SOURCE: IEG Holdings Corp.

November 03, 2014 08:34 ET

Paul Mathieson, IEG Holdings Corporation Chairman, Announces Record Mr. Amazing Loans' Loan Volumes and First IEGH Institutional Investor

IEGH Breaks All Previous US Loan Volume Records With $1.05 Million of New Loans for Month of October

LAS VEGAS, NV--(Marketwired - November 03, 2014) -  IEG Holdings Corp. (PINKSHEETS: IEGH), announced a new record high for monthly loan volume of $1,048,005 in October up 2520% from $40,000 in January. Since launching online lending in July 2013, cumulative loan volume has increased by 1714% from $237,000 to $4,299,020. 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 continued state license expansion.

Paul Mathieson, Chairman/CEO and Founder of IEG Holdings Corporation stated "We are pleased to have set new loan volume records in October and look forward to loan volume growth accelerating further post the closing of our new $100m debt facility and the approval of additional state licenses. Our near term monthly loan volume target is $3 million per month driven predominantly by continued state expansion and also by new online lead sources. We are also pleased to have secured our first Institutional Investor which is a strong endorsement of both the success of IEGH to date and our future growth strategy."

First IEGH Institutional Investor

IEGH is pleased to announce that it has secured an investment by its first Institutional Investor -- Cape One Master Fund II in both IEGH Common Stock and Series F 12% yielding Convertible Preferred Shares. Cape One is New York based and focused on investing in structured investments of publicly traded companies. These investments take the form of debt, convertible debentures, common and preferred stock.

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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 early 2015. The Company launched advertising for its online loan origination platform in mid-2013, partnering with top lead generators in the United States. The Company offers loans of $5,000 or $10,000 over a term of 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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