Progressive offers lease/purchase services for merchants and retailers, according to the company website. Progressive's lease/purchase service features a 90-day payment option and does not require good credit from the end consumer.
Progressive's services aim to expand a business's customer base to individuals discouraged from making a purchase due to poor credit, states the company's website. Many consumers cannot receive financing from banks due to stricter lending standards, which results in loss of sales. Progressive's lease/purchase services aim to provide additional financing options, decrease layaways and increase customer retention. Progressive is based in Salt Lake City, Utah, and operates in 46 states.