The country’s new chief advocate for small business is urging the corporate and prudential regulators to further clarify lending guidance to make it crystal clear banks should not assess business loans like mortgages, to ensure funding flows freely to the sector.

In his first interview since taking over from Kate Carnell as the Australian Small Business and Family Services Ombudsman, Bruce Billson said he would maintain the agency’s focus on barriers to small business accessing finance – also a core focus for the Reserve Bank.