SOURCE: Sparta Commercial Services, Inc.

April 16, 2014 09:15 ET

Candor, NC Turns Again to Sparta Commercial's Municipal Lease Program to Meet Its Major Equipment Needs

NEW YORK, NY--(Marketwired - Apr 16, 2014) - Sparta Commercial Services, Inc. (OTCQB: SRCO) announced today that for the second time in four months, Candor, NC has selected Sparta's Municipal Lease Program for the acquisition of essential major equipment for the municipality. The latest transaction is for a new Fire Department Brush Truck that will replace a thirty-year old unit. The previous transaction, which occurred in January, 2014, covered the acquisition of new Dodge Charger Police cars for Candor's Police Department.

Candor is one of twelve North Carolina jurisdictions that has used Sparta's Municipal Lease Program, including Charlotte, Greenville, and Raleigh; and the program has been gaining broad interest and popularity among city, county and various governmental agencies with budgeting and expenditure responsibilities. The primary reason for the growing popularity among these authorities is the fact that Sparta's leasing alternative enables the municipality to spread the cost of the equipment over time, rather than having to pay the full amount up-front. As a result, jurisdictions have greater flexibility with their budgeting and allocation, allowing their tax revenues to go further.

Philip Hearne, Candor's Mayor, commented on the most recent transaction, saying, "Our first experience in working with Sparta, when we acquired the police cruisers a few months ago, was so simple and uncomplicated that when we decided to go forward with the new Fire Department Brush Truck, it just made sense to return to Sparta's Municipal Lease Program. The terms they set up for us fit our budgetary needs and their staff once again helped make the process painless and productive."

The vendor for this transaction is Fire Equipment Sales and Services of Sumter, South Carolina.

In March, 2014, the Sparta Municipal Lease Program also delivered a Dodge Charger Police cruiser to the Allendale County, SC Sheriff's Department.

For further information about Sparta's Municipal Lease Program, call 800-882-0778 or visit www.spartamunicipal.com.

About Sparta Commercial Services, Inc.

Sparta Commercial Services, Inc. is a New York-based technology company that originally focused primarily on providing consumer and municipal financing to powersports, recreation, and auto industries. Through its subsidiary, Specialty Reports, Inc., the Company now offers a range of online tools and products that include a Mobile App product for Powersports, Recreational Vehicle, Watercraft, and Auto dealers, which allows the dealers to manage their own custom dealer mobile applications that are made available on multiple platforms such as iPhone, iPod Touch, iPad, Android Mobile, Android Tablet and Kindle Fire, giving consumers access to the dealerships' inventory, sales and service departments, hours, locations, special events and more (www.specialtymobileapps.com); Cyclechex, providing Motorcycle History Reports (www.cyclechex.com); RVChecks, providing Recreational Vehicle History Reports (www.rvchecks.com); CarVINreport, providing Automobile and Light Truck History Reports (www.carvinreport.com); and Truckchex, providing Heavy Duty Truck History Reports (www.truckchex.com). All of the vehicle history reports cited above are designed for consumers and retail dealers as well as for auction houses, insurance companies and banks/finance companies. Sparta continues to administer an ever-growing Municipal Leasing Program for local and/or state agencies throughout the country seeking a better and more economical way to finance their essential equipment needs; from police motorcycles and cruisers, to EMS equipment and busses, to virtually any type of equipment required. Sparta is an innovative and diversified Company dedicated to identifying the needs and interests of its targeted markets, and developing products and services specifically designed to meet those needs and interests now, and well into the future.

Forward-Looking Statements

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, 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

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