Propel announces upsized $330 million syndicated credit facility
Summary
With the upsize, the total commitment for the credit facility is $330 million.CreditFreshs loan portfolio has experienced incredibly strong growth over the past several years driven by the expansion of its bank partnerships and delivery of best-in-class products for the underserved market in the US. The continued support from large, institutional lenders, such as Bastion and Hudson Cove, and the addition of new industry-leading banks to the syndicate, is a testament to Propels strong fundamentals and performance. We are incredibly confident in our ability to continue our growth trajectory and deliver value to our investors and partners," said Clive Kinross, Propels Chief Executive Officer.Propel Holdings (TSX: PRL) is the fintech company building a new world of financial opportunity for consumers, partners, and investors. Through its groundbreaking AI-driven platform, Propel evaluates customers in a more comprehensive way than traditional credit scores can. The result is better products and an expanded credit market for consumers while creating sustainable, profitable growth for Propel.