Simple Finance changes its name

Share on facebook
Share on twitter
Share on linkedin
Share on email
ACIMA

Lease-to-purchase specialist Simple Finance, a regular exhibitor at the HFA’s Resource Centers, is changing its name to Acima Credit. Acima will continue to provide lease-purchase financing and service and support to home furnishings retailers and their customers who come from a variety of credit positions. This name change is driven by a trademark issue between the Utah company, and Simple Bank (located in Oregon).

“Simple Bank was awarded the trademark for ‘Simple’ in July 2016,” said Aaron Allred, founder and CEO of Acima Credit. “When our company was founded we didn’t realize we would grow as quickly as we have grown. So we didn’t trademark the name. As a result, we are now Acima Credit. We are doing everything we can to cooperate with Simple Bank to make the name transition as smooth as possible, and to respect their trademark.”

In Portugal, Acima means “rise above,” which company officials say reflects the bank’s core mission to provide point-of-sale finance products through retail merchants to help people rise above their financial constraints. The company firmly believes people are better than their credit scores. That is why Acima offers a lease-to-own service to help people achieve a quality of life they may not have felt was possible.

Over the past three years, Acima has experienced extraordinary growth allowing it to employ nearly 300 people and underwrite hundreds of thousands of consumers nationwide. Consumer demand for point-of-sale finance continues to rise at an extraordinary rate. Acima’s proprietary technology enables consumers to finance life’s necessary purchases. Acima believes retail merchants who offer this service will experience an increase in revenue from a customer base that typically may not have been able to get financing otherwise based on their credit scores.

“Lease-purchase financing has become more attractive as many traditional and subprime lenders refuse to extend credit to large portions of the population,” said Allred. “In many cases Acima’s point-of-sale product helps consumers climb the credit ladder as they work to improve their traditional credit scores.”

Acima uses its proprietary technology platform to analyze non-traditional data points when making decisions to extend credit to thousands of customers that are often denied by traditional and subprime finance companies. Acima can do this by accurately determining credit risk without accessing the traditional credit reporting system, allowing it to provide customers (through its retail merchant of choice) with a simple ‘no credit needed’ lease-to-own financing option.

Share on facebook
Share on twitter
Share on linkedin
Share on email
Looking to grow your business? Look no further.
Becoming a member of the HFA has more benefits than we can list here. Click the button to learn more.
Trending In

HFA Solution Partners

Acima_HFA Solution Partner

Acima is the only lease-to-own program that gives our 3,500+ retail partners the ability to

Form Piper Website Logo

We help retailers automate consumer financing! Our software platform integrates with your current lending options,

Riskified_HFA Solution Partner

Riskified has built an eCommerce risk management platform that allows online merchants to create trusted

Synchrony Financial Logo

Get access to exclusive HFA low everyday rates, monthly buy-down specials, and volume rebates! From

Snap Finance Logo

Snap Finance helps furniture retailers reach their full sales potential by providing financing solutions for

Sign up for more!
From HFA events to the latest member news, get updates straight to your inbox.

Not an HFA member?

Don't miss out on all of our association benefits!