Hope is not a lending strategy.

We help your business borrow better.

Your accounts answer the question the ATO asked. A credit team is asking a different one. We find the add-backs others miss, then take the file to the lenders who will do the deal, or hand it to the broker you already trust.

Nick ClunesFounder

How we broker a deal Book a free scoping call

Commercial finance only, across 40+ lenders

8+ years in commercial and acquisition finance

Submissions built on lending software we wrote

Fixed advisory fees, agreed in writing before we start

Nicholas Clunes, principal of Andorra Advisory Group

No hidden fees $3.0m to $6.5m capacity, rebuilt on evidence Not the right fit? We say so and refer you

Capacity figures from a client matter, shared with consent. Outcomes depend on individual circumstances and lender criteria.

Why capacity is usually understated

Your borrowing capacity is a number someone calculated. Usually wrong, and usually low.

The profit figure your bank assessed was prepared for the ATO, not for a credit team. It is conservative by design, it carries costs that will never happen again, and it includes rent on premises you are about to stop renting.

An add-back only counts if a credit assessor accepts it. We know which ones survive, because we have sat on that side of the desk and we still speak to those teams every week.

Ask Nick what yours is worth See which add-backs survive

Every $10,000 of provable earnings is worth $62,000 to $90,000 of property.

So find $50,000 the last assessment missed, and you have found somewhere between $310,000 and $450,000 of property.

At a 7.5% to 9.85% assessment rate over 25 years, at 1.25x to 1.50x cover. Rates, terms, covenants and lender policy vary by deal. These figures illustrate the relationship rather than quote it.

What we do

Finance first. Then the diligence behind a good buy.

Finance documents and business plans are the work most owners come for, and the natural on-ramp to a lending conversation. Due diligence stays on the menu for when you are buying. All fixed-fee, all start with a call.

Lender-ready finance documents

Serviceability models, funding requests, information memorandums and business plans, built the way a commercial credit team expects to read them. Priced per document, no surprises.

Flat fees from $850, turnarounds from 3 business days.

Finance documents and pricing

Business plans and forecasts

The plan and the three-way forecast a lender actually asks for, written by the desk that gets these approved, from your real accounts rather than a template. For template money, a credit-literate custom plan.

From $850, turnarounds from 5 business days.

Business plans and pricing

Financial due diligence

Part of buying a business well. We rebuild the earnings picture from bank statements, BAS lodgements and the general ledger, so before you sign you know what the business really earns once you are the one running it.

Fixed fees from $2,500, priced by transaction value.

Due diligence services and pricing

That is the shape of it. Every service in one place if you would rather see the range, or the commercial property side if that is the deal in front of you.

Three ways this gets done

Your bank, your broker, or us.

Two of these are probably already in your life, and neither of them is the wrong answer. The difference is who does the hours on the earnings before anyone applies.

	Andorra	A residential broker	Your bank
Lenders the deal can reach	Yes. Full commercial accreditation, through Andorra and The Lending Lab	Partly. Accreditation follows volume, and commercial is not their book	No. One, on one credit policy
Earnings rebuilt from source documents	Yes. Every engagement, before anything is lodged	No. Not the work a residential file ever calls for	No. The return as lodged is the number
Add-backs found and evidenced upfront	Yes. Each one traced to a document an assessor can open	No. Passed through as the accountant supplied them	No. Only the ones you think to raise yourself
Serviceability tested at the assessment rate first	Yes. Before you apply, with the stress tests	Partly. A rate calculator, not a covenant model	No. You find out at credit
Your existing broker or banker stays in the deal	Yes. We build the file, they lodge it	Yes. It is their client and it stays that way	No. The deal becomes theirs

Lenders the deal can reach

Andorra: Yes. Full commercial accreditation, through Andorra and The Lending Lab
A residential broker: Partly. Accreditation follows volume, and commercial is not their book
Your bank: No. One, on one credit policy

Earnings rebuilt from source documents

Andorra: Yes. Every engagement, before anything is lodged
A residential broker: No. Not the work a residential file ever calls for
Your bank: No. The return as lodged is the number

Add-backs found and evidenced upfront

Andorra: Yes. Each one traced to a document an assessor can open
A residential broker: No. Passed through as the accountant supplied them
Your bank: No. Only the ones you think to raise yourself

Serviceability tested at the assessment rate first

Andorra: Yes. Before you apply, with the stress tests
A residential broker: Partly. A rate calculator, not a covenant model
Your bank: No. You find out at credit

Your existing broker or banker stays in the deal

Andorra: Yes. We build the file, they lodge it
A residential broker: Yes. It is their client and it stays that way
Your bank: No. The deal becomes theirs

A general comparison of how the three channels are set up, not a statement about any particular bank, banker or broker.

Your banker is not the problem.

They work one credit policy, they carry a portfolio and a target, and the file that lands on their desk is the one you sent them. Add-backs do not announce themselves. They sit in a depreciation schedule, a lease that ends at settlement, a buyout deed, an administrator's notice. Finding them and evidencing them is hours of work nobody has asked anyone to do, and a banker under a queue is not going to go looking.

So we do those hours first and hand the file over with the adjustments already made and already supported. That is a better outcome for you, and it is an easier file for the banker, which is a large part of why it works.

If you have a broker you trust, keep them.

Commercial credit is a different panel, a different policy and a different submission to a home loan. The accreditations that open that panel are granted on the commercial volume you write, so a residential book does not earn them however good the broker is. Plenty of brokers send the commercial piece to us and stay across the client the whole way through. That is the arrangement we prefer, not a fallback.

We arrange commercial finance only, so your broker's home loan was never on the table. On a matter a broker refers, we do not pitch, cross-sell or take the lodgement, and that sits in the engagement letter rather than on a page where it costs us nothing to say.

How we work with brokers

How it works

Four steps. It starts with a call.

1
Book a call
A short call with Nick about the deal. Bring whatever numbers you have. You will get a straight read on whether the work is worth doing.
2
Fixed fee confirmed
We confirm the right service level and a fixed fee in writing within two business days of seeing the financials. No charge, no obligation.
3
Work performed
On engagement we issue the standard information request and begin. You are notified immediately if records are materially incomplete.
4
Report and debrief
You receive the written report and workbook, a debrief call, and follow-up questions answered for 30 days after delivery.

Process, timelines and what we need from you

Working analysis for buyers: the insights library

How the work gets done

Commercial PowerHub, and we built it.

Most commercial submissions are a cover letter, a spreadsheet and three years of financials. Ours are generated on Commercial PowerHub, the lending platform we built in-house, because the work is not what an off-the-shelf tool is built for. Earnings rebuilt from source data, serviceability at the assessment rate rather than the quoted one, every covenant in the letter of offer tested against the actual numbers, the sensitivities run, and the credit paper produced from the same models. That is why the figures reconcile and why a credit team can follow them.

It is what the work behind the case studies on this page was done with, including the vet practice whose capacity moved from $3.0m to $6.5m and the self storage purchase a bank had already declined. It also saves everyone a fortnight: the model tells us what is missing on day one, so you and your accountant are asked for documents once rather than three times. And you can audit it without engaging us, because the 18 calculators on this site run the same engines, free, with the method set out on every one.

How we broker a deal See the calculators

Client stories

Real files. Real numbers.

Fourteen matters on the site, each with its own page: what the client walked in with, what the analysis found, and what the lender decided. A few to start with.

Veterinary · 2025

The vet practice capped at $3.0m

Capacity rebuilt to $6.5m.

Read the story

Industrial property, metro Brisbane · 2024

Declined twice. Then $1.5m of equity in nine months.

Over $1.5m of equity uplift in nine months.

Read the story

Industrial property, Melbourne · 2024

$1m of equity on day one.

$1m of equity before the first rent cheque, on a projected 32.2% IRR.

Read the story

See all fourteen client stories

The work itself

What a lender sees from us.

A page from a real serviceability workbook prepared for a live matter, client names removed. The facility, the covers, and a verdict a credit team can read in ten seconds. Every number in it traces back to a source document.

How the documents are built

Dashboard page of a serviceability workbook showing the facility, covenant tests and an overall pass verdict — From a real workbook. Client names removed.

From a recent engagement

What one vendor P&L looked like after reconciliation

Finding	Detail
Revenue growth, three years	+27%
Non-rent operating cost growth, same period	+34%
Expenses identified but not disclosed in the vendor P&L	≈ $115,000
Depreciation recognised on a depreciating asset base	Nil in 2 of 5 years
Site management cost in the vendor's model (absentee owner, 1,800 km away)	Not provided

Revenue growth, three years

Detail: +27%

Non-rent operating cost growth, same period

Detail: +34%

Expenses identified but not disclosed in the vendor P&L

Detail: ≈ $115,000

Depreciation recognised on a depreciating asset base

Detail: Nil in 2 of 5 years

Site management cost in the vendor's model (absentee owner, 1,800 km away)

Detail: Not provided

Details anonymised and materially altered. Pattern representative of actual findings.

What it meant

Revenue really was growing. That part of the story was true.
Costs were growing faster, and the margin was shrinking every year.
None of it showed in the adjusted figures the price had been built on.
With the undisclosed expenses and the missing management cost back in, the real earnings sat well below the number the vendor was selling.

The number you did not test is the number you are paying for.

A vendor P&L that overstates earnings by $115,000 does not cost you $115,000. Businesses this size commonly change hands on about three times earnings, so it costs you around $345,000 at settlement. Then it costs you the $115,000 again, every year you own it.

The numbers work that sits between your accountant and your bank.

Commercial finance and the analysis underneath it, for businesses buying, borrowing and growing. Every fee on the site, and we are paid the same whether the answer is yes or no.

13 of 14

Matters on this site that went on to funding

Fourteen matters are set out on our case studies page, spanning 2023 to 2026. Thirteen went on to funding, whether we arranged it or the client's own bank did. One did not proceed, on our advice. Outcomes depend on individual circumstances and lender criteria.

Check it against the fourteen

Where are you?

Three ways owners come to us.

Buying a business, growing the one you have, or turning strong profit into wealth outside it. Start where you are.

“I want to buy a business.”

Buy it with your eyes open, and your finance ready.

First-time and repeat buyers. We read the deal the way a credit team would, test the earnings the price is built on, and build the file that gets it funded.

See the buyer's path

“I own a business and want to grow it.”

Growth takes capital. Capital takes preparation.

Established owners expanding, opening a second site, buying equipment or a competitor. We model what the numbers support and build the case for the facility.

See the growth path

“My business makes good money. I want to build wealth outside it.”

Your business makes the money. What is the money making?

Strong-profit owners with lazy cash and no asset strategy. This is the commercial-property-outside-the-business play, and where our biggest client stories live.

See the wealth path

Or go straight to the question you have.

Your accountant knows the history. We work out what a credit team will do with it, and what the business can carry next.

How much can we borrow?

The facility you have in mind, modelled into your real financials, with the covenant maths and the stress tests.

Can we afford to grow?

Another business, new equipment or a second site, run through best, mid and worst case over a multi-year horizon.

We were declined.

Usually the case failed, not the deal. We find why, then rebuild the earnings case from evidence.

The bank wants a plan.

Lender-grade plans and three-way forecasts built from your actual accounts, not a template.

Never bought one before? Start with what you can actually afford.

Most people look for six to eighteen months, and half of that is spent on businesses they were never going to be able to fund. Work out your range first. It is free, it takes two minutes, and it tells you whether your deposit or the earnings are what is holding you back.

What can I afford?The first-timer's guide

Nicholas Clunes in conversation at an industry event

Who you deal with

Nick and his team. Not a call centre.

A former personal and business banker, a broker since 2018, Nick leads every engagement personally: he scopes your matter, reviews every finding and takes your debrief call. His team builds the file behind him, so every conclusion carries his judgment and his name.

$200M+

Arranged across development, construction and private lending

8+ years

In commercial and acquisition finance

Top 10

Broker recognition

Gold Club Elite 2025 · Commercial Broker of the Year finalist 2025 · Multiple MFAA award nominations

Figures relate to finance arranged by Nicholas Clunes through his broking businesses, Andorra Private and The Lending Lab.

Book a call with Nick

The Owner's Journey

We are not in this for one transaction.

From your first acquisition to owning the premises, through the hard years and out to retirement, Nick and his team stay at the table. In the good times and the bad, whether we arrange the finance or your own bank funds the file we build.

Clients who have trusted us with their modelling

Who sends us work

Other professionals put their clients in front of us.

Which is a harder test than winning a client directly. An adviser referring you is lending you their relationship, and they only do it twice if the first one went well.

Accountants

Because we never touch compliance, and never ask them to sign a serviceability letter.

Finance brokers

For commercial deals they keep, with the file built underneath and the lodgement theirs.

Business brokers

Because a buyer with tested numbers is a buyer who settles.

Buyers agents

They find and negotiate the deal; we test the earnings the price is built on.

What clients say

5.0 from 60 Google reviews

“Nick as a broker is part of my dream team for not only residential but especially commercial lending and has been nothing short of brilliant. Always calm under pressure and gets the job done. Very proactive and knowledge far superior to other brokers I've worked with.”

Rachael · Commercial lending

“Nick is an absolute gun at his job. I've been through many brokers over the years, and he is by far the best I've worked with. His knowledge in the commercial space is second to none, and the way he handles the process is completely seamless.”

P · Commercial finance

“Nick is super professional and highly competent in his craft. He guided me with credible lending options and advice during my commercial property purchase journey. Highly recommended.”

ADS Rawal · Commercial property

5.0 from 60 Google reviews for Nicholas Clunes, as at August 2026. Reviews are published by the reviewers on Google and are reproduced here as written.

Pricing

Every fee, up front

No 'contact us for pricing'. Lender submission packs are flat-priced per document. Due diligence is priced by transaction value. The full schedule is on the pricing page.

The Model

Test whether the deal services before you go near a lender.

$1,850

5 business days