Acima Leasing partners with Levin Furniture & Mattress to enhance lease-to-own offerings
Acima Leasing, a leading national provider of lease-to-own (LTO) solutions and a part of Upbound Group, Inc. (NASDAQ: UPBD), has entered into an exclusive multi-year agreement with Levin Furniture & Mattress, a top-ranked home furnishings retailer. This partnership aims to offer flexible purchasing options to consumers, particularly those with limited access to traditional credit.
The collaboration between Acima Leasing and Levin Furniture & Mattress is designed to open doors for credit-challenged customers, enabling them to acquire essential home furnishings like mattresses and furniture through lease-purchase transactions. With many Americans lacking adequate access to traditional credit sources, lease-to-own solutions represent a vital alternative, providing the means to furnish homes without long-term financial commitments.
Tyler Montrone, Executive Vice President and Head of Acima Leasing, emphasized the importance of the partnership, stating, “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.” He highlighted that Acima Leasing offers a significant alternative to traditional financing options, enhancing the quality of life for customers across financial backgrounds.
Jason Lapina, Chief Financial Officer of Levin Furniture & Mattress, also commented on the new partnership: “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.” He expressed the company’s commitment to making furniture shopping a positive experience, especially for those with less-than-perfect credit.
Acima Leasing’s innovative technology provides a flexible, point-of-sale platform that supports both online and in-store shopping, despite customers’ credit challenges. This approach allows consumers to access high-ticket items such as furniture, electronics, and jewelry under lease agreements with no long-term obligation. Retailers benefit from increased sales opportunities by tapping into a previously underserved customer base and reducing payment risks, as Acima handles the initial purchase of eligible items.
The strategic alliance between Acima Leasing and Levin Furniture & Mattress reflects a growing trend in the retail sector where businesses adapt to meet the diverse financial needs of their customers. This partnership not only broadens the accessibility of quality furniture and mattresses but also exemplifies how innovative financial solutions can drive business growth and customer satisfaction in the competitive home furnishings market. As the demand for flexible financing options continues to rise, such collaborations could set a precedent for the retail industry, especially in sectors involving substantial investments like home furnishings.