NEW YORK, Sept. 7, 2011 /PRNewswire/ -- Sparta Commercial Services, Inc. (OTCBB: SRCO) today announced that Hanover, NJ is now the latest municipality to become a client of Sparta Commercial Services' Municipal Lease Program. The Hanover Police Department is updating its Harley-Davidson police motorcycles, and is now the fourth New Jersey jurisdiction, including the City of Newark, to turn to the Sparta program to meet their essential equipment needs.
Sparta's Municipal Lease Program has been gaining significant interest among local towns and cities across the country because of its more cost-effective method of financing the types of assets required by these governmental agencies. With the opportunity to pay for the equipment over time through the Sparta lease, instead of having to pay the entire cost of the purchases up-front, these municipalities are able to lower their annual capital outlays and better conserve their resources. In the current economic climate, the Sparta alternative is being recognized as a smart choice for governmental agencies at all levels.
Anthony Havens, Sparta's CEO, commented, saying, "I'm always pleased when we can help yet another municipality meet their critical needs during these difficult economic times. It's gratifying to see how more and more local governments are becoming aware of our municipal program and making the decision to utilize it."
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.