Financing ·
Reliance Global Group retires $4.4M term loan with Oak Street Funding
EZRAReliance Global Group, Inc.
Reliance Global Group, Inc. has fully repaid its outstanding term loan with Oak Street Funding LLC, eliminating approximately $1 million in annual principal, interest, and service fee payments. The repayment was funded using proceeds from the sale of non-core agencies—Southwestern Montana Insurance Center and Altruis Benefit Consulting—and approximately $1.0 million of cash previously held as collateral. Following this transaction, the company holds more than $6 million in cash on its balance sheet and has no outstanding term debt. Reliance Global Group is an InsurTech company leveraging artificial intelligence and cloud computing to transform the insurance agency and brokerage industry.