Sparta Commercial Welcomes Essex Fells, NJ to its Municipal Lease Program
NEW YORK, Sept. 28, 2011 /PRNewswire/ -- Sparta Commercial Services, Inc. (OTCBB: SRCO) today announced that Essex Fells, NJ, has become the most recent jurisdiction to join the growing number of municipalities across the country that are utilizing Sparta's Municipal Lease Program for the acquisition of their essential equipment. Essex Fells is the fifth New Jersey municipal agency—including the City of Newark—to join the ranks that have selected the Sparta Municipal Program to acquire the Harley-Davidson police motorcycles they require.
Sparta's Municipal Lease Program is becoming increasingly popular among towns, cities, and other government entities throughout the United States as an alternative to the traditional "all cash up-front" method of acquiring their necessary equipment. The emerging preference for the Sparta program lies in the fact that it enables these governmental agencies to pay the cost of equipment over time and avoid the burden of having to place additional strains on limited annual budgets. This is of critical value to these jurisdictions in these already difficult economic times.
Commenting on the transaction, Lieutenant Donald Allen of the Essex Fells Police Department said, "This is our first experience with Sparta's Municipal Lease division and I can report that the entire process went smoother and easier than we could have hoped. We will consider Sparta for future leasing needs as well."
Paul McGlynn, Operations Manager at Liberty Harley-Davidson in Rahway, NJ, which is the vendor that supplied the motorcycles for this and another Sparta transaction, added, "Working with Sparta's Municipal Lease professionals is definitely a pleasure. They have a keen understanding of our needs, and they consistently make the transactions as simple and straightforward as possible."
In closing, Anthony Havens, Sparta's CEO, said, "Every time we're able to help these critical agencies meet their equipment needs in a more economical way, we take special pride in accomplishing the task. Not only do these local governments deserve to have the newest and most reliable equipment available, they also deserve to have the most cost-effective means possible to meet their equipment needs and we know that we're providing that for them."
About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc. is a New York-based nationwide, multi-product and services company focused primarily on the powersports, recreation, and auto industries. Through its subsidiary, Specialty Reports, Inc. the Company offers a range of much-in-demand online tools and products that include a competitively priced Specialty Mobile App product for Powersports, Recreational Vehicle, Watercraft, and Auto dealers, utilizing the most advanced technologies currently available (www.specialtymobileapps.com); Cyclechex Motorcycle History Reports (www.cyclechex.com); RV Checks for Recreational Vehicle History Reports (www.rvchecks.com); and CarVin Report (www.carvinreport.com), with all of the vehicle history reports cited above designed for consumers and retail dealers. Sparta also offers consumer financing products through a nationwide network of powersports dealers, and 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 material 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.
Sandra L. Ahman
Sparta Commercial Services, Inc.
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
SOURCE Sparta Commercial Services, Inc.
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