Renewed facility upsized by C$152.1 million and extended through January 2029

Provides additional financing capacity to support continued growth in Canada and fund new products expected to launch in Canada and the United States

TORONTO, Sept. 17, 2026 /CNW/ -- Momentum Financial Services Group, a provider of financial solutions under the Money Mart® brand, is pleased to announce the renewal and upsize of its secured loan facility with Ares Alternative Credit funds ("Ares"). As part of this renewal, Ares has increased its commitment from C$657.9 million to C$810 million, with an accordion feature providing up to an additional C$130 million. The facility has also been extended through January 2029.

Momentum logo.

The expanded facility reflects the significant growth Momentum has experienced in its Canadian business over the past year. The additional financing capacity will support the company's growing loan receivables portfolio and help fund new products expected to launch in Canada and the United States in the near future.

"This renewal builds on a longstanding and productive partnership with Ares and gives us the funding needed to keep pace with the growth we are seeing in Canada," said Peter Kalen, CEO of Momentum Financial Services Group. "It also positions us to bring new products to market in Canada and the U.S., expanding the range of financial solutions available to our customers and connecting them to money when they need it most."

"We are pleased to further extend our longstanding relationship with Momentum Financial Services Group as the company prepares to launch additional products in Canada and the U.S.," said Felix Zhang, Partner in Ares Alternative Credit. "As a scaled capital provider, we look forward to supporting the company's continued growth through this expanded facility."

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 the trusted brand, Money Mart®, 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 advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2026, Ares Management Corporation's global platform had over $671 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.ares.com.

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SOURCE Momentum Financial Services Group

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