Sezzle amends WebBank loan, receivables sale agreement, lifts minimum tangible net worth covenant to $100 million
SEZL•SEZL•SEZL•SEZL•Sezzle entered amended and restated bank program agreements with WebBank on Aug. 12, 2026, updating its consumer loan financing structure.
The expansion adds SezzleCash cash advances and the Sezzle Send payments product funded by installment loans disbursed to WebBank deposit accounts.
WebBank will retain these new-product loans to maturity up to $30 million, with discretion to lift the cap to $150 million.
The minimum tangible net worth covenant was raised to $100 million from $12 million. The new terms also add termination triggers tied to large judgments or covenant breaches.
WebBank remains the exclusive loan originator, Sezzle continues servicing, and the program term remains unchanged through Sept. 27, 2029.
