LAS VEGAS, NV--(Marketwired - November 01, 2016) - IEG Holdings Corporation (IEGHD)(IEGH) announced today that it has been approved for its 18th State License for Maryland and has begun offering loans online to residents of Maryland. Management aims for IEGH to be in a position to offer loans in 25 US states by mid-2017, covering approximately 240 million people and representing 75% of the US population. Since January 2015, cumulative loan volume has increased by 150% from $5,549,023 to $13,899,023 as of October 30, 2016 after lending a further $215,000 in October.
IEG Holdings' trading symbol is IEGH. However, for a 20 trading day period following effectiveness of the Reverse Split and Forward Split, a 'D' is affixed to the trading symbol, resulting in a temporary trading symbol of IEGHD until it reverts back to IEGH. The Reverse Split and Forward Split was effective on October 27, 2016.
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About IEG Holdings Corporation
IEG Holdings Corporation (IEGH) ("IEG Holdings") provides online unsecured consumer loans under the brand name, "Mr. Amazing Loans," via its website, www.mramazingloans.com, in 18 US states. IEG Holdings offers $5,000 and $10,000 loans over a term of five years at a 19.9% to 29.9% APR. IEG Holdings plans future expansion to 25 US states by mid-2017. For more information about IEG Holdings, visit www.investmentevolution.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in IEG Holdings' filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond IEG Holdings' control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects IEG Holdings' current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. IEG Holdings assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
The contents of IEG Holdings' website referenced herein are not incorporated into this press release.