By âvirtualizingâ rent-to-own purchases, Utahâs Progressive Leasing is leading its field and makes more than $1 billion a year
Posted by A4MFP on
While working at a consumer finance company, Curt Doman and Brent Wilson noticed that 30 to 40 percent of the customers who applied for credit at retailers would be turned down â and they figured those shoppers then turned to rent-to-own stores, like Aaronâs or Rent-a-Center.
âWe thought, why not just virtualize rent-to-own and let the furniture operator offer it right in their location?â Doman said.
The lease-to-own company they launched in 1999 now has revenues of more than $1 billion a year....
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