Australian prop crowdfunding firm DomaCom gets $100m lending line

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Australian prop crowdfunding firm DomaCom $100m lending lineProperty crowdfunding firm, DomaCom has partnered with many private lenders, receiving investment for a scheme with an initial lending line of $100 million.

In a statement, DomaCom chief executive Arthur Naoumidis said the lending facility would allow the company to purchase up to $250 million in property.

“We have been seeking a default lending solution for our platform for three years as it is clear that advisers are seeking to use debt to deliver long-term tax effective returns for their clients,” he said.

“In addition to the recently announced capacity to being able to crowdfund their own debt, advisers can now simply select the debt level they are seeking for a particular property investment and the DomaCom platform will manage the loan application process.”

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