Sept 25 (Reuters) - IOU Financial Inc IOU.V :
* Announces private placement of up to $10 million of convertible unsecured
subordinated debentures
* Says convertible debentures will be offered at a price of $1,000 per
convertible debenture
* Says convertible debentures will mature on December 31, 2020, will bear
interest at a rate of 10% per annum
* Says net proceeds of private placement will be used primarily by IOU
Financial to finance small business loans in co's target markets
* Source text for Eikon ID:nCNWn4hpxa
* Further company coverage IOU.V