Reliance Global Group Reduces Debt by 50%, Cutting Annual Debt Service by Over $1.8 Million

LAKEWOOD, NJ, July 10, 2025 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: RELI) (“Reliance,” “we,” “us,” “our” or the “Company”) today announced that it has repaid approximately $5.55 million, or approximately 50% of its long term debt, a strategic action that reduces its leverage, strengthens its balance sheet, and enhances financial flexibility. The repayments were funded through proceeds from the recently announced asset sale of Fortman Insurance Services, a wholly owned subsidiary, which generated $5.0 million in cash for the Company, with the remainder coming from the release of cash collateral held in our restricted cash accounts. As a result, annual principal, interest and service fee payments are expected to decline from approximately $2.95 million to $1.1 million — a reduction of over $1.8 million, or 61%.

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