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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
- Q2 2026 revenue rose 22.3% to $719.7 million after Purchasing Power.
- Consolidated GMV jumped 60.1% and adjusted EBITDA reached $88.4 million.
- June 30, 2026 liquidity included $350 million revolver availability and covenant compliance.
What critics are saying
- Progressive Leasing's 2025 GMV fell $166.4 million as Four offset weakness.
- Revenue concentration remains dangerous: Progressive Leasing supplied about 96% of 2025 consolidated revenue.
- Another major FTC case threatens the lease-to-own franchise itself.
What makes Progressive Leasing unique
- Progressive Leasing spans 30,000 retail stores, giving unmatched point-of-sale distribution.
- PROG's 2026 Purchasing Power acquisition adds employer payroll-deduction credit access.
- Its lease-to-own underwriting converts thin-file shoppers into repeat spenders.
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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 55 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 55 Jobs on Simplify!
Find jobs on Simplify and start your career today