Earlier this week, IEG Holdings Corporation (OTCQX: IEGH)
made headlines when it uplisted from the OTCQB® Venture Market to the OTCQX®
Best Market, the top tier of the three marketplaces operated by OTC Markets
Group. Before becoming eligible to be traded on this tier, companies must
undergo a qualitative review by OTC Markets Group and meet a number of strict
financial and corporate governance benchmarks. Following its uplisting, IEG
Holdings is expected to enjoy increased visibility with investors while
distinguishing itself among the most established, investor-focused U.S. and
international companies currently traded on the OTC markets.
“IEGH is pleased to have met the stringent financial and
corporate governance criteria to be upgraded to the OTCQX market, which is
another key step in the growth of the company,” Paul Mathieson, chairman and
chief executive officer of IEG Holdings, stated in a Monday news release.
News of IEGH’s uplisting continued to build on what has been
a promising start to 2016 for the company. In early January, IEGH announced
expansion of its online lending services – marketed under the Mr. Amazing Loans
brand – into Kentucky, marking the 17th U.S. state in which it currently offers
consumer loans. IEG Holdings’ management team previously set a goal of offering
loans in 25 U.S. states by the third quarter of 2016. If this goal is achieved,
it would give the company access to approximately 240 million people across the
country, which is roughly 75 percent of the U.S. population.
Following its expansion into Kentucky, IEGH achieved record
loan volumes for the first month of the year, recording an 85 percent
year-over-year increase to $315,000 in January 2016. This growth came as no
surprise to investors tracking the company’s recent trajectory. From 2013 to
2015, IEGH achieved a 2,815 percent increase in full-year revenue, growing from
$62,949 to more than $1.8 million over the course of just two years. In a
recent release, the company attributed this strong performance to the
versatility of its online lending website (www.mramazingloans.com), its low
acquisition cost lead sources and continued state license expansion.
By uplisting to the OTCQX market, IEG Holdings is now in a
formidable strategic position to leverage its recent momentum in an effort to
maximize shareholder value. Look for the company to continue its aggressive
pursuit of the nationwide expansion of its Mr. Amazing Loans platform in the
months to come, establishing a solid foundation upon which to expand its
sizable foothold in the multibillion dollar online consumer lending market of
the United States.
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
