No Credit Check Requirements

Who is Progressive Finance?

With over 9 years of experience in difficult credit solutions, Progressive has developed a hybrid lease/purchase supplemental program that approves 9 out of 10 applications regardless of your credit history. In over 9 years, their lease/purchase program and company reputation has spread to over 1000 stores in 40 states. Instead of using a customer's credit history, their approvals are based on two factors:

This is a Lease/Purchase Agreement through Progressive Finance.

  1. The customer must be employed by the same company for at least SIX months with a gross income of $1,000 a month.
  2. The customer must have an open, active bank account established for at least 3 months with NO returned checks or NSF fees within the last 30 days.

NOTE: There is a $40 Application Fee.

Frequently Asked Questions

  1. What is the interest rate/customer payment?

    2. This is a lease/purchase program - there is no interest rate. Progressive purchases the merchandise from Waterbeds 'n' Stuff, the customer then leases if from Progressive with monthly payments. Lease payments are 15% of the invoice per month.

    Example: $1000 invoice = $150/mo payment for 12 months.

  2. Buyout options

    3. We offer buyout options to customers who wish to own the merchandise outright before the 12 month term is up. They have two options:

    • 90 days same as cash - The customer pays only the invoice amount and a $40.00 processing fee within 90 days of the delivery date.
    • 65% buyout option - If the customer wishes to own the merchandise outright after 90 days, they may purchase it at 65% of the balance left on their account.

      • Example of 65% buyout: After six months, customer wishes to purchase the agreement outright, and their balance is: $900. They will be given the buyout price of $585 to own the merchandise outright.

Bring the Following to the Store

  1. To Verify INCOME REQUIREMENTS of $1,000 a month for at least 6 months, bring:
    • Paystub; or
    • S.S. or Disability Benefit Letter; or
    • Letter from employer with hourly wage and YTD on company letterhead.
    • If self-employed - Provide a 1099 and 30 day bank statement OR a business license and 3 months of bank statements.
    • If you apply between January and June, you must submit your December paystub or W-2 from previous year.
  2. To Verify CHECKING ACCOUNT REQUIREMENTS bring a 30 day bank statement that shows:
    • No NSFs & no overdrafts
    • Account open for 3 months
    • $500 in deposits
    • Does not end with a negative balance
  3. VOIDED CHECK (Or a Bank Account Verification Form)
  4. PHOTO I.D.