Reliance Global amends Oak Street credit agreement to apply $1.21 million SMI sale proceeds to term loan paydown
RELI•Fee and closing conditions
The amendment included a $15,000 fee, subject to customary closing conditions.
$1.21 million must go to term loan repayment
About $1.21 million of proceeds must repay term loan Loan ID 121393; Oak Street will release SMI as a borrower.
Oak Street will also release liens on SMI assets once the loan paydown is received.
Credit agreement amended to revise SMI sale proceeds use
Reliance Global Group subsidiaries amended a master credit agreement with Oak Street Funding on Sept. 4, 2026, tied to a planned SMI sale.
The amendment lets 50% of sale proceeds be retained, replacing a prior requirement to use all proceeds for repayment.
