New York, NY, Dec. 16, 2016 (GLOBE NEWSWIRE) —
Sparta Commercial Services, Inc. (OTC: SRCO) today announced that the Town of Holden Beach, NC has, for the third time, utilized Sparta’s Municipal Leasing Division for acquiring additional vehicles for their Police Department’s Special Vehicle fleet.
Sparta’s Municipal Leasing Program is a highly popular source for the acquisition of essential equipment by cities, towns, and other municipal jurisdictions around the country. The popularity of the program is due to its ability to provide governmental agencies with a more economical method for acquiring needed vehicles and other equipment than traditional up-front purchasing. The Sparta alternative enables jurisdictions to spread the payments over time, making budgeting much more flexible while still securing the often costly items that are required.
Frank Dilworth of the Holden Beach PD commented, “Our department made the decision to try financing select vehicles initially in 2013. We chose Sparta Commercial Municipal Leasing as a source, as we could see they had a good reputation in the community and had a good existing relationship with our vehicle vendor. Our needs were a bit specialized in that we required funds disbursed not only for the vehicle, but for cage, video, and communication accessories as well. Sparta was able to smoothly work with all of our vendors on the financing side, allowing us to concentrate on the simple delivery of the vehicle. We have since gone back to Sparta in 2014 and again just now in 2016. Nothing has changed – Sparta makes the process as easy as possible and gives us flexibility in our budget so we don’t have to decide between competing needs.”
Anthony Havens, CEO of Sparta Commercial Services, Inc., noted, “We’ve seen a clear pattern in that municipal agencies that use our program often use it again as new needs arise. This naturally recurring business is great for the company as it allows us to concentrate our marketing efforts in more needed places, and it is great for the clients we serve as they can be confident that they will be supported by a reliable solution when new equipment is required.”
Sparta has already provided finance leasing to 24 other Carolina agencies, including the cities of Raleigh, Charlotte and Greenville.
The vendor for the transaction is Ilderton Dodge Chrysler Jeep Ram, based in High Point, NC, which has provided the vehicles in over a dozen previous Sparta leasing transactions.
About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc. (OTC: SRCO) (http://spartacommercial.com/), through its subsidiary, iMobile Solutions, Inc., is a leader, in developing, managing, and servicing custom mobile apps for vehicle dealers from Harley-Davidson® to John Deere, automobiles and RVs, restaurants, liquor stores, clubs, and other businesses in 49 states and Canada; as well as developing and hosting innovative websites. In addition to mobile apps and websites, Sparta provides motor vehicle title history reports to dealers, insurance companies, credit unions, and consumers. The Company also offers vehicle and capital lease finance programs for municipalities.
iMobile Solutions, Inc. offers customizable mobile applications designed for vehicle dealers, providing for ongoing contact with their customers and communications of upcoming and ongoing promotions, special events, new and used inventory, and more, and for a wide range of other businesses and entities, offering a customized mobile app designed specifically for their purposes, at a fraction of the cost of both traditional and web marketing. iMobileApp, (http://imobileapp.com/), is a custom, fully-branded app that is an extension of a business’s e-presence. In addition, the company offers complete website design, development, hosting, support and maintenance.
The Company also provides detailed used vehicle title history reports to dealers, insurance companies, credit unions, etc., as well as to consumers. The reports are 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
Vice President, Operations
Sparta Commercial Services, Inc.
Source: Nasdaq Automotive News