NEW YORK, Jan. 4, 2012 /PRNewswire/ -- Sparta Commercial Services, Inc. (OTCBB: SRCO) today announced that McCook, IL has become the latest municipality to join Sparta's Municipal Lease Program with the acquisition of new industrial maintenance equipment. The transaction also represents a further expansion of the asset class range that the Sparta Program can and will support, which includes police motorcycles and cruisers, tactical and utility vehicles, fire and emergency equipment, and virtually all types of essential equipment considered necessary by a given jurisdiction.
According to Sparta, the continuing growth of its Municipal Lease Program reflects a desire among an increasing number of municipalities across the United States to lower their annual capital outlays at a time when they are challenged by decreasing revenues but still require equipment for essential services. Sparta's Municipal Lease Program offers municipalities the opportunity to conserve capital within their annual budgets. Leasing the equipment allows for payments to be made over time, rather than paying the entire purchase price up front.
Derek Molis, McCook's Director of Operations and Events, commented, "This was our first experience with Sparta's Municipal Lease Division, and the people there were helpful and thoughtful, and worked closely with us through the entire process. They handled our leasing arrangement with an acute knowledge concerning governmental processes and procedures, and we are very pleased with the quality of their involvement."
Joe Moran, representative for Atlas First Access Material Handling, the vendor providing the equipment for the transaction, commented, "All I can say is that although this was our first experience with Sparta's Municipal Leasing Program, their attention to detail, outstanding communications, and overall professionalism, was everything we could have hoped for. We hope to utilize their services more often with our other municipal clients."
Summing up, Anthony Havens, Sparta's CEO, said, "As we expand the asset classes of leasable equipment, and as we bring on an ever-increasing number of cities, states, towns and villages to our Municipal Lease Program, our commitment to the principle of providing a more cost-effective way for municipalities to acquire the essential equipment they need is continually reinforced. We understand the economic difficulties governmental agencies are facing, and whenever we can help with our Municipal Lease Program, we're particularly pleased."
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.