Katapult and Progressive Leasing both operate in the lease-to-own space, but they've taken different approaches. Progressive Leasing built the largest brick-and-mortar retailer network in LTO, while Katapult focused on e-commerce integrations, making it a common LTO option at online-only merchants and marketplace platforms.
At a Glance
| Feature | Progressive Leasing | Katapult |
|---|---|---|
| Founded | 1999 | 2016 (as Cognical, rebranded 2021) |
| Primary channel | In-store + online at retail partners | Online-first, e-commerce focus |
| Approval range | ~$200 – $5,000 | ~$300 – $3,500 (varies) |
| Credit history required | No | No |
| Retailer network | 30,000+ locations | Growing e-commerce partner list |
| Standard lease term | 12 months | 12 months (varies) |
| Early purchase option | 90-day at ~cash price + fee | 90-day early purchase available |
Online vs. In-Store Focus
The most important structural difference is channel focus. Katapult is designed for online purchases and integrates directly at e-commerce checkout for participating merchants. The lease-to-own program serves both channels but has its strongest presence in physical retail. If you're planning to buy online at a merchant that specifically integrates Katapult, that's the natural choice. If you're planning to buy at a physical retailer that offers The program, that's the natural choice.
Retailer Partnerships
- Progressive: Best Buy, Mattress Firm, Ashley HomeStore, Big Lots, Kay Jewelers, Zales, Jared, tire shops, and 30,000+ retail locations. Strong presence in traditional big-box and specialty retail.
- Katapult: A growing list of e-commerce partners across electronics, furniture, appliances, home goods, and specialty categories. Katapult's partner list is smaller but has depth in certain online-first merchants.
Cost Comparison
Both providers use similar economics: the 12-month standard cost is meaningfully above the retailer's cash price, and the 90-day early purchase option brings the total close to cash price plus a small fee. Neither is materially cheaper than the other at comparable term structures.
If you can execute the early purchase option within 90 days, both are competitive with each other and with other LTO providers. If you carry to the full term, both are significantly more expensive than the item's cash price.
Application Experience
The provider offers online, mobile app, and in-store application methods. Its mobile app is a strong asset for in-store shopping with barcode scanning and store locator features.
Katapult is designed as an online checkout integration. The application is completed directly on the merchant's website during checkout, without leaving the merchant's site. This creates a smoother e-commerce experience than a standalone LTO application.
Which Should You Choose?
Choose Progressive Leasing if:
- You're shopping at a physical retailer (Best Buy, Mattress Firm, etc.)
- You want the broadest retailer network and category coverage
- You need in-store barcode scanning and store locator functionality
- You have prior positive It history that increases your approval
Choose Katapult if:
- You're shopping at an online merchant that integrates Katapult directly at checkout
- You've been declined by The company and want to try a different online-focused underwriter
- You prefer completing the application within the merchant's checkout flow rather than through a separate LTO provider site
When Both Are Available
In practice, most retailers offer either The LTO program or Katapult, not both. Your choice is usually determined by the retailer's LTO partner. If you find both options at a merchant, apply to each independently and compare the approval amounts before proceeding.