NEW YORK, NY--(Marketwired - Aug 26, 2013) - Sparta Commercial Services, Inc. (OTCQB: SRCO) announced today that through its Municipal Lease Program, the Company has entered into a second agreement to provide the Clayton, NC police department with the financing necessary to further expand its fleet of BMW police motorcycles. Clayton is one of ten North Carolina municipalities utilizing Sparta's Municipal Lease Program to meet their essential equipment needs, and the fifth thus far to return to the Sparta program for their new vehicular requirements.
The Sparta Municipal Lease Program is becoming increasingly popular among towns and cities across the country as a smarter and more economical way to acquire their necessary equipment, since the Sparta program enables any municipality to pay for those acquisitions over time, rather than entirely up-front through traditional purchasing. Sparta's financing program eliminates the governmental burden of having to include large capital outlays in any given fiscal year. At a time when municipal budgets are especially tight, local officials are being drawn to Sparta's Municipal Leasing Program in ever greater numbers.
Commenting on the latest Clayton transaction, Anthony Havens, CEO of Sparta, said, "Whenever we have the kind of confidence shown by this type of repeat business it's especially gratifying, and it reinforces the value of our Municipal Lease Program and the success of the relationship-building our professional staff is able to achieve. We look forward to supporting Clayton, and the other North Carolina municipalities we're doing business with, well into the future."
About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc. is a New York-based technology company that has roots in the powersports industry where it had originally focused primarily on providing consumer and municipal financing to powersports, recreation, and auto industries. Through its subsidiary, Specialty Reports, Inc., the Company offers a range of online tools and products that include a Mobile App product for Powersports, Recreational Vehicle, Watercraft, and Auto dealers, that 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); and CarVINreport, providing Automobile and Light Truck History Reports (www.carvinreport.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.
This news release contains forward-looking information within the meaning of federal securities regulations. These forward-looking statements include statements related to the possible outcome of this case or any other litigation. These forward-looking statements involve risks and uncertainties, including those described from time to time in the Company's filings with the Securities and Exchange Commission (SEC) that could cause the actual results to differ materially from those anticipated by these forward-looking statements. In particular, the ultimate outcome of this case or any litigation is always uncertain and may differ materially from what is currently anticipated. The Company assumes no obligation to update any forward-looking information contained in this press release.