Paul Mathieson, CEO and founder of IEG Holdings Corporation, established "Mr. Amazing Loans," a brand name to describe the unsecured consumer loans the company has to offer. After lending approximately $48 million to over 11,500 borrowers in Australia, Mathieson moved to the U.S. market to further the company's success in 2008. The online lending program has increased more than 2,400 percent since mid 2013. Such an achievement begs the question: How has Mathieson's Mr. Amazing Loans business been so successful?

Mathieson keeps it simple: "The business of Mr. Amazing Loans is not rocket science, the growth is driven by consistent management execution utilizing our leading online loan platform combined with cost effective customer lead acquisition, thorough and highly efficient underwriting, and the ability to access appropriate debt and equity funding."

The Mr. Amazing Loans business charges 19.9% to 29.9% annually, which is incomparably cheaper than the 300%+ that the payday lending market has charged for many years. The Consumer Financial Protection Bureau is actively assessing the need for further regulations on the payday lending market. "The Mr. Amazing Loans business is fully compliant with the regulators and positioned to capitalize on the regulatory pressure on the payday lenders," says Mathieson. The payday lending market requires that the consumer pay back however much is borrowed within two weeks at a highly excessive rate. However, as Mathieson says, "if you haven't got the [money] one week, how are you going to find it the next?" The Mr. Amazing Loans business' $5,000 loan costs the consumer $37.04 a week for five years. "It's the convenience of what we are doing at a fair rate and it works for everyone," says Mathieson. Furthermore, the consumer's "payment is so low that it makes very little difference to their weekly budget." That's how Mr. Amazing Loans' sells-based on the premise of cost effective customer lead acquisition. "These other businesses are based on short-term high returns whereas we set up a model where we are helping the consumer and doing what the government intends," says Mathieson.

IEG Holding's significant growth can also be contributed to their extensive underwriting practices. After an applicant passes through all of Mr. Amazing Loans' automated minimum criteria, the company reduces risk further by meticulously reviewing their applicants' bank statements and performing reference checks. These thorough underwriting practices enable Mr. Amazing Loans to maintain low loss rates while growing rapidly.

"Our aim is to continue approving and funding loans at higher levels to meet our short term growth goal of lending over $3 million per month. Our medium term loan volume growth goals are much higher and if you combine our ongoing aggressive state license expansion, multiple new lead sources, increased $10 million senior debt facility, and recently announced $100 million debt facility term sheet, it represents a very exciting growth story to investors," says Mathieson.

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