Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Propel Holdings Launches Inclusive Canadian Credit Product, Fora
Propel Holdings Inc. (TSX: PRL), a Fintech company dedicated to credit inclusion, announced that it has entered the Canadian market with its new brand, Fora CreditTM (Fora) – “a convenient online credit solution for underserved Canadian consumers.”
- Currently available in Alberta and Ontario and Propel has plans to roll out Fora into additional provinces across the country in the coming months.”
- To support the growth of this new Canadian portfolio, Propel announced it has “secured a revolving credit facility with an aggregate initial capacity of approximately C$26 million shared between senior lender CWB Maxium Financial Inc., a part of the Canadian Western Bank Financial Group of companies (CWB), and junior lender Bastion Management and affiliates thereof (Bastion), an existing lender to Propel.”
See: What You Need to Know About Employee Loans in Down Round Times
Key features of Fora include:
- A flexible line of credit product that allows customers to draw from their available credit as needed;
- Simple online application that can be completed in minutes at www.foracredit.ca from any desktop, tablet or mobile device;
- Quick credit decisions using Propel’s proprietary AI algorithms and technology;
- Seamless online customer experience, including an easy-to-use self-service portal that customers can access 24/7 to manage their line of credit; and
- No origination fees, no annual fees, no late fees and no pre-payment penalties.
Clive Kinross, Propel’s Chief Executive Officer:
Consumers across the United States have trusted Propel and its operating brands for more than a decade to deliver flexible credit solutions and we are delighted to bring our offering home to Canadians. We fully expect that Fora will become a leading solution for the 25 per cent of Canadians who are unable to access credit through traditional financial institutions.
Continue to the full article --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
 |  |  |
Support NCFA by Following us on Twitter!Follow @NCFACanada  |
Related Posts
Canada’s Competition Problem: 7 Reasons- Solana Introduces AI Capabilities to Enhance User Experience and Adoption
- Waterloo’s startup engine is in hyper drive
- Fundable Acquires Mentorship Service Clarity.fm As Part Of Its New Launch Platform, Startups.co
- FoodShare Toronto crowdfunding $30,000 to install kitchen at its new Mount Dennis location
- ASC and FCAA adopt new prospectus exemption to support small business capital raising
Leave a Reply