Reliance Global Group Becomes Debt Free Following Retirement of 100% of Its Term Debt
Key Highlights
- ➤$4.4 million term loan fully repaid, eliminating all outstanding term debt
- ➤More than $6 million cash remains on balance sheet after repayment
- ➤Debt payoff eliminates approximately $1 million in annual principal, interest and service payments
- ➤Asset sales funded repayment without issuing shares
- ➤Approximately $400,000 of annual interest and service fees eliminated
Expert Statements
Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group
“Retiring our term debt has been a priority since we began monetizing our non-core agencies, and doing so this month strengthens our balance sheet in a meaningful way.”
Ezra Beyman, Chairman and Chief Executive Officer of Reliance Global Group
“With the loan repaid, more of our cash can go toward our AI platform and the RELI Exchange network, and we have greater flexibility as we plan the Companys next stage of growth.”
LAKEWOOD, NJ, Oct. 05, 2026 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: EZRA) ("Reliance," "EZRA" or the "Company"), an InsurTech company leveraging artificial intelligence, cloud computing and advanced technologies to transform the insurance agency/brokerage industry, today announced that it has repaid in full its term loan with Oak Street Funding LLC, which was the Company's only term debt. As a result of the repayment, the Company has no outstanding term debt. The term loan had an outstanding balance of approximately $4.4 million as of June 30, 2026. Following the repayment, the Company has more than $6 million of cash on its balance sheet.
The loan was repaid with approximately $1.2 million from the sale of Southwestern Montana Insurance Center, which closed on September 11, 2026, approximately $2.2 million from the sale of Altruis Benefit Consulting, which closed on September 24, 2026, and approximately $1.0 million of cash previously held as collateral for the loan.
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