PRG Profile
PROG Holdings, Inc., headquartered in Draper, Utah, is a leading provider of omnichannel lease-purchase solutions tailored for underserved and credit-challenged consumers. Formerly known as Aaron's Holdings Company, Inc., the company rebranded to PROG Holdings, Inc. in December 2020 to better reflect its expanded range of financial services. Founded in 1955, PROG Holdings operates through two primary segments: Progressive Leasing and Vive, each offering distinct financial products and services designed to meet varying consumer needs.
The Progressive Leasing segment specializes in providing lease-purchase options for a wide array of merchandise, including furniture, appliances, electronics, jewelry, mobile phones, mattresses, and automotive accessories. These solutions are available through a network of approximately 24,000 third-party point-of-sale partners, e-commerce platforms, and physical retail locations across 49 states and the District of Columbia. The company's approach integrates in-store, mobile, and online solutions, allowing customers flexible access to lease-purchase options both in-person and digitally.
Vive, the company's second segment, focuses on offering credit solutions for consumers who may not qualify for traditional prime lending. This includes second-look credit products and revolving credit through private label and Vive-branded credit cards. Vive's offerings are designed to provide credit access to those with less-than-perfect credit histories, helping them to manage their purchasing power and financial needs.
PROG Holdings’ extensive network and diverse product offerings reflect its commitment to addressing the financial needs of a broad customer base. The company's dual approachâ€combining lease-purchase solutions with credit productsâ€positions it as a versatile player in the financial services industry, catering to a range of consumer segments and enhancing access to essential goods and services.
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