Business lending activity fell sharply at the end of last year, according to the latest Australian Bureau of Statistics lending figures.New commercial finance commitments fell 7.3 per cent in December, compared with the previous month (in seasonally adjusted terms).Fixed commercial lending commitments fell by 3.3 per cent and revolving commercial credit commitments fell by 18.3 per cent.Lease finance was the only bright spot, with new commitments up by 1.7 per cent over the previous month.New commercial finance commitments of A$42.1 billion in December were up just 1.7 per cent higher than the value of new commitments in December 2014.