direction of the lender,” said Pruscino.
The complexity of commercial finance demands continuous learning and skill development. The most successful brokers invest heavily in understanding different industry sectors, deal structures and lender appetites.
Wright stressed the importance of inclusive education: “Many brokers are eager to expand but can feel uncertain about how to approach commercial transactions with clients. Lenders can support this transition by ensuring our teams speak in clear, accessible language – avoiding jargon and overly technical terms –and by delivering education and guidance and insights that empower brokers rather than overwhelm them. Ultimately, it’s about creating an inclusive environment where brokers feel supported, capable and enlivened as they grow their commercial expertise.”
For Thinktank, getting brokers up to speed or not affects the overall business dramatically. “We work exclusively with mortgage brokers, so we’re committed to continuing to innovate with new products and offerings to help them deliver the best journey and outcomes for their clients,” said Wright.
Lenders are also keen for brokers to partner with experienced parties if they make the leap into commercial. Callander explained, “The opportunity exists for brokers in the residential space who want to expand their commercial offering to partner with BDMs from the bank and workshop the deal, but also to consider partnering with experienced commercial brokers such as Simplicity, who would be able to guide them through a process where they may not have the expertise.”
The education challenge applies not only to brokers but also to their clients. As more sophisticated investors enter the commercial property market, driven partly by social media influence and online education, brokers must be prepared to guide clients through complex decisions.
Pruscino observed a growing trend: “Australians love their property, and we’re seeing more and more buyers’ agents … we’re getting more mum-and-dad enquiries [from customers who] have traditionally invested in residential property but now they’re looking more towards commercial property investments. So there’s a real opportunity, but there’s also a challenge – to service those clients and bring them on the education journey.”
Some of this trend contains possible danger signals. “They’re getting education from places like Tiktok,” Pruscino said. “All of a sudden there’s talk about compliance requirements for influencers because there’s a lot of people out there spruiking certain strategies that may not be the right ones.”
This democratisation of commercial property investment creates opportunities but also responsibilities. Brokers must balance client enthusiasm with realistic assessment of risks and requirements.
For brokers entering or expanding in commercial finance, the sheer volume of options can be overwhelming. The key lies not in knowing every lender but in understanding the right ones for specific situations.
The challenge becomes more complex when considering how quickly market conditions change. Callander emphasises the importance of staying current with lending appetite rather than just policy.
“I believe it’s brokers who have the experience, knowledge and awareness of the banks’ and non-banks’ product suites that best suit their clients that will succeed – that really saves the clients and brokers a lot of time,” Callander said. “There can be subtleties in financiers’ lending policy and lending appetite, and these can change very quickly in a continually changing environment.”
This distinction between what lenders say they do and what they actually want to do represents one of the most valuable insights an experienced broker can provide. The most successful brokers develop an intuitive understanding of these subtle shifts, positioning themselves as market intelligence providers rather than simple transaction facilitators.
“I think the complexities of the commercial market do make it challenging for someone to start out without that background and experience,” said Callander. “And that’s where the opportunity is for many, because in this market, there are still only quite a few full-service commercial brokers.”
Simplicity Loans & Advisory is a boutique brokerage and property advisory business with offices in Sydney and Melbourne. It was established with a view to forming and maintaining client relationships built on trust by providing high-quality financial and debt advice in unison. The group has settled over $4 billion in commercial finance since its inception in late 2017. Its ultimate goal is to help its clients achieve their personal and financial goals. Simplicity will always work in the best interests of the client, ensuring the alignment of all parties to a common goal.
Find out more
Ryan Nelson is general manager – origination and fulfilment at Simplicity. He brings a diverse background to commercial banking, with a foundation in human resources and over 11 years at National Australia Bank. At NAB, he excelled in frontline and senior partner leadership roles, managing high-performing sales teams and developing a client-first approach. Nelson’s expertise spans client relationship management, team leadership and strategic advisory. He is dedicated to fostering supportive environments, leading by example and acting with integrity. Guided by empathy and honesty, Nelson builds lasting financial success and enduring client relationships. His passion, dedication and international cricketing experience make him a standout in loans & advisory.
Simplicity Loans and Advisory
Ryan Nelson
Isabella Constantinou is the sales director at Simplicity and one of the few female brokers solely writing commercial lending transactions. She started in the mortgage broking industry in November 2017 and worked as associate to one of the directors for three years before moving to a broking position in April 2020. Since becoming a broker, she has settled over $1.1 billion in transactions and won a number of accolades, including being the first woman to receive MPA’s Top Commercial Broker award in 2022. She was also named 2024 Commercial Broker of the Year at the MFAA National Awards.
Simplicity Loans & Advisory
Isabella Constantinou
David Pruscino is currently associate director at Simplicity. He is a seasoned finance professional with over 25 years of experience in the banking industry. Having started his career in 1996, he rose to become a commercial relationship manager, earning a reputation for delivering tailored financial solutions to businesses and individuals. After two decades in this role, he transitioned to broking in 2021, leveraging his expertise to provide even greater value to clients. Pruscino is dedicated to helping clients achieve their financial goals. Married with three children, he also enjoys family time, travel and sports.
Simplicity Loans & Advisory
David Pruscino
Karen Carter is general manager, commercial third party at BOQ Business, where she leads a national team supporting SME customers through partnerships with commercial and referral partners. With over two decades of experience across major banks, Carter specialises in health, small business, retail and insurance premium funding. She is known for driving business growth, turning around underperforming units and mentoring future finance leaders. Recognised as an MPA Elite Woman in 2024 and a finalist for Women in Finance Thought Leader and Mentor of the Year in both 2023 and 2024, Carter is passionate about empowering SMEs and fostering innovation.
BOQ Group
Karen Carter
In Partnership with
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The customer owned a bank saw a huge boost after the Hayne Royal Commission. One year on and their market share is growing as customer continue to see their value.
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Fernando Lemos
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Beyond Bank
Darren McLeod
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Heritage Bank
Stewart Saunders
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MFAA head credit adviser, Finsure Finance and Insurance
Christopher Lee
In Partnership with
Fighting for
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The customer owned a bank saw a huge boost after the Hayne Royal Commission. One year on and their market share is growing as customer continue to see their value.
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Industry experts
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Beyond Bank
Darren McLeod
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Velit egestas vel ornare pellentesque ridiculus. Mauris tempor augue quis mattis suspendisse feugiat commodo posuere. Faucibus massa adipiscing nullam elit, ac vel accumsan. Phasellus eget ac dignissim fermentum ac placerat elit, metus. Nulla porttitor ante egestas molestie quis quam. Pharetra magna sit mauris tellus gravida rutrum libero sit. Justo orci cras euismod proin massa lorem ut. In non tellus phasellus faucibus ullamcorper nullam odio dui et.
Heritage Bank
Stewart Saunders
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MFAA head credit adviser, Finsure Finance and Insurance
Christopher Lee
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Bank Australia
Fernando Lemos
The technology revolution
Published 25 Aug 2025
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Belinda Wright
Thinktank
Shane Callander
ING Australia
Shane Callander is the national head of commercial property finance at ING Australia, where he leads the bank’s commercial property finance strategy and team nationwide. Callander has spent over 15 years at ING, progressing through senior roles, including state manager for Victoria and senior manager, commercial property finance. He holds a Bachelor of Commerce and Bachelor of Property from the University of Auckland. Callander is recognised for his expertise in real estate finance, portfolio management and business banking, and is committed to supporting the growth of ING’s business banking division and fostering a collaborative, high-performing culture.
ING Australia
Shane Callander
Belinda Wright has over 20 years’ experience across various divisions in banking and financial services. She specialises in residential sales, credit and end-to-end home loan processing, with a focus on third party broker channel experience. She also has experience in marketing, commercial and institutional banking. Prior to joining Thinktank, Wright spent time working at Westpac Group, ANZ and RAMS.
Thinktank
Belinda Wright
Building relationships that matter
Platform integration and workflow efficiency
Managing compliance risk
Source: MFAA Industry Intelligence Service, 19th Edition
Growing share of mortgage brokers also writing commercial loans
Brokers
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
25
30
35
%
Oct 2019−
Mar 2020
Apr 2020−
Sep 2020
Oct 2020−
Mar 2021
Apr 2021−
Sep 2021
Oct 2021−
Mar 2022
Apr 2022−
Sep 2022
Oct 2022−
Mar 2023
Apr 2023−
Sep 2023
Oct 2023−
Mar 2024
Apr 2024−
Sep 2024
4,486
27.3%
4,539
27.5%
4,727
27.9%
5,268
28.8%
5,369
28.8%
6,118
31.8%
5,864
30.1%
5,654
28.5%
6,755
30.7%
7,023
31.5%
Proportion of total
Number of brokers
show/hide values
The education imperative
The art of lender selection
For residential brokers considering commercial expansion, the path forward requires careful strategic planning. The breadth of the commercial market makes a focused approach essential.
Nelson advocates for niche specialisation: “If you’re a residential mortgage broker stepping into commercial, it makes logical sense to me to pick a niche and go quite deep as a starting point. This will allow you to be able to serve a segment of the market well. Commercial lending is broad, and it would be very difficult to provide a valued service if you tried to get across all commercial lending types on day one.
“The closer that the lender can get the broker to the decision-maker the better,” Nelson said. “The more people you have transferring the client’s story and situation, the greater the chance of errors, and in my view the poorer the experience. At times you feel a long way from the decision-maker, and it can feel like you’re on opposing teams, not collaborating to create a solution for a client.”
Strategic diversification approaches
This focused approach allows brokers to develop detailed expertise in specific areas while building relationships with relevant lenders and industry participants. Whether the focus is on small business lending, medical finance or hospitality, specialisation creates competitive advantages.
The alternative approach involves partnerships with established commercial brokers. This model allows residential brokers to service client needs without developing comprehensive commercial expertise.
“If your core business is residential, in my opinion you’re almost better off partnering with someone who specialises in commercial so that you can focus on what your core business is,” Constantinou said.
“The closer that the lender can get the broker to the decision-maker the better. The more people you have transferring the client’s story and situation, the greater the chance of errors, and in my view the poorer the experience”
RYAN NELSON, SIMPLICITY loans & advisory
The commercial finance sector faces a period of significant change and opportunity ahead. Rising interest in commercial property investment, combined with increasing broker market share, is creating a positive outlook for skilled practitioners.
The structure of the market also means that commercial has much more room to grow than residential, which is pushing new highs in terms of broker share.
“There is a growing sense of optimism that the commercial lending space for brokers is poised for significant further growth,” said Wright. “With only an estimated 35–40% of commercial loans currently introduced by brokers, there remains a substantial untapped opportunity that we refer to as ‘the other 60%’.
“More brokers are beginning to recognise the potential in commercial finance and commercial mortgages, making it an increasingly attractive area for diversification and business expansion.”
While MFAA data puts broker share of commercial loans closer to 30%, the general feeling among those operating at the coalface is that this number is conservative.
The shift from direct bank lending to more broker-mediated transactions reflects the increasing complexity of the lending environment. As lenders proliferate and products diversify, clients need professional guidance to navigate the options effectively.
Carter also believes the current broker share of the commercial market will go higher. “I would say that roughly 40% of the market is now brokering commercial, and I expect that it will continue to rise with the number of commercial bankers that are coming out of the banks into broking. I think that the commercial broker future is bright,” she said.
Market outlook and opportunities
Callander sees positive signs in the property development sector: “Regarding commercial finance on the property side, the outlook is optimistic and generally positive. Clients are increasing activity and open to doing transactions and open to kicking off projects.
“Banks and non-banks are willing and ready with capital to deploy. The macroeconomic factors for lending are generally considered relatively sound and positive looking forward, especially in a declining interest rate market.”
This optimism is tempered by awareness of ongoing challenges. Economic pressures on small businesses, regulatory uncertainty and the need for skilled practitioners all present obstacles to growth.
As the market evolves, innovation in products and processes will determine which players succeed. Brokers who adapt to changing client needs – while maintaining the relationship focus that defines commercial lending – will stand out.
The sector is at an inflection point, where traditional banking intersects with aggressive non-bank competition, creating new opportunities for both lenders and brokers.
“There’s such an opportunity for the lending market to support commercial brokers and to increase the market share … the lenders that can support us with their tech and innovation and the transparency and the direct relationships to credit and all the things that we’ve spoken about [are] going to be the ones that see the most business,” said Constantinou.
For brokers, success will come to those who build strong lender relationships, uphold high professional standards and use technology to enhance – rather than replace – human judgement. As new lenders enter and established players adapt, the opportunities for skilled commercial brokers will only expand.
“There’s such an opportunity for the lending market to support commercial brokers and to increase the market share”
ISABELLA CONSTANTINOU, SIMPLICITY loans & advisory
Source: MFAA Industry Intelligence Service, 19th Edition
Mortgage brokers’ commercial loan book doubles since 2020
$bn
100
80
60
40
20
0
Oct 2019−
Mar 2020
Apr 2020−
Sep 2020
Oct 2020−
Mar 2021
Apr 2021−
Sep 2021
Oct 2021−
Mar 2022
Apr 2022−
Sep 2022
Oct 2022−
Mar 2023
Apr 2023−
Sep 2023
Oct 2023−
Mar 2024
Apr 2024−
Sep 2024
9.7
45.5
9.4
48.9
10.3
52.5
13.4
54.2
15.1
66.7
17.2
70.1
16.5
73.1
17.3
78.1
20.3
83.9
22.7
85.9
Total book value
Value settled
show/hide values
From left: Karen Carter, BOQ Group; David Pruscino, Simplicity Loans & Advisory; Isabella Constantinou, Simplicity Loans & Advisory; Ryan Nelson, Simplicity Loans & Advisory; Belinda Wright, Thinktank
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MFAA head credit adviser, Finsure Finance and Insurance
Christopher Lee
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MFAA head credit adviser, Finsure Finance and Insurance
Christopher Lee
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Tellus in penatibus condimentum malesuada ante vulputate nisi, arcu leo. Amet urna sapien purus vestibulum fermentum a. Cursus metus massa donec sed varius. Nunc enim sit morbi lacus, molestie et nunc. Nullam sed facilisi id malesuada. Ante purus velit, quam scelerisque ultrices scelerisque donec.
Velit egestas vel ornare pellentesque ridiculus. Mauris tempor augue quis mattis suspendisse feugiat commodo posuere. Faucibus massa adipiscing nullam elit, ac vel accumsan. Phasellus eget ac dignissim fermentum ac placerat elit, metus. Nulla porttitor ante egestas molestie quis quam. Pharetra magna sit mauris tellus gravida rutrum libero sit. Justo orci cras euismod proin massa lorem ut. In non tellus phasellus faucibus ullamcorper nullam odio dui et.
MFAA head credit adviser, Finsure Finance and Insurance
Christopher Lee
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Tellus in penatibus condimentum malesuada ante vulputate nisi, arcu leo. Amet urna sapien purus vestibulum fermentum a. Cursus metus massa donec sed varius. Nunc enim sit morbi lacus, molestie et nunc. Nullam sed facilisi id malesuada. Ante purus velit, quam scelerisque ultrices scelerisque donec.
Velit egestas vel ornare pellentesque ridiculus. Mauris tempor augue quis mattis suspendisse feugiat commodo posuere. Faucibus massa adipiscing nullam elit, ac vel accumsan. Phasellus eget ac dignissim fermentum ac placerat elit, metus. Nulla porttitor ante egestas molestie quis quam. Pharetra magna sit mauris tellus gravida rutrum libero sit. Justo orci cras euismod proin massa lorem ut. In non tellus phasellus faucibus ullamcorper nullam odio dui et.
MFAA head credit adviser, Finsure Finance and Insurance
Christopher Lee
