New York, NY., Nov. 4, 2015 -- Sparta Commercial Services, Inc. (OTCQB: SRCO) today announced that for the fourth time, the town of St. Pauls, NC has entered into an agreement with Sparta's Municipal Leasing Program to provide financing for the town's police department police cruiser fleet. St. Pauls began leasing cruisers through Sparta Commercial in 2010 with a fleet of Dodge Chargers and has continued with the program periodically with the latest acquisition being from Ford Motor. St. Pauls is just one of fourteen jurisdictions in the state of North Carolina to have participated in the Sparta Municipal Lease Program, many of whom, like St. Pauls, have continued to lease through Sparta Commercial on a recurrent basis.
The Sparta Municipal Lease Program allows municipal agencies all over the country to take advantage of the alternative the Program offers to governmental agencies to the method of purchasing their essential equipment outright. The Sparta Program supports a wide variety of essential equipment for police, fire, EMS, public transportation, administrative and public works departments, etc., and is especially helpful to those various governmental agencies looking to get more product for their budget.
Commenting on the most recent transaction, Anthony Havens, Sparta's CEO, said, "We continue to see the departments we work with come back to us time and again. Whenever we have recurring transactions with a jurisdiction like St. Pauls, North Carolina, it tells us that our Municipal Program is serving a real need and that it is appreciated and that the relationship has endured."
About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc. (http://spartacommercial.com/) is a leader, in developing, managing, and servicing custom mobile apps for dealer networks and businesses, in providing motor vehicle history reporting to dealers and consumers, and offering and administering vehicle and capital lease programs for municipalities.
Sparta's Mobile Applications Division offers two customizable mobile app products specifically designed for vehicles dealers and for small and growing companies.
iMobileApp (http://imobileapp.com/) is the newest mobile app product from Sparta - providing diverse small and growing companies with a customized mobile app for their businesses, at a fraction of the cost of traditional and web marketing.
Specialty Mobile Apps (http://www.specialtymobileapps.com/) is a product that gives vehicle dealers their own branded mobile app. The app allows dealers to stay in contact with their customers and communicate upcoming and ongoing promotions, special events, new and used inventory, and more.
Specialty Reports, Inc., a subsidiary of Sparta Commercial Services, provides detailed used vehicle title history reports to dealers, insurance companies, credit unions, etc., as well as to consumers. Specialty Reports (http://specialtyreportsinc.com/) is trusted by industry professionals to provide buyers accurate, timely, and thorough title history reports. The Company targets four motor vehicle markets through https://www.carvinreport.com/ (automobiles and light trucks), https://cyclechex.com/ (motorcycles), https://www.rvchecks.com/ (recreational vehicles) and http://truckchex.com/ (commercial trucks).
Sparta's Municipal Leasing Division (http://spartamunicipal.com/) offers and administers a specialized municipal leasing program for local and state agencies. The Company is dedicated to serving jurisdictions with small and growing vehicle fleets who seek 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 a municipality requires. The Municipal Leasing Division also works with larger jurisdictions to provide competitive leasing facilities for specific segments of their fleet portfolio.
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, 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.
Sandra L. Ahman
Sparta Commercial Services, Inc.