Raptis puts up finance

THE camp of developer Jim Raptis has been wearing a funder’s hat in the 32-year-old listed Raptis Group’s latest revival.

It’s emerged that entities linked to Jim have lent the group $2.19 million, unsecured and interest-free, for a comeback Springwood townhouse project, which is a sellout.

By June 30 the Raptis Group also had borrowed $10.6 million at far from ‘free’ rates – the interest bill stood at $2.332 million.