SOURCE: IEG Holdings Corp.

IEG Holdings Corp.

September 19, 2014 10:19 ET

IEG Holdings Corporation dba Mr. Amazing Loans Signs Term Sheet for $100 Million Senior Debt Facility

CEO Paul Mathieson Secures $100M Term Sheet to Continue IEGH's Strong Consumer Finance Loan Book Growth Prior to Targeted NASDAQ Listing

LAS VEGAS, NV--(Marketwired - September 19, 2014) - IEG Holdings Corp. (PINKSHEETS: IEGH), today announced it has signed a Term Sheet for a new $100M senior debt facility from a leading Connecticut based Investment Management group who specialize in private equity and credit investments. The executed Term Sheet is a strong sign of confidence in IEGH's business model and growth strategy.

Key highlights of the proposed Senior Debt Facility include a 12% interest rate and 87.5% advance rate. In addition, up to 10% of the facility could be used to fund loans originated in Australia. IEGH expects to make further announcements regarding the re-launch of Australian operations in the near term. Both parties are aiming to close the $100M facility by late November 2014 and the identity of the proposed Lender will remain confidential until the closing date. Upon successful completion of legal documentation, the new facility will repay and replace the current $10m senior debt facility and allow the company to increase the growth of its loan book significantly faster than the current impressive growth rates.

Since launching online lending in July 2013, cumulative loan volume has increased by 1135% from $237,000 to $2,927,013 as at September 18, 2014. The rapid loan volume growth is being driven by leading online lending website, new joint venture arrangements with low acquisition cost lead sources and aggressive state license expansion.

Paul Mathieson, Chairman/CEO and Founder of IEG Holdings Corporation stated "This new $100 million facility will take IEGH to the next level and is another significant event in our development and growth plans. With increased access to funding we are aiming to capture market share from our public company, consumer finance peers who include Springleaf and OneMain Financial, subsidiary of Citigroup, as well as soon to be listed peer-to-peer lender Lending Club. Our short term monthly loan volume target is $3 million per month driven predominantly by continued state expansion and increased loan lead purchases."

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About IEG Holdings Corp.

IEG Holdings Corporation (PINKSHEETS: IEGH) provides unsecured consumer loans under the brand name "Mr. Amazing Loans" via its website After lending approximately $48 million to over 11,500 borrowers in Australia, the Company Founder and Chairman/CEO Paul Mathieson moved to the U.S. market in 2008 to replicate the successful business model. IEGH now operates online in the USA covering the 8 U.S. states of Nevada, Arizona, Illinois, Florida, Georgia, Missouri, Virginia and New Jersey. IEGH is rapidly expanding and plans to offer loans in 25 states covering approximately 250 million people equating to 80% of the US population by late 2014. The Company launched advertising for its online loan origination platform in mid-2013, partnering with top lead generators in the United States. The Company's loans range in value from $3,000 to $10,000 and have a term of four to five years with a 19.9% to 29.9% APR. Significant growth is expected from the online loan origination business, which is scaling much more rapidly and at a higher net margin than the previous brick-and-mortar business. IEGH intends to up-list to NASDAQ in April 2015. For more information about the Company, visit

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

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