Kmart offers lease-to-own financing for the holidays

Kmart is rolling out a lease-to-own financing program for stores across the country this holiday season, expanding access to merchandise valued at $150 and over for customers and Shop Your Way members.

The program, which allows customers to take home higher-priced items with no credit requirement, was initiated in various test markets beginning Oct. 15 and will be available in all stores by Nov. 22.

"Kmart's lease-to-own program will help ease some of the financial barriers our members and customers will face this holiday season," said Jai Holtz, VP financial services, Sears Holdings. "For members and customers who have an immediate need, lease-to-own gives a full house assortment of products and a way to pay."

The program encompasses more than 600,000 products across the various segments of the Kmart business. The financing option will be extended to all customers aged 18 and over who earn a minimum of $1,000 a month and can provide a social security or tax identification number.