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.

Simplify's Take

What believers are saying

• Acquired Purchasing Power January 2, 2026, expanding payroll deduction employee benefits.
• PROG Marketplace GMV surges 187%, Four Technologies GMV grows 126% in recent quarter.
• 2026 revenue outlook projects $3.02B–$3.14B despite Progressive Leasing GMV dip.

What critics are saying

• Progressive Leasing GMV drops 10.6% YoY to $534M in Q4 2025.
• Katapult, Acima erode cell phone market share at Cell Phone Shoppe via lower fees.
• CFPB FCRA rules cap APR at 36%, eviscerate 100–200% model, force bankruptcy in 18–36 months.

What makes Progressive Leasing unique

• Progressive Leasing provides e-commerce, app-based, in-store lease-to-own at 30,000+ U.S. locations.
• PROG Holdings integrates Progressive Leasing with Four, MoneyApp, Purchasing Power platforms.
• Proprietary platform delivers instant decisioning for furniture, electronics, appliances ownership.

Help us improve and share your feedback! Did you find this helpful?

YesNo