IEG Holdings Corp. is a provider of online unsecured
consumer loans in 13 states under the ‘Mr. Amazing Loans’ brand. In recent
months, the company has leveraged this proven business model to record improved
financial results. Since launching its online lending platform in July 2013,
IEG has increased its cumulative loan value by well over 3,200 percent,
exceeding $8 million in May. This rapid growth is being driven by the company’s
continued state licensing expansion, which is expected to include an additional
12 states by the end of 2015, including California and Ohio. Following these
efforts, IEG expects its lending coverage to encompass approximately 80 percent
of the U.S. population.
In addition to its domestic growth, IEG has recently made
strides toward expanding its presence in the global lending market. In
December, the company announced the re-launch of lending in Australia under the
‘Mr. Amazing Loans’ brand, as well as detailing plans to add an additional 1.45
billion people to its lending network through a commitment to international
development. In particular, IEG has highlighted Canada, United Kingdom,
Philippines and India as expansion candidates because of their strong market
demand and developed lending industry.
The company’s continued commitment to increasing its market
share has provided a platform for tremendous revenue growth in recent quarters.
In the first quarter of 2015, IEG recorded interest revenue of nearly $340,000,
a year-over-year boost of more than 1,000 percent. Moving forward, this figure
is expected to grow significantly in concert with the continued geographical
expansion of IEG’s lending services.
In June, IEG took a step toward the future when it upgraded
from the OTC market group’s OTC Pink tier to the OTCQB tier. The company will
look to build on this progress in the future by potentially uplisting to the
NASDAQ Global Markets. IEG announced the submittal of an application for this
change in May.
“It is exciting to become an SEC reporting company, continue
our rapid expansion… and achieve record loan volumes,” Paul Mathieson, chairman
and chief executive officer of IEG, stated in a news release. “By late 2015, we
hope to be in a position to offer loans in 25 states, covering approximately 25
million people.”
For prospective shareholders, IEG’s rapid growth since
launching its lending platform just under two years ago makes the company an
intriguing investment opportunity in the months to come.
For more information, visit www.investmentevolution.com
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