SOURCE: Sparta Commercial Services, Inc.

April 17, 2013 09:30 ET

Sparta Commercial Launches New Program

NEW YORK, NY--(Marketwired - Apr 17, 2013) - Sparta Commercial Services, Inc. (OTCQB: SRCO) today announced the launch of a new Merchant Payment Services Program to offer its business customers a lower rate than they're currently paying in credit card processing fees (up to 45%). Partnering with a provider that has been named among INC's 500 fastest growing companies four years in a row, is listed among Nilson's top 100 acquirers, and operates one of the most sophisticated networks and merchant portals in the country, Sparta is initially targeting the thousands of powersports and auto dealers that it has developed business relationships with over many years for this new service.

Given the fact that powersports and auto dealers see relatively high ticket credit card charges for parts, service, and in some instances, sales, the opportunity to offer significantly lower rates than the vast majority of banks and other merchant services providers, represents what Sparta believes is a distinct advantage that will prove highly beneficial to its new customer base.

The new program also offers ATM machine sales and service, and working capital and expansion loans. With 24/7/365 toll-free live support and customer service, and next-day funding, Sparta believes the program is highly competitive and will be extremely well received not just in the initial targeted markets, but also in a continuously broadening number of business sectors.

Commenting on the reports, Anthony Havens, Sparta's CEO, said, "We're excited about the launch of our new Merchant Payment Services Program, as a natural extension of all the technology products and services, and outstanding customer support that we've been providing to businesses for a long time."

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 dealer to manage their own custom dealer mobile application 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 (; Cyclechex, providing Motorcycle History Reports (; RVChecks providing Recreational Vehicle History Reports (; and CarVINreport, providing Automobile and Light Truck History Reports ( 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. The company also partners with a provider to offer its customers merchant services as well as working capital and expansion loans.

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:

Contact Information

  • Contact:

    Sandra L. Ahman
    Corporate Secretary
    Sparta Commercial Services, Inc.
    (212) 239-2666