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Overview
Progressive Leasing provides in-store, online, and app-based lease-to-own options to help credit-challenged customers purchase merchandise like furniture, appliances, electronics, and more. Its technology-based proprietary platform gives instant approval decisions and flexible terms at the point of sale, enabling quick ownership of items with transparent, ongoing payments. Unlike some lenders, Progressive Leasing emphasizes real-time decisions, clear terms, and broad access through multiple purchase channels, backed by PROG Holdings, a fintech parent company. The company aims to empower customers financially and expand opportunities for affordable ownership, reflecting its mission to create a better today and unlock tomorrow through financial empowerment.
About Progressive Leasing
Industries
Fintech
Financial Services
Company Size
1,001-5,000
Company Stage
N/A
Total Funding
N/A
Headquarters
Draper, Utah
Founded
1999
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Simplify's Take
What believers are saying
- April 29, 2026 results raised full-year 2026 guidance after 11.1% consolidated revenue growth.
- Purchasing Power closed a $225 million ABS deal on March 3, 2026, cutting funding costs.
- Net leverage fell to 1.7x in Q2 2026, enabling buybacks and dividend increases.
What critics are saying
- The FTC's 2020 case still defines Progressive Leasing as a deceptive cost-disclosure villain.
- A 2023 data breach settlement covering 216,000 customers closes in 2026, damaging trust.
- Q2 2026 write-offs hit 8.4%, above target, signaling credit stress and margin pressure.
What makes Progressive Leasing unique
- Progressive Leasing reaches in-store, app, and e-commerce checkout across leading retailers in 2026.
- PROG Holdings bought Purchasing Power on January 2, 2026, expanding employer-sponsored purchasing reach.
- Q2 2026 showed 3.4% Progressive Leasing GMV growth after 2025 tightening and Big Lots exit.
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Benefits
Health Insurance
401(k) Company Match
Paid Vacation
Paid Holidays
Employee Stock Purchase Plan
Tuition Reimbursement
Charitable Gift Matching
Company News
PROG Holdings (NYSE:PRG) announced that its subsidiary, Progressive Leasing, has won the Silver Stevie(R) Award for Customer Service Department of the Year in Financial Services at the 2024 American Business Awards(R).
That’s right folks, Thecellphoneshoppe has partnered with Progressive Leasing, one of the largest lease to own companies in the United States.
Progressive Leasing is Hiring for 64 Jobs on Simplify!
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About Progressive Leasing
Industries
Fintech
Financial Services
Company Size
1,001-5,000
Company Stage
N/A
Total Funding
N/A
Headquarters
Draper, Utah
Founded
1999
Progressive Leasing is Hiring for 64 Jobs on Simplify!
Find jobs on Simplify and start your career today