Rent.com.au (ASX:RNT) launched RentBond loans to customers, having reached financial close on its AU$10 million funding facility, according to a Tuesday filing with the Australian bourse.

The initial AU$1.6 million has been drawn against the senior secured facility, with monthly drawdowns planned and interest only paid on the drawn balance, the filing said.

RentBond applications were processed using the new self-funding system, with the first revenue recognition expected in August, according to the filing.