On October 22, 2025, PROG Holdings announced the sale of its Vive Financial credit card receivables portfolio to Atlanticus Holdings Corporation. The transaction, completed today, will transfer approximately $165 million in receivables to Atlanticus in exchange for $150 million in cash. The deal is intended to streamline PROG’s balance sheet and enhance capital efficiency.
PROG will receive $150 million in cash, while Atlanticus will assume the $165 million receivables. The sale removes the servicing obligations associated with the Vive portfolio, freeing up resources for core leasing and BNPL operations. The transaction also reduces PROG’s debt exposure by eliminating the need to fund the receivables.
By divesting the Vive line, PROG maintains access to second‑look credit solutions through a partnership with Atlanticus, ensuring customers and retail partners continue to receive credit options. The move aligns with PROG’s strategy to focus on high‑margin fintech segments such as Progressive Leasing and Four Technologies. The partnership also positions Atlanticus to expand its retail credit footprint, benefiting both companies.
The influx of cash strengthens PROG’s liquidity, enabling potential reinvestment in growth initiatives or shareholder returns. The sale is expected to improve profitability metrics by reducing servicing costs and enhancing free cash flow. Overall, the transaction represents a strategic shift toward a leaner, more capital‑efficient business model.
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