Holdings is a FinTech company that gives customers access to credit in the US.
In accordance with a press release released by Propel on Monday, Nov. 21, Fora Credit is currently available in Alberta and Ontario and will soon be available in more provinces.
Consumers across the United States have trusted Propel and its operational brands for more than ten years to provide flexible credit options, and we are happy to bring our product home to Canadians, according to to Propel CEO Clive Kinross. We have high expectations that Fora will become a go-to resource for the 25% of Canadians who encounter difficulties obtaining loans from traditional banking institutions.
According to a press release, Fora includes a digital application that allows users to apply for personal lines of credit and aims to help those who haven’t been able to access credit through conventional financial institutions by utilizing Propel’s existing technology infrastructure and artificial intelligence (AI) capabilities.
According to the statement, Propel’s self-service site makes it simple for consumers to manage their line of credit while its AI algorithms and technologies enable it to give speedy credit judgments.
In order to support the expansion of the new Canadian portfolio, the firm has also obtained a revolving credit facility shared by senior lender CWB Maxium Financial and junior lender Bastion Management.
