Business
Momentum Financial Services Group Secures C$657.9 Million Loan Facility Renewal with Ares Management to Support Growth
Momentum Financial Services Group, a provider of a variety of financial solutions under the Money Mart® and The Check Cashing Store® brands, is pleased to announce the successful renewal and upsize of its secured loan facility with Ares Management Alternative Credit funds ("Ares"). As part of this renewal, Ares has increased its commitment from C$575 million to C$657.9 million.
About this update from Ares Management Corporation
[{"type":"text","content":"With an expanded C$657.9 million loan facility from Ares Management Alternative Credit funds, Momentum Financial Services Group reinforces its commitment to funding growth, enhancing liquidity, and meeting the evolving financial needs of its North American Money Mart customers.","length":278,"tagName":"p","attribs":{}},{"type":"text","content":"TORONTO, June 24, 2025 /CNW/ - Momentum Financial Services Group, a provider of a variety of financial solutions under the Money Mart® and The Check Cashing Store® brands, is pleased to announce the successful renewal and upsize of its secured loan facility with Ares Management Alternative Credit funds ("Ares"). As part of this renewal, Ares has increased its commitment from C$575 million to C$657.9 million.","length":421,"tagName":"p"},{"type":"image","alt":"Momentum Financial Services Group (CNW Group/Momentum Financial Services Group)","displaySize":"","headline":null,"caption":"Momentum Financial Services Group (CNW Group/Momentum Financial Services Group)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":150,"url":"https://media.zenfs.com/en/cnwgroup.com/17789789e3914caa169f790116b32b2e"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/4gzK0w.wS3Fb34a2yjwovg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI2NDtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/17789789e3914caa169f790116b32b2e","width":400,"height":150}},"href":"https://mma.prnewswire.com/media/2716977/Momentum_Financial_Services_Group_Momentum_Financial_Services_Gr.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"With the expansion of its credit facility, Momentum Financial Services Group now has additional capital to fund its growing loan receivables portfolio and meet the needs of its North American customers. The additional funds will be used to repay the 2023 secured loan facility and fuel further expansion in eligible loan receivables.","length":333,"tagName":"p"},{"type":"text","content":""By partnering with Ares, we are paving the way for our future growth and reinforcing our commitment to connecting consumers to cash when they need it most," said Peter Kalen, CEO of Momentum Financial Services Group. "With increased access to capital, we are well-positioned to meet rising demand, expand our lending capabilities, and continue empowering ou...