SOURCE: Sparta Commercial Services, Inc.

September 17, 2009 08:30 ET

Bill Kenney Joins Sparta Commercial Services

NEW YORK, NY--(Marketwire - September 17, 2009) - Sparta Commercial Services, Inc. (OTCBB: SRCO), the New York-based financial services company, today announced the appointment of Bill Kenney as Vice-President, Client Development.

Mr. Kenney has over sixteen years of experience in the financial services sector of the powersports industry, most recently with GE Money, where he served as National Program Manager since 2001. In that role, Mr. Kenney was responsible for managing the national consumer finance programs for some of the leading manufacturers in the powersports industry. These clients included BRP, Honda Motorcycles, and Ducati North America. Prior to his tenure at GE Money, Mr. Kenney served as National Sales Manager for Transamerica Retail Financial Services for three years, where he worked closely with Honda Motorcycles to introduce their revolving Honda Card Program.

Earlier in his career, Mr. Kenney also served in a variety of roles with Chase Merchant Services and Household Retail Services (currently HSBC), where he managed the relationships with Kawasaki Motors Corporation, USA, and Bombardier, Inc., two of Household's largest and oldest customers.

Commenting on Mr. Kenney's appointment, Anthony Havens, Sparta Commercial's CEO, said, "Bill Kenney brings with him a truly outstanding background in the financial services sector of the powersports industry. The quality of the relationships he's developed over the years with some of the largest powersports manufacturers and their dealer networks will be very valuable to our organization. His skills and knowledge of the intricacies of consumer retail lending and underwriting, risk assessment, and specialty finance programs will greatly benefit Sparta and our dealer network. We are very enthusiastic about Bill becoming a part of our dedicated management team and we're confident that his contributions will be significant."

About Sparta Commercial Services: Sparta Commercial Services is a New York-based, nationwide financial services company dedicated to the powersports industry, offering financing and leasing products to consumers and retail powersports dealers, as well as a variety of commercial products for governmental agencies that require motorcycles and other equipment for law enforcement activities.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are valid only as of today and we disclaim any obligation to update this information. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to potential future losses, obtaining, satisfying terms of, and amount of credit lines, competition, financing and commercial agreements and strategic alliances, seasonality, potential fluctuations in operating results and rate of growth, management of potential growth, system interruption, consumer and industry trends, limited operating history, and government regulation. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC, which are available on its website at: http://www.sec.gov.

Contact Information

  • Contact:
    Dick Trotter
    COO
    Sparta Commercial Services, Inc.
    (212) 239-2666