Sezzle amends WebBank loan, receivables sale agreement, lifts minimum tangible net worth covenant to $100 million

Reuters2026/08/18 20:55

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

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Sezzle Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001662991-26-000144), on August 18, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Sezzle amends WebBank loan, receivables sale agreement, lifts minimum tangible net worth covenant to $100 million

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