Acima Leasing now provides lease-to-own
options at Levin Furniture & Mattress with multi-year
agreement
PLANO,
Texas, April 16, 2024 /PRNewswire/ -- Acima
Leasing, one of the nation's leading providers of lease-to-own
("LTO") solutions and a business of Upbound Group, Inc. (NASDAQ:
UPBD), signed an exclusive multi-year agreement with a leading, top
501 home furnishings retailer, Levin Furniture &
Mattress. Acima Leasing provides consumers with flexible shopping
options to obtain access to furniture, mattresses, and accessories
without any long-term obligation.
Acima Leasing is opening the door for credit-challenged
customers of Levin Furniture & Mattress through a
lease-purchase transaction. Millions of consumers in the United States have little to no access to
traditional credit needed to meet their shopping needs, making
lease-to-own an ideal option for both customers and retailers.
Acima Leasing's flexible lease-to-own solutions provide retail
partners with the opportunity to increase sales by attracting
previously out-of-reach, underserved customers through greater
shopping power afforded by LTO. Retailers can also reduce their
payment risk because Acima purchases eligible items directly from
the retailer, which Acima then leases to approved customers.
"High-quality mattresses and furniture items are high on the
list of needs for many consumers, and this new partnership with
Levin Furniture & Mattress will provide a broader range of
customers with the shopping options they need," said Tyler Montrone, EVP, Head of Acima Leasing.
"Acima Leasing provides a much-needed alternative to traditional
financing options — helping Levin Furniture & Mattress
customers from all financial backgrounds gain a better quality of
life with access to the things they want and need without using
credit."
"At Levin Furniture & Mattress, we take care of our
communities and the customers who support us. This new partnership
with Acima Leasing is our most recent action to meet the needs of
our customers," Jason Lapina, CFO of
Levin Furniture & Mattress, states. "As a family-founded
business, we strive to make furniture and mattress shopping a
positive experience for our customers. By partnering with Acima,
we're able to give a better shopping experience to those with
less-than-perfect credit."
Acima Leasing is a leading provider of lease-to-own solutions
for retailers and consumers with innovative technology that enables
underserved customers the flexibility to shop in-store and online
despite having imperfect credit. Through its flexible,
point-of-sale platform, Acima Leasing provides lease-to-own
solutions to online and brick-and-mortar retailers that allow
customers to access bigger ticket items such as furniture, tires,
mattresses, appliances, electronics, jewelry, and more. LTO
customers are able to use and enjoy eligible brand name merchandise
with no long-term obligation and have multiple options, if desired,
to purchase the leased property.
Retailers who want to add lease-to-own solutions to their
e-commerce or in-store checkout can learn more about Acima
Leasing's offerings at www.acima.com/partner.
1 Source: Furniture Today Top 100 U.S. Furniture
Stores 2023 May 22, 2023
About Upbound Group, Inc.
Upbound Group, Inc.
(NASDAQ: UPBD) is an omnichannel platform company committed to
elevating financial opportunity for all through innovative,
inclusive, and technology-driven financial solutions that address
the evolving needs and aspirations of consumers. The Company's
customer-facing operating units include industry-leading brands
such as Rent-A-Center® and Acima® that facilitate consumer
transactions across a wide range of store-based and digital retail
channels, including over 2,400 company-branded retail units across
the United States, Mexico, and Puerto
Rico. Upbound Group, Inc. is headquartered in Plano, Texas. For additional information about
the Company, please visit our website www.upbound.com.
About Levin Furniture & Mattress
Founded in 1902,
Levin Furniture has 35 furniture and mattress showrooms and
clearance centers in Northeastern
Ohio and Southwestern
Pennsylvania. For more information, visit
www.levinfurniture.com.
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SOURCE Upbound Group, Inc.
