TORONTO, April 29, 2026 /CNW/ - Propel Holdings Inc. ("Propel") (TSX: PRL), the fintech facilitating access to credit for underserved consumers, today announced an amendment to and upsize (the "Amendment") of its existing credit facility for its Canadian business, Fora (the "Fora Credit Facility").

Pursuant to the Amendment, the commitment under the Fora Credit Facility increased to C$40 million from approximately C$26 million. The Fora Credit Facility will bear interest equal to the prime rate plus 275 basis points per annum, representing a reduction in the cost of the facility by approximately 200 basis points.

"This Amendment lowers our cost of capital and supports the ongoing growth of our Canadian business. It reflects the strength of our platform, our demonstrated performance and continued momentum in Canada and globally. Now, more than ever, we are committed to providing credit and building opportunities for underserved consumers" said Clive Kinross, Chief Executive Officer.

About Propel

Propel Holdings (TSX: PRL) the fintech building a new world of financial opportunity for consumers, partners, and investors. Propel's operating brands — Fora Credit, CreditFresh, MoneyKey and QuidMarket — together with Propel Bank facilitate access to credit for consumers underserved by traditional financial institutions. Through its AI-powered 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. The revolutionary fintech platform has already helped consumers access almost 2 million loans and lines of credit and almost 3 billion dollars in credit. At Propel, we are here to change the way customers, partners and investors succeed together. Learn more at www.propelholdings.com

Forward-Looking Information

Certain information contained in this press release may constitute forward-looking information under applicable securities laws, including statements related to the ongoing growth of Propel's  Canadian business and Propel's commitment to providing credit and building opportunities for underserved consumers in Canada and other statements that are not historical facts. Often but not always, forward-looking statements can be identified by the use of forward-looking terminology such as "may", "will", "expect", "believe", "estimate", "plan", "could", "should", "would", "outlook", "forecast", "anticipate", "foresee", "continue" or the negative of these terms or variations of them or similar terminology. This information is based on management's reasonable assumptions and beliefs in light of the information currently available to us and is made as of the date of this press release.

Many factors could cause Propel's actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the factors discussed in the "Risk Factors" section of the Company's annual information form dated March 2, 2026 for the year ended December 31, 2025 (the "AIF"). A copy of the AIF and the Company's other publicly filed documents can be accessed under the Company's profile on SEDAR+ at www.sedarplus.ca.

SOURCE Propel Holdings Inc.