Acima Leasing Secures Exclusive Lease-to-Own Agreement with Levin Furniture & Mattress

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Acima Leasing, a subsidiary of Upbound Group, Inc. (NASDAQ: UPBD), secures an exclusive multi-year lease-to-own agreement with Levin Furniture & Mattress, providing flexible shopping options for credit-challenged customers. The partnership aims to increase sales and offer a better shopping experience to a broader range of consumers.

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.

FAQ

What is the ticker symbol for Upbound Group, Inc.?

The ticker symbol for Upbound Group, Inc. is UPBD.

What type of agreement did Acima Leasing secure with Levin Furniture & Mattress?

Acima Leasing secured an exclusive multi-year lease-to-own agreement with Levin Furniture & Mattress.

What products can consumers access through Acima Leasing's lease-to-own solutions?

Consumers can access furniture, mattresses, accessories, tires, appliances, electronics, jewelry, and more through Acima Leasing's lease-to-own solutions.

How does Acima Leasing help retailers reduce payment risk?

Acima Leasing purchases eligible items directly from the retailer and then leases them to approved customers, helping retailers reduce payment risk.

What is the goal of the partnership between Acima Leasing and Levin Furniture & Mattress?

The partnership aims to provide a better shopping experience to credit-challenged customers and increase sales for Levin Furniture & Mattress.