Business lending has overtaken housing finance as the driver of growth in credit, with the highest annual growth rate since the financial crisis.According to the latest Reserve Bank lending figures, lenders' business loan portfolios grew by 0.8 per cent in April, compared with the previous month, and by 7.4 per cent over the 12 months to April.The last time the annual growth rate for business lending was above seven per cent was in January 2009.Mortgage balances grew by 0.4 per cent in April, compared with the previous month, and by seven per cent over the 12 months to April.Owner-occupier balances grew by 0.5 per cent month-on-month and by 7.3 per cent over 12 months. Investor balances grew by 0.3 per cent month-on-month and by 6.5 per cent over 12 months.With growth in investor balances well below the ten per cent target rate set by the Australian Prudential Regulation Authority, a number of lenders have been easing restrictions on investors in recent months.Last week CUA increased the maximum loan-to-valuation ratio for new mortgage lending to investors from 70 per cent to 85 per cent for new customers and Westpac increased the maximum LVR for loans to property investors from 80 per cent to 90 per cent.Comparison site Mozo said AMP, Aussie, Defence Bank, Suncorp, ME and Newcastle had all made changes to make it easier for investor to borrow.Personal lending continued to fall - down 0.1 per cent month-on-month and down 0.9 per cent over 12 months.