IEG Holdings Corp. provides online unsecured consumer loans
under the brand name ‘Mr. Amazing Loans’ in 16 states across the country. IEGH
is currently implementing an aggressive growth strategy designed to increase
its coverage of the U.S. population, and it expects to obtain nine additional
online state licenses by early 2016. If successful, this expansion would
increase IEGH’s coverage to include roughly 80 percent of U.S. markets.
Earlier this month, IEGH gave prospective investors a
preview of its growth potential when it announced that the cumulative loan
volume of ‘Mr. Amazing Loans’ had surpassed $10 million. According to a news
release, the company is utilizing low acquisition cost lead sources and
national expansion in order to build on its recent market progress and maximize
financial growth. Since July 2015, IEGH has successfully added consumer loans
in California, Alabama and Louisiana to its existing national footprint.
Along with its ongoing national expansion, IEGH is achieving
strong financial growth. In the third quarter of 2015, IEGH realized a 272
percent year-over-year increase in total revenues, recording $539,867 for the
period. As the company continues to drive loan volume growth, it’s in a strong
position to build on this financial performance. When combined with its
increase in net assets, which now stand at approximately $8.3 million, IEGH is
rapidly emerging as a company to watch throughout the investment community, and
current market conditions seem to set the stage for sustainable growth in the
months to come.
According to a report by First Research, the consumer
lending industry – led by major players such as Cash America (NYSE: CSH),
EZCORP (NASDAQ: EZPW) and Springleaf Holdings (NYSE: LEAF) – currently accounts
for combined annual revenue of about $35 billion. The report also indicates
that smaller companies, such as IEGH, can compete effectively by targeting
favorable locations and niche markets.
Moving forward, IEGH will lean on the considerable industry
experience of its management team in order to continue expanding its foothold
in the consumer lending industry. The company’s founder and chief executive
officer, Paul Mathieson, previously built a business in Australia that lent
approximately $48 million to over 11,500 customers before he relocated to the
U.S. in 2008. Look for IEGH to benefit from this industry knowledge as it
continues to implement an aggressive growth strategy under the ‘Mr. Amazing
Loans’ brand.
For more information, visit www.investmentevolution.com
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
