Momentum Financial Services Group Secures C$657.9 Million Loan Facility Renewal with Ares Management to Support Growth
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.
TORONTO, June 24, 2025 /PRNewswire/ - 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.
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.
"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 our customers with the financial solutions on which they rely."
"We are excited to continue our longstanding relationship with the team at Momentum Financial Services Group," said Felix Zhang, Partner in the Ares Alternative Credit strategy. "As a scaled capital provider, Ares Alternative Credit looks forward to supporting the continued growth of Momentum and its portfolio of Canadian and U.S. consumer loans."
Momentum Financial Services Group
Momentum Financial Services Group is a leading provider of accessible financial solutions, dedicated to empowering individuals and families to achieve their goals. As the team behind trusted brands like Money Mart® and The Check Cashing Store®, making up over 360 stores in Canada and 60 in the United States, Momentum specializes in providing flexible omni-channel solutions that fit real-life needs, whether it's a quick personal loan, cheque cashing, money transfers, or currency exchange.
Operating across North America, Momentum Financial Services Group leverages decades of expertise to meet the evolving needs of their customers. Momentum's mission is to provide fast, flexible, and reliable financial tools, helping communities thrive with confidence and security.
For more information, visit www.mfsg.com.
Ares Management Corporation
Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2025, Ares Management Corporation's global platform had approximately $546 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.
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SOURCE Momentum Financial Services Group