New York, NY, May 7, 2015 (GLOBE NEWSWIRE) -- Sparta Commercial Services, Inc. (OTCQB: SRCO) today announced that the city of Garden Grove, CA has become the latest jurisdiction to join the company's Municipal Lease Program with the acquisition of new BMW police motorcycles through the Sparta program.
Sparta's Municipal Lease Program fills an important financing void for cities, towns, states, and counties that have a strong need to acquire a variety of essential equipment. The Sparta program allows governmental agencies to lease over a number of years, rather than purchase that equipment, and thereby reduce the strain on their capital budgets. The program provides a more cost-effective opportunity for municipalities to get the necessary equipment they need while economic circumstances demand greater frugality by governments at all levels. The Sparta Municipal Lease Program can accommodate nearly every type of asset class, including -- in addition to police motorcycles -- surveillance equipment, fire and emergency equipment, police cruisers, tactical and utility vehicles, and virtually any type of equipment considered essential by local or state agencies.
David Diaz, General Manager of Irv Seaver Motorcycles in Orange, CA, the dealer providing the motorcycles for this transaction, said, "We take pride in working with our local police agencies and when Garden Grove requested a lease-purchase option we were able to contact Sparta Commercial to provide the financing. This is our first time working with Sparta Commercial and our first time working through this type of municipal lease and the folks at Sparta were helpful, available, and easy to work with. They took care of the financing and left the motorcycle sales to us. We're pleased and hope to do more business like this in the future."
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.
Forward-Looking Statements
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.
Contact:
Sandra L. Ahman
Corporate Secretary
Sparta Commercial Services, Inc.
sandy@spartacommercial.com
800-882-0778