IEG Holdings Corp. (IEGH) Delivering Loan Assistance to Underbanked Market
- More than a quarter of U.S. households are unbanked or underbanked, according to FDIC analysis
- IEG Holdings serves the underbanked household market with transparent loan structure in line with credit card repayment rates
- Company shareholders offered opportunity at entire share capital of as-yet unlisted cryptocurrency
Amid the world of quick personal lending, IEG Holdings Corp. (OTCQB: IEGH) is making a name for itself as a company that offers loans to the underbanked household market while working to keep its own risk at a low level. IEG Holdings is a fintech online lender that offers $5,000 and $10,000 unsecured loans on an installment basis.
In recent months, IEG Holdings has been actively pursuing ways to advance its business model through partnerships, cryptocurrency initiatives and investment strategies. After exploring the creation of its own fintech coin, the company announced in March (http://nnw.fm/0gGlb) that it was abandoning — at least, for the present — a possible offering or related strategy “after considering the potential risks and benefits” but would continue exploring ways to adopt blockchain technology in its core model.
In the meantime, company CEO Paul Mathieson announced (http://nnw.fm/8AYi1) that all shareholders listed with IEG Holdings by April 30 will have the opportunity to purchase an equal number and percentage (on a fully diluted basis) in the entire share capital of as-yet unlisted Investment Evolution Coin Ltd. (“IEC Ltd.”), a company that Mathieson manages as majority shareholder, thereby reducing the risk to IEG Holdings.
IEC Ltd. is exploring the launch of a new cryptocurrency called Investment Evolution Coin. The cryptocurrency is expected to simplify financial transfers to the Philippines from expatriate nationals. IEC has entered a partnership with HashCash Consultants, a cryptocurrency consultancy in Silicon Valley, as it moves toward the launch of the new coin.
Outside of the cryptocurrency space, IEG Holdings has continued to expand its reach in the consumer lending market. The company issues its loans on a state-by-state basis, with licensing approved in 20 states from California to Maryland. The most recent addition to the list, announced in January, is Virginia. The company continues working with other states to expand consumer access to its loans through its Mr. Amazing Loans portal, which offers fees that are in line with credit card rates and provided under transparent contracts (http://nnw.fm/1UuWq). IEG Holdings has established a goal of securing 25 state licenses, which would expand its coverage to 240 million people — about 75 percent of the U.S. population.
In 2013, the FDIC, in conjunction with the U.S. Census Bureau, estimated that roughly 9.6 million households — about 7.7 percent nationwide — were unbanked and an additional 20 percent were underbanked (http://nnw.fm/wqR5p). By 2015, the most recent survey reported (http://nnw.fm/IB1t6), seven percent were reportedly unbanked and an additional 19.9 percent of households were underbanked, indicating a persistence of the potential market for IEG Holdings’ product. Between 2009 and 2013, the amount of unbanked households varied between 7.6 and 8.2 percent. The Center for Financial Services (CFS) estimated that IEGH’s product category – short-term credit – grew 37 percent from 2012 to 2014, while single-payment credit, the main competing product category, grew by just 0.1 percent (http://nnw.fm/8kZJE).
Analysts with ACF Equity Research forecast in January that IEG Holdings’ revenues will quadruple during the next few years (http://nnw.fm/i9LkJ), growing from about $2 million to $5.33 million by 2019 and $8.23 million by 2020. The company is currently debt-free.
For more information, visit the company’s website at www.InvestmentEvolution.com
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- More than a quarter of U.S. households are unbanked or underbanked, according to FDIC analysis
- IEG Holdings serves the underbanked household market with transparent loan structure in line with credit card repayment rates
- Company shareholders offered opportunity at entire share capital of as-yet unlisted cryptocurrency
Amid the world of quick personal lending, IEG Holdings Corp. (OTCQB: IEGH) is making a name for itself as a company that offers loans to the underbanked household market while working to keep its own risk at a low level. IEG Holdings is a fintech online lender that offers $5,000 and $10,000 unsecured loans on an installment basis.
In recent months, IEG Holdings has been actively pursuing ways to advance its business model through partnerships, cryptocurrency initiatives and investment strategies. After exploring the creation of its own fintech coin, the company announced in March (http://nnw.fm/0gGlb) that it was abandoning — at least, for the present — a possible offering or related strategy “after considering the potential risks and benefits” but would continue exploring ways to adopt blockchain technology in its core model.
In the meantime, company CEO Paul Mathieson announced (http://nnw.fm/8AYi1) that all shareholders listed with IEG Holdings by April 30 will have the opportunity to purchase an equal number and percentage (on a fully diluted basis) in the entire share capital of as-yet unlisted Investment Evolution Coin Ltd. (“IEC Ltd.”), a company that Mathieson manages as majority shareholder, thereby reducing the risk to IEG Holdings.
IEC Ltd. is exploring the launch of a new cryptocurrency called Investment Evolution Coin. The cryptocurrency is expected to simplify financial transfers to the Philippines from expatriate nationals. IEC has entered a partnership with HashCash Consultants, a cryptocurrency consultancy in Silicon Valley, as it moves toward the launch of the new coin.
Outside of the cryptocurrency space, IEG Holdings has continued to expand its reach in the consumer lending market. The company issues its loans on a state-by-state basis, with licensing approved in 20 states from California to Maryland. The most recent addition to the list, announced in January, is Virginia. The company continues working with other states to expand consumer access to its loans through its Mr. Amazing Loans portal, which offers fees that are in line with credit card rates and provided under transparent contracts (http://nnw.fm/1UuWq). IEG Holdings has established a goal of securing 25 state licenses, which would expand its coverage to 240 million people — about 75 percent of the U.S. population.
In 2013, the FDIC, in conjunction with the U.S. Census Bureau, estimated that roughly 9.6 million households — about 7.7 percent nationwide — were unbanked and an additional 20 percent were underbanked (http://nnw.fm/wqR5p). By 2015, the most recent survey reported (http://nnw.fm/IB1t6), seven percent were reportedly unbanked and an additional 19.9 percent of households were underbanked, indicating a persistence of the potential market for IEG Holdings’ product. Between 2009 and 2013, the amount of unbanked households varied between 7.6 and 8.2 percent. The Center for Financial Services (CFS) estimated that IEGH’s product category – short-term credit – grew 37 percent from 2012 to 2014, while single-payment credit, the main competing product category, grew by just 0.1 percent (http://nnw.fm/8kZJE).
Analysts with ACF Equity Research forecast in January that IEG Holdings’ revenues will quadruple during the next few years (http://nnw.fm/i9LkJ), growing from about $2 million to $5.33 million by 2019 and $8.23 million by 2020. The company is currently debt-free.
For more information, visit the company’s website at www.InvestmentEvolution.com
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
