Larkin family group
Client since 2012 · Griffith NSW · 9 entities · 4 lenders · $6.8m placed · Angus McPhee
2 financials outstanding
This is the idea the whole system is built on. A farming client is not a borrower — it is a family group. Nine entities, four people, five facilities across four lenders, one property leased between related parties and a separate company holding the water. No lender assesses any part of it in isolation, and neither can a broker. Every screen here starts from the group and works down.
Entities
9
3 companies · 2 trusts · 4 individuals
Group assets
$24.6m
Land, water, livestock, plant
Group debt
$6.8m
Across 4 lenders · 5 facilities
Group gearing
27.6%
Comfortable
The group
Who is who, what they hold, and what they have signed for
Entity
Role
Assets
Debt
GroupLarkin family groupClient since 2012 · Griffith NSW · 9 entities
Angus McPhee
$24.6m
$6.8m
CoyLarkin Pastoral Co Pty LtdABN verified · operating entity · cropping
Borrower
$4.2m
$3.9m
TrustLarkin Family TrustDiscretionary · holds two titles
Guarantor & mortgagor
$11.4m
$1.8m
CoyLarkin Grazing Pty LtdCattle · 1,180 head
Guarantor
$2.9m
$0.6m
TrustLarkin Superannuation FundSMSF · holds one title, leased to Pastoral
Related party lessor
$3.8m
$0.5m
CoyMarrawee Water Holdings Pty LtdHolds 1,840 ML of entitlement
Security provider
$2.3m
$0
PersonIan Larkin68 · director of all three companies
Guarantor, all facilities
—
—
PersonMargaret Larkin66 · director, trustee
Guarantor, all facilities
—
—
PersonCameron Larkin38 · director of Pastoral and Grazing
Guarantor, 2 of 5 facilities
—
—
PersonSophie Larkin-Bourke35 · beneficiary, no directorship
Not a guarantor
—
—
Cameron guarantees two of the five facilities and Sophie guarantees none. That is a deliberate succession decision made in 2021, and it is the single most important fact about this group — it constrains which lender can be asked for what, and it is written down nowhere except in Angus's head and one email.
Facilities across the group
Four lenders, five facilities, three different security positions
| Facility | Borrower | Lender | Limit | Drawn | Security | Reviews | Status |
|---|---|---|---|---|---|---|---|
| Term loan | Larkin Family Trust | Rural lender A | $2,400,000 | $1,800,000 | First mortgage, 2 titles | Mar 2027 | Current |
| Seasonal overdraft | Larkin Pastoral Co | Rural lender A | $1,800,000 | $1,240,000 | Crop & GSA | Nov 2026 | Review in 84 days |
| Equipment finance ×3 | Larkin Pastoral Co | Lender B | $2,140,000 | $1,410,000 | The machines | — | Current |
| Livestock facility | Larkin Grazing | Lender C | $900,000 | $610,000 | Livestock & GSA | Feb 2027 | Current |
| SMSF loan | Larkin Super Fund | Lender D | $620,000 | $500,000 | One title, limited recourse | Jun 2028 | Current |
The seasonal overdraft reviews in November, three weeks after harvest. That review will be assessed on FY26 financials — the same financials that are three weeks late on the header deal.
Fourteen years, in one column
What the relationship has actually been worth
- First deal — irrigation upgrade
- Property purchase, 640 ha
- Water entitlement purchase
- Cameron joins as director
- Succession structure agreed
- Grazing company formed
- Header replacement
A new broker inheriting this group would take a week to reconstruct that history from emails. It is the difference between arriving informed and arriving with questions the client has answered four times.
Documents held, by entity
34 documents · the two missing ones are holding up a $1.18m deal
| Document | Entity | As at | Source | Age | Status |
|---|---|---|---|---|---|
| FY26 financial statements | Larkin Pastoral Co | — | Hollis & Reid | — | Outstanding 21 days |
| FY26 financial statements | Larkin Family Trust | — | Hollis & Reid | — | Outstanding 21 days |
| FY25 financial statements | All entities | 30 Jun 2025 | Hollis & Reid | 14 mo | Held |
| Water entitlement statement | Marrawee Water Holdings | 1 Jul 2025 | Client | 14 mo | Ageing |
| Livestock count & valuation | Larkin Grazing | 14 Aug 2026 | Independent | 11 d | Current |
| Title searches ×4 | Trust & Super Fund | 12 Aug 2026 | Automatic | 13 d | Current |
| Related party lease | Super Fund → Pastoral | 1 Jul 2023 | Client solicitor | 3 yr | Review due |
| Machinery schedule | Group | 13 Aug 2026 | Broker | 12 d | Current |
The related party lease is three years old and the SMSF holds the title. That is the sort of thing a credit analyst finds on a Friday afternoon, and it is better found now than during a $1.18m application in October.