IEG Holdings Corp. (IEGH)

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IEG Holdings Corp. (IEGH)

Postby QualityStocks » Mon Jan 08, 2018 4:07 pm

IEG Holdings Corp. is a publicly traded, global leader in consumer finance providing small-sized online personal loans in the United States via a state-licensed operating subsidiary, Investment Evolution Corporation, under the consumer brand "Mr. Amazing Loans." Based in Las Vegas, the company originates consumer loans in 20 states: Alabama, Arizona, California, Florida, Georgia, Illinois, Kentucky, Louisiana, Maryland, Missouri, Nevada, New Jersey, New Mexico, Ohio, Oregon, Pennsylvania, Texas, Utah, Virginia and Wisconsin via its online platform and distribution network. IEGH is a licensed direct lender with state licenses and/or certificates of authority to lend in each state and offers all loans within the prevailing statutory rates.

Mr. Amazing Loans is a leading FinTech company specializing in dedicated loan amounts of $5,000 to $10,000 offered directly to consumers through an easy-to-use website known for its professional interaction with applicants. All loans are originated, processed and serviced out of the company's Las Vegas corporate offices, eliminating the need for physical locations in each state where IEGH is licensed to conduct business. The company's loans are unsecured consumer loans that mature in five years at interest rates significantly less than those of payday lenders. Consumers are able to receive same-day processing and are assured of no hidden or additional fees, no prepayment penalty, with repayment and interest rates fixed at 29.9% or less Annual Percentage Rate (APR) for the life of the loan.

The Center for Responsible Lending states the typical payday loan has rates ranging from 391% to 521% APR on loans that typically range from $100 to $1,000. Conversely, Mr. Amazing Loans's terms are designed with low fixed repayments to fit into consumer budgets with the added goal of helping clients reach a stronger financial position. Loan funds are deposited directly into an approved consumer's checking account and may be approved the same day after necessary application documentation is received.

IEG Holdings has also incorporated Investment Evolution Crypto, LLC., a 100 percent owned subsidiary, and tasked the new company with exploring business opportunities in the cryptocurrency/blockchain industry. Specifically, the subsidiary company will explore the legalities and economic risks of entering into a joint venture with IEGH's other 100 percent owned subsidiary company, Investment Evolution Corporation dba Mr. Amazing Loans. Among the questions to be answered during this development planning stage are whether Mr. Amazing Loans should accept repayment of customer loans in the form of leading crypto/blockchain currencies such as Bitcoin, provide the equivalent of USD $5,000 and $10,000 loans to consumers in cryptocurrencies, and potentially create and issue an Investment Evolution cryptocurrency.

Paul Mathieson, IEG Holdings' chairman and Chief Executive Officer, has over 19 years of finance industry experience in lending, funds management, stock market research and investment banking. He has been a member of the board of directors at IEGH since 2012 and of its subsidiary since 2009. Mathieson founded IEG Holdings Limited in Sydney, Australia, launching the Amazing Loans business in that country in 2005 and then in the United States via IEGC in 2010. He was awarded Ernst & Young's 2007 Australian Young Entrepreneur of the Year (Eastern Region). Mathieson is joined by Carla Cholewinski, who serves as chief operating officer with over 37 years of experience in the finance industry including banking, credit union management, regulatory oversight, debt securitization and underwriting.
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Re: IEG Holdings Corp. (IEGH)

Postby QualityStocks » Mon Jan 08, 2018 6:10 pm

NetworkNewsBreaks – IEG Holdings Corp. (IEGH) Commences Tender Offer for Stake in LendingClub Corporation (NYSE: LC), Highlights “Flawed” Business Model

Consumer loan provider IEG Holdings Corp. (OTCQB: IEGH) this morning announced the commencement of a tender offer for shares of LendingClub Corporation (NYSE: LC) by which the company aims to exchange 13 shares of its common stock for each share of LendingClub, up to an aggregate of just over 20 million shares, or 4.99 percent of LendingClub’s outstanding shares. In the news release, IEGH identified what it believes to be a number of major risks and problems with the LendingClub business model and management, including weak underwriting standards, lack of company-owned state lending licenses, unsustainable funding sources, excessive cost structure and poor stock market performance. “We ask LendingClub shareholders to consider whether they wish to move forward with an improved online balance sheet lender model aimed at the future or continue to support what we believe to be a flawed ‘broker’ business model,” Paul Mathieson, chairman and chief executive officer of IEGH, stated in the news release. “Weak underwriting standards, tiny gross margins and large, continuing losses is a recipe for disaster.” IEG Holdings believes that changing LendingClub’s business model to a balance sheet lender model would enable the company to generate significantly higher gross margins, provide significantly higher long duration cash flow from customers, build increased goodwill with customers and enable increased customer refinancing.
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Re: IEG Holdings Corp. (IEGH)

Postby QualityStocks » Wed Jan 10, 2018 7:00 pm

NetworkNewsBreaks – IEG Holdings Corp. (IEGH) Unveils Plans for New Cryptocurrency

Consumer loan provider IEG Holdings Corp. (OTCQB: IEGH), through wholly owned subsidiary Investment Evolution Crypto, LLC, this morning announced that it is negotiating to purchase a gold project with gold metal in the ground and prospecting licenses. IEG Holdings intends to utilize this gold resource to investigate creating its own gold metal-backed cryptocurrency, potentially offering loans and accepting loan repayments in the new blockchain-based currency. “Unlike Bitcoin, Ripple, Ethereum and Litecoin etc., IEGH’s crypto currency is planned to be backed by gold metal and registered with the SEC as a security,” Paul Mathieson, chairman and CEO of IEGH, stated in the news release. “We believe potentially combining the exciting new blockchain technology with the hard asset of gold metal, expected SEC registration, a leading sophisticated online consumer finance system and individual US state lending licenses is a very exciting proposition. In addition, we believe the future leaders of the crypto/blockchain sector will be companies that are materially compliant with all the existing and future related US government legislation. We aim for IEGH to leverage off its existing fintech business credentials, specifically its extensive experience in online consumer loans, to potentially be a key player in the crypto/blockchain sector.”
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Re: IEG Holdings Corp. (IEGH)

Postby QualityStocks » Thu Jan 11, 2018 6:31 pm

IEG Holdings Corp. (IEGH) Commences Tender Offer for 4.99% of the Common Shares of LendingClub Corporation (NYSE: LC)

- Offer to expire on February 22, 2018, and represents 4.99 percent of outstanding common shares as of October 31, 2017
- Transaction calls for exchange of 13 shares of IEG Holdings common stock for each share of LendingClub, up to an aggregate of 20.7 million shares
- IEGH sees tender offer as a solid short-term investment for its own shareholders

IEG Holdings Corporation (OTCQB: IEGH) recently announced (http://nnw.fm/4dXAB) that it has begun a tender offer for 4.99 percent of the common shares of LendingClub Corporation (NYSE: LC). The offer, set to expire on February 22, 2018, is for up to an aggregate of 20,701,999 common shares. The transaction calls for the exchange of 13 shares of IEG Holdings common stock for each share of LendingClub.

IEGH believes that the offer is a solid short-term investment for its shareholders. In connection with the offer, IEG Holdings prepared a Letter of Transmittal and submitted a form S-4 with the SEC.

Las Vegas-based IEG Holdings provides $5,000 and $10,000 unsecured consumer loans under the brand name ‘Mr. Amazing Loans’ through its website, www.MrAmazingLoans.com. It is licensed and/or holds certificates of authority to originate direct consumer loans in 20 states. The company provides loans through its online application portal to residents of those states, with all loans originated, processed and serviced out of its centralized Las Vegas head office.

ACF Equity Research, on January 4, 2018, estimated that IEG Holdings revenues in 2018 will reach $2,911,000, compared to $2,135,046 actual in 2016 (http://nnw.fm/v5Tsk). The research report noted that ACF also estimates a high 80 percent repeat loan business for the company.

LendingClub (http://nnw.fm/lYN8d) offers loans of up to $40,000 for consumers, as well as small business loans of up to $300,000. It is an online marketplace connecting borrowers and investors. It began operations in 2007.

For more information, visit the company’s website at www.InvestmentEvolution.com
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Re: IEG Holdings Corp. (IEGH)

Postby QualityStocks » Fri Jan 12, 2018 9:18 pm

IEG Holdings Corp. (IEGH) is “One to Watch”

- State-licensed online unsecured consumer loan company
- Attractive alternative to expensive payday lenders
- Cumulative loan volume increased to more than $16 million end of 2017
- Since January 2015, cumulative loan volume has increased by 192%

IEG Holdings Corp. (OTCQB: IEGH) is a publicly traded, global leader in consumer finance providing small-sized online personal loans in the United States via a state-licensed operating subsidiary, Investment Evolution Corporation, under the consumer brand “Mr. Amazing Loans.” Based in Las Vegas, the company originates consumer loans in 20 states: Alabama, Arizona, California, Florida, Georgia, Illinois, Kentucky, Louisiana, Maryland, Missouri, Nevada, New Jersey, New Mexico, Ohio, Oregon, Pennsylvania, Texas, Utah, Virginia and Wisconsin via its online platform and distribution network. IEGH is a licensed direct lender with state licenses and/or certificates of authority to lend in each state and offers all loans within the prevailing statutory rates.

Mr. Amazing Loans is a leading FinTech company specializing in dedicated loan amounts of $5,000 to $10,000 offered directly to consumers through an easy-to-use website known for its professional interaction with applicants. All loans are originated, processed and serviced out of the company’s Las Vegas corporate offices, eliminating the need for physical locations in each state where IEGH is licensed to conduct business. The company’s loans are unsecured consumer loans that mature in five years at interest rates significantly less than those of payday lenders. Consumers are able to receive same-day processing and are assured of no hidden or additional fees, no prepayment penalty, with repayment and interest rates fixed at 29.9% or less Annual Percentage Rate (APR) for the life of the loan.

The Center for Responsible Lending states the typical payday loan has rates ranging from 391% to 521% APR on loans that typically range from $100 to $1,000. Conversely, Mr. Amazing Loans’s terms are designed with low fixed repayments to fit into consumer budgets with the added goal of helping clients reach a stronger financial position. Loan funds are deposited directly into an approved consumer’s checking account and may be approved the same day after necessary application documentation is received.

IEG Holdings has also incorporated Investment Evolution Crypto, LLC., a 100 percent owned subsidiary, and tasked the new company with exploring business opportunities in the cryptocurrency/blockchain industry. Specifically, the subsidiary company will explore the legalities and economic risks of entering into a joint venture with IEGH’s other 100 percent owned subsidiary company, Investment Evolution Corporation dba Mr. Amazing Loans. Among the questions to be answered during this development planning stage are whether Mr. Amazing Loans should accept repayment of customer loans in the form of leading crypto/blockchain currencies such as Bitcoin, provide the equivalent of USD $5,000 and $10,000 loans to consumers in cryptocurrencies, and potentially create and issue an Investment Evolution cryptocurrency.

Paul Mathieson, IEG Holdings’ chairman and Chief Executive Officer, has over 19 years of finance industry experience in lending, funds management, stock market research and investment banking. He has been a member of the board of directors at IEGH since 2012 and of its subsidiary since 2009. Mathieson founded IEG Holdings Limited in Sydney, Australia, launching the Amazing Loans business in that country in 2005 and then in the United States via IEGC in 2010. He was awarded Ernst & Young’s 2007 Australian Young Entrepreneur of the Year (Eastern Region). Mathieson is joined by Carla Cholewinski, who serves as chief operating officer with over 37 years of experience in the finance industry including banking, credit union management, regulatory oversight, debt securitization and underwriting.

For more information, visit the company’s website at www.InvestmentEvolution.com
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Re: IEG Holdings Corp. (IEGH)

Postby QualityStocks » Mon Jan 22, 2018 5:12 pm

IEG Holdings Corp. (IEGH) is Lending to the Under-Banked in 20 US States

- Offering consumer loans in 20 states
- Robust underwriting standards
- Successful track record in the industry

Despite living in the country with the world’s most sophisticated financial system, 16 million American adults are ‘unbanked’, according to the latest ‘Report on the Economic Well-Being of U.S. Households’ issued by the Board of Governors of the Federal Reserve System (http://nnw.fm/29Obr). Unbanked consumers are those without “a checking, savings, or money market account.” In addition, another 43 million or so are ‘under-banked’, defined as having a deposit account but also using at least one alternative financial service in the prior year. Yet prick the people who fall into these two market segments and, like their better-banked brethren, they will bleed, being no different. That similarity extends to their need for certain banking services, such as the personal loans offered by IEG Holdings Corp. (OTCQB: IEGH). The Nevada-based company offers loan products, under the label ‘Mr. Amazing Loans’, to residents of 20 states.

Who hasn’t needed, at some point, a personal loan for an emergency or to finance some venture? Yet banks are notoriously finicky. As Bob Hope once observed, “A bank is a place that will lend you money if you can prove you don’t need it.” Moreover, non-bank lenders charge usurious rates. The typical payday loan has rates ranging from 391 percent to 521 percent annual percentage rate (APR) on loans ranging from $100 to $1,000, according to the Center for Responsible Lending.

Conversely, the rates offered by Mr. Amazing Loans are affordable and designed with low, fixed repayments to fit into consumer budgets, with the added goal of helping clients reach a stronger financial position. The company offers $5,000 and $10,000 personal loans over a five-year term at rates ranging from 12.0 percent to 29.9 percent APR in 20 states, including Alabama, Arizona, California, Florida, Georgia, Illinois, Kentucky, Louisiana, Maryland, Missouri, Nevada, New Jersey, New Mexico, Ohio, Oregon, Pennsylvania, Texas, Utah, Virginia and Wisconsin.

Thoughtful underwriting standards separate gold from the straw. To be eligible, a consumer must, among other criteria, have a minimum gross annual income of $40,000, a minimum credit score of 600 and a steady employment history. Loans are originated, processed and serviced out of the company’s Las Vegas corporate offices, which eliminates the need for IEGH to have a brick-and-mortar office in each state where it is licensed to conduct business. Consumers are able to receive same-day processing and are assured of no hidden or additional fees, no prepayment penalties and reasonable interest rates.

IEGH has a 6 1/2-year track record of originating, underwriting and servicing personal loans to under-banked consumers. It has become adept, through that experience and knowledge in the consumer finance industry, at achieving a meaningful return on its loan portfolio. In addition, the company has the clout to attract capital markets financing, as it has signaled with recent private placements of common and preferred stock. IEGH has two wholly-owned subsidiaries, IEC, its U.S. operating entity that holds all its state licenses, leases, employee contracts and other operating and administrative assets, and IEC SPV, a bankruptcy remote special purpose entity that holds the U.S. loans. The company recently introduced a third subsidiary, Investment Evolution Crypto, LLC.

Paul Mathieson, IEG Holdings chairman and chief executive officer, has over 22 years’ experience in lending, funds management, stock market research and investment banking. Mathieson founded IEG Holdings Limited in Sydney, Australia, launching the Mr. Amazing Loans business in that country in 2005 and then in the United States via IEGC in 2010. He was awarded Ernst & Young’s 2007 Australian Young Entrepreneur of the Year (Eastern Region). Mathieson is joined by Carla Cholewinski, who serves as chief operating officer with over 37 years of experience in the finance industry, including banking, credit union management, regulatory oversight, debt securitization and underwriting.

For more information, visit the company’s website at www.InvestmentEvolution.com
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Re: IEG Holdings Corp. (IEGH)

Postby QualityStocks » Mon Jan 22, 2018 5:32 pm

NetworkNewsBreaks – IEG Holdings Corp. (IEGH) Views Current Tender Offer as Solid Short-term Investment for Shareholders

IEG Holdings (OTCQB: IEGH), a provider of unsecured consumer loans, recently announced a tender offer to exchange 13 shares of the company’s common stock for each share of common stock of LendingClub Corp. (NYSE: LC). An article discussing the offer reads: “IEG Holdings Corporation (OTCQB: IEGH) recently announced (http://nnw.fm/4dXAB) that it has begun a tender offer for 4.99 percent of the common shares of LendingClub Corporation (NYSE: LC). The offer, set to expire on February 22, 2018, is for up to an aggregate of 20,701,999 common shares. The transaction calls for the exchange of 13 shares of IEG Holdings common stock for each share of LendingClub. … IEGH believes that the offer is a solid short-term investment for its shareholders.”
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Re: IEG Holdings Corp. (IEGH)

Postby QualityStocks » Tue Jan 23, 2018 5:27 pm

NetworkNewsBreaks – IEG Holdings Corp. (IEGH) Pushes for Negotiations Related to LendingClub Offer

Consumer loan provider IEG Holdings Corp. (OTCQB: IEGH) this morning issued a news release urging LendingClub Corporation (NYSE: LC) to enter negotiations related to the former’s tender offer to acquire approximately 4.99 percent of LendingClub’s outstanding shares. The offer, which is scheduled to expire on Thursday, February 22, 2018, comes as IEGH has identified what it believes to be “major risks and problems” with LendingClub’s business model and management strategy. IEGH believes that by altering this model to a balance sheet lender model, LendingClub would be able to generate significantly higher margins, provide substantially higher long duration cash flow, build increased goodwill with customers and enable increased customer refinancing. IEGH also highlights blockchain technology as a means of increasing LendingClub’s cash flow security and transparency. IEGH’s tender offer calls for the exchange of 13 shares of IEGH common stock for each share of LendingClub common stock, up to an aggregate of 20,701,999 LendingClub shares.
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Re: IEG Holdings Corp. (IEGH)

Postby QualityStocks » Fri Jan 26, 2018 8:17 am

IEG Holdings Corp. (IEGH) Exploring Creation of Gold Metal-backed Cryptocurrency

- Negotiations underway to purchase a verified gold project with prospecting licenses
- IEGH’s cryptocurrency to be backed by gold metal, registered with SEC as a security
- Volatility of cryptocurrency could potentially be stabilized with precious metal backing

Consumer loan provider IEG Holdings Corp. (OTCQB: IEGH), through wholly owned subsidiary Investment Evolution Crypto, LLC. (“Crypto”), recently announced its intention to create its own gold metal-backed cryptocurrency that could potentially be utilized when offering loans and accepting loan repayments. While Crypto is in the development planning stages and exploring the opportunities presented by crypto/blockchain technologies, the company is already negotiating to purchase a bona fide gold project with established gold metal in the ground and prospecting licenses on record.

In a news release announcing the company’s venture (http://nnw.fm/y3TXj), Paul Mathieson, IEG Holdings chairman and CEO, said, “We believe potentially combining the exciting new blockchain technology with the hard asset of gold metal, expected SEC registration, a leading sophisticated online consumer finance system and individual US state lending licenses is a very exciting proposition… In addition, we believe the future leaders of the crypto/blockchain sector will be companies that are materially compliant with all the existing and future related US government legislation. We aim for IEGH to leverage off its existing fintech business credentials, specifically its extensive experience in online consumer loans, to potentially be a key player in the crypto/blockchain sector.”

This attention to detail and meeting regulatory necessities is the backbone of IEGH’s success as a publicly traded, global leader in consumer finance (http://nnw.fm/08dOt). The company provides small online personal loans of $5,000 to $10,000 in the United States via a state-licensed operating subsidiary, Investment Evolution Corporation, under the consumer brand ‘Mr. Amazing Loans’.

The company originates, processes, and services consumer loans from its centralized Las Vegas headquarters. Loans are offered in 20 states via its online platform and distribution network. IEGH is a licensed direct lender with state licenses and/or certificates of authority to lend in each state and offers all loans within the prevailing statutory rates. The difference for consumers seeking a personal loan under Mr. Amazing Loans’ terms is the ability to repay the loan with low, fixed repayment schedules that fit into their lifestyle and budget. Since inception, the company has provided over $16 million in consumer loans – a cumulative loan volume increase of 192 percent from January 2015 to the end of 2017 (http://nnw.fm/N1DtP).

The coming year includes some exciting business opportunities for IEG Holdings, its subsidiaries and investors. Exploration of the legalities, economic risks and benefits of accepting repayment of customer loans in the form of leading crypto/blockchain currencies such as bitcoin, and also possibly creating and issuing a precious metal-backed cryptocurrency, are seen as prime targets for 2018.

For more information, visit the company’s website at www.InvestmentEvolution.com
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Re: IEG Holdings Corp. (IEGH)

Postby QualityStocks » Mon Jan 29, 2018 5:22 pm

NetworkNewsBreaks – IEG Holdings Corp. (IEGH) Intends to Create Cryptocurrency Backed by Gold Metal

Consumer loan provider IEG Holdings (OTCQB: IEGH) is exploring the possibility of creating a cryptocurrency to be backed by gold metal and registered with the SEC as a security. A recent article discussing the company reads: “Consumer loan provider IEG Holdings Corp. (OTCQB: IEGH), through wholly owned subsidiary Investment Evolution Crypto, LLC. (“Crypto”), recently announced its intention to create its own gold metal-backed cryptocurrency that could potentially be utilized when offering loans and accepting loan repayments. While Crypto is in the development planning stages and exploring the opportunities presented by crypto/blockchain technologies, the company is already negotiating to purchase a bona fide gold project with established gold metal in the ground and prospecting licenses on record.”
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Re: IEG Holdings Corp. (IEGH)

Postby QualityStocks » Wed Jan 31, 2018 6:15 pm

IEG Holdings Corp. (IEGH) Aims to be Key Player in the Cryptocurrency/Blockchain Sector

- IEG Holdings plans to create its own gold metal-backed cryptocurrency for consumer loans and consumer loan repayments
- The company’s loans offer interest rates that are significantly lower than payday lenders
- Adoption of blockchain technology offers substantial growth potential

On January 10, 2018, consumer loan provider IEG Holdings Corp. (OTCQB: IEGH) announced that its wholly owned subsidiary, Investment Evolution Crypto, LLC, is negotiating to purchase a gold project with prospecting licenses and known gold resources. The corporation plans to use a gold resource for the creation of its own gold metal-backed cryptocurrency, with a view to offering loans and accepting loan repayments through blockchain technology. Investment Evolution Crypto has not started mineral operations as yet, but it is currently developing plans to explore these crypto/blockchain opportunities. These efforts will include an evaluation of the legalities and associated economic risks.

Unlike other digital currencies like bitcoin, ether, Ripple and Litecoin, IEG Holdings’ cryptocurrency will be backed by gold and registered with the Securities Exchange Commission (SEC) as a security.

In a news release, the company’s chairman and CEO, Paul Mathieson, had this to say about the venture: “We believe potentially combining the exciting new blockchain technology with the hard asset of gold metal, expected SEC registration, a leading sophisticated online consumer finance system and individual U.S. state lending licenses is a very exciting proposition. In addition, we believe the future leaders of the crypto/blockchain sector will be companies that are materially compliant with all the existing and future related U.S. government legislation. We aim for IEGH to leverage off its existing fintech business credentials, specifically its extensive experience in online consumer loans, to potentially be a key player in the crypto/blockchain sector.”

IEG Holdings, based in Las Vegas, is a global leader in consumer finance and provides small-sized online personal loans to consumers in the United States. Through its operating subsidiary, Investment Evolution Corporation, the company offers loans under the brand “Mr. Amazing Loans.” Mr. Amazing Loans is a fintech company that specializes in providing loan amounts of $5,000 to $10,000 to consumers through a professional, user-friendly website. IEG Holdings’ loans are unsecured consumer loans with a five-year maturity period and interest rates that are significantly lower than payday lenders.

Through Mr. Amazing Loans, consumer loans receive same-day processing, with no prepayment penalty and no hidden or additional fees. Repayment interest rates are fixed at an annual percentage rate (APR) of 29.9 percent or less for the life of the loan.

According to the Center for Responsible Lending, typical payday lenders charge interest rates ranging from 391 percent to 521 percent APR on loans from $100 to $1,000 (http://nnw.fm/iH8Y8). Terms presented by Mr. Amazing Loans offer low fixed repayments which fit into consumer budgets in an effort to ensure that they strengthen their financial positions. Loans may be approved on the same day of application, and funds are deposited directly into approved consumers’ bank accounts.

IEG Holdings is licensed and/or holds certificates of authority to originate loans in 20 states, including Alabama, Arizona, California, Florida, Georgia, Illinois, Kentucky, Louisiana, Maryland, Missouri, Nevada, New Jersey, New Mexico, Ohio, Oregon, Pennsylvania, Texas, Utah, Virginia and Wisconsin. All loans are processed and serviced through the company’s corporate offices in Las Vegas, which eliminates the need for physical offices in each state where the company is licensed to conduct business.

While IEG Holdings’ primary goal is to create its own gold metal-backed cryptocurrency, it will explore the acceptance of established digital currencies, like bitcoin, for consumer loan repayment. With its foray into the rapidly growing blockchain space, 2018 promises to be a year of substantial growth for the company.

For more information, visit the company’s website at www.InvestmentEvolution.com
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Re: IEG Holdings Corp. (IEGH)

Postby QualityStocks » Tue Feb 20, 2018 7:29 pm

IEG Holdings Corp. (IEGH) Aims to Back Cryptocurrency Technologies with Gold

- IEG Holdings Corp. provides small personal online loans of up to $10,000
- IEGH subsidiary Mr. Amazing Loans offers rates up to 13-times lower than typical APR
- IEG Holdings Corp. intends to create metal-backed cryptocurrency

Based in Las Vegas, IEG Holdings Corp. (OTCQB: IEGH) provides small online personal loans in over 20 states within the U.S. This publicly traded company is a global leader in consumer financing, providing these loans through a state-licenced operating subsidiary known as Investment Evolution Corporation under the consumer brand Mr. Amazing Loans. As a leading fintech brand, Mr. Amazing Loans specializes in dedicated loan amounts of $5,000 and $10,000. This is offered directly to consumers through access to an easy-to-use website.

Customers are assured of no hidden or additional fees and are able to receive same-day processing. There is no prepayment penalty, and loans have fixed repayment and interest rates for their duration. Contrary to the typical annual percentage rate (APR), which can range from 391 percent to 521 percent, as stated by the Centre for Responsible Learning, Mr. Amazing Loans offers rates of 29.9 percent or less that are designed to fit into the budgets of consumers.

A 100 percent-owned subsidiary, Investment Evolution Crypto, LLC has been tasked with the exploration of business opportunities within the blockchain/cryptocurrency industry. This company is set to explore the economic risk and legalities associated with a joint business venture with Mr. Amazing Loans (http://nnw.fm/gZhT1).

With over 22 years in the finance industry, Paul Mathieson, IEG Holdings’ CEO and chairman, has experience in funds management, lending, investment banking and stock market research. Mathieson has been a member of the IEGH board of directors since 2012 and a member of its subsidiary’s board since 2009. Mathieson founded IEG Holdings Limited in Sydney, Australia, having launched Mr. Amazing Loans there in 2005 and then in the United States via IEGC in 2010. He was awarded Ernst & Young’s 2007 Australian Young Entrepreneur of the Year (Eastern Region). Mathieson has been joined on the IEGH management team by Carla Cholewinski, who currently serves as chief operating officer with over 37 years of experience in the finance industry, including credit union management, debt securitization, banking, underwriting, regulatory oversight and banking.

For consumers to be eligible for a loan from Mr. Amazing Loan, they must have a minimum gross annual income of $40,000, a minimum credit score of 600 and steady employment history. The loans are originated, processed and serviced out of the company’s Las Vegas corporate offices, which eliminates IEGH’s need to have a physical establishment in each of the states in which it is licenced to conduct business. IEGH’s six-and-a-half-year track record of originating, underwriting and servicing personal loans to underbanked consumers has made it adept within the consumer finance industry, achieving a meaningful return on its loan portfolio (http://nnw.fm/Zu9nV).

On January 29, 2018, it was announced that the consumer loan provider IEG Holdings was exploring the possibility of creating a cryptocurrency to be backed by gold metal and registered with the SEC as a security. Investment Evolution Crypto, LLC announced its intention to create its own gold metal-backed cryptocurrency that could be used when offering loans and accepting loan repayments. Although Crypto is currently in the development planning stages and exploring the opportunities presented by cryptocurrency and blockchain technologies, the company has already commenced negotiations to purchase a bona-fide gold project with established gold resources in the ground and prospecting licences on record (http://nnw.fm/Tk4iy).

Investment Evolution Crypto is in the process of developing plans to explore the above-mentioned blockchain/cryptocurrency opportunities, with efforts made toward evaluating the legal and associated economic risks. Unlike other digital currencies such as bitcoin, either, Ripple, and Litecoin, IEG Holdings’ cryptocurrency is expected to be backed by gold and registered with the Securities and Exchange Commission (SEC).

In a news release (http://nnw.fm/Ozj1y), Mathieson stated, “We believe potentially combining the exciting new blockchain technology with the hard asset of gold metal, expected SEC registration, a leading sophisticated online consumer finance system and individual U.S. state lending licences is a very exciting proposition. In addition, we believe the future leaders of the crypto/blockchain sector will be companies that are materially compliant with all of the existing and future related U.S. government legislation. We aim for IEGH to leverage off its existing fintech business credentials, specifically its experience on online consumer loans, to potentially be a key player in the crypto/blockchain sector.”

Although it is one of IEGH’s main goals to create its own gold metal-backed cryptocurrency, it will in addition explore the acceptance of established digital currencies, such as bitcoin, for the repayment of consumer loans. This promises to be a year of substantial growth for the company, with plans for further expansion that could see it grow to include up to 25 states by the end of the year.

For more information, visit the company’s website at www.InvestmentEvolution.com
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