Reliance Global Group Becomes Debt Free Following Retirement of 100% of Its Term Debt
Key Highlights
- ➤EZRA retired 100% of its term debt by repaying the Oak Street Funding loan
- ➤Term loan balance was approximately $4.4 million as of June 30, 2026
- ➤EZRA retains more than $6 million in cash after the repayment
- ➤Debt retirement eliminates approximately $1 million in annual principal, interest and fee payments
- ➤Loan payoff used $3.4 million from agency sales and $1.0 million of collateral cash, without issuing shares
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 Company’s next stage of growth.”
Repayment of Oak Street Funding Term Loan Eliminates Approximately $1 Million of Annual Principal, Interest and Fee Payments
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.
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