Momentum Financial Services Renews Loan Facility with Ares for C$810 Million to Support Growth
Momentum Financial Services Group has renewed and upsized its secured loan facility with Ares Alternative Credit funds, increasing the commitment from C$657.9 million to C$810 million. The agreement includes an accordion feature allowing up to an additional C$130 million in financing and extends through January 2029. The expanded facility is intended to support Momentum's growing loan receivables portfolio, as well as fund new financial products expected to launch in Canada and the United States. Peter Kalen, CEO of Momentum Financial Services Group, emphasized that this renewal strengthens their partnership with Ares and enables them to meet increasing demand for services. Ares Alternative Credit expressed confidence in supporting Momentum's continued growth through the expanded facility. Felix Zhang from Ares noted the company’s readiness to launch new products across North America.
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