Reliance Global Group, Inc. (Nasdaq: EZRA) announced on October 5, 2026, that it has retired its only outstanding term debt. The company repaid its term loan with Oak Street Funding LLC in full, resulting in a debt-free balance sheet.
The term loan had an outstanding balance of approximately $4.4 million as of June 30, 2026. The repayment was funded through a combination of proceeds from the sale of non-core agencies and cash previously held as collateral. Specifically, the company used approximately $1.2 million from the sale of the Southwestern Montana Insurance Center, which closed on September 11, 2026, and approximately $2.2 million from the sale of Altruis Benefit Consulting, which closed on September 24, 2026. Additionally, approximately $1.0 million of cash held as loan collateral was applied toward the payoff.
Following the repayment, Reliance Global Group reports having more than $6 million of cash on its balance sheet. The company states that this action eliminates approximately $1 million in annual principal, interest, and service fee payments, including roughly $400,000 in annual interest and fees.
Ezra Beyman, Chairman and Chief Executive Officer, stated that retiring the term debt has been a priority since the company began monetizing its non-core agencies. The company indicated that the repayment strengthens its balance sheet and provides greater flexibility for future growth initiatives.
