Credit reporting agency Equifax has reviewed the impact of lockdowns in business credit inquiries, reporting that overall inquiries in states under lockdown fell by 5 per cent compared with states without restrictions.

Commercial asset inquiries were the most affected, with inquiries in states under lockdown falling by 25 per cent compared with states without restrictions.

There was no consistent pattern with trade credit inquiries.

Equifax also found that post-lockdown activity recovers quickly, with inquiries returning to normal levels within two to four weeks.

However, there is no catch-up for “lost credit demand”.

It said the impact of lockdowns has been reducing over time as businesses adapt and there appears to be greater certainty about the permanent road out of lockdowns.

During the latest Delta lockdowns in New South Wales and Victoria, asset finance inquiries were down by around 15 per cent relative to non-lockdown states, compared with 25 to 30 per cent during earlier lockdowns.