SOURCE: IEG Holdings Corp.
LAS VEGAS, NV--(Marketwired - September 03, 2014) - IEG Holdings Corp. (PINKSHEETS: IEGH) announced that its CEO Paul Mathieson has been featured on the cover of the MicroCap Review Magazine with a four-page article in the Profiled Companies section on pages 8 through 11 of the issue. The digital version of the Summer/Fall 2014 issue of MicroCap Review Magazine, the Official Magazine for the MicroCap Stock Market, can be viewed at: www.MicroCapReview.com. Print copies are available upon request from MicroCap Review Magazine and also at over fifty global financial conferences annually.
Paul Mathieson, Chairman/CEO and Founder of IEG Holdings Corporation, stated, "IEGH is pleased to be gaining recognition in the US press and investment markets as a global leader in consumer finance. We plan to lend aggressively during the traditionally strongest consumer loan demand period between September and December after focusing on completing multiple new state license applications in July and August. Our aim is to maximize the number of potential customers post new license approvals at the lowest acquisition cost and with the optimum risk diversification. Our medium term monthly loan volume target is $3 million per month driven predominantly by continued state expansion and also by new loan lead sources."
Since launching online lending in July 2013, cumulative loan volume has increased by 1008% from $237,000 to $2,626,009 as at August 31, 2014 after lending a further $260,005 in August. The rapid loan volume growth is being driven by leading online lending website www.mramazingloans.com, new joint venture arrangements with low acquisition cost lead sources and aggressive state license expansion.
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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 www.mramazingloans.com. 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 www.investmentevolution.com.
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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