New York, NY., Dec. 30, 2015 (GLOBE NEWSWIRE) -- Sparta Commercial Services, Inc. (OTCQB: SRCO) today announced that the Christoval Independent School District in central Texas has, for the second time, utilized Sparta's Municipal Leasing Division with the acquisition of a mid-sized 15-passenger Starcraft Bus to supplement their fleet of traditional, larger-capacity school buses.
Sparta's Municipal Leasing Program is a highly popular source for the acquisition of essential equipment by schools, cities, towns, and other municipal jurisdictions around the country. The popularity of the program is due to its ability to provide governmental and other qualifying 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 the budgeting process much more flexible while still securing the often costly items that are required.
Commenting on this latest transaction, Tony Havens, CEO of Sparta Commercial Services, Inc., said, "Over the last few years we have seen a growth in interest in our leasing program from a variety of government entities from volunteer fire departments to police departments, and from sanitation departments to school districts, and there is 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 other Texas jurisdictions, including a motorcycle fleet for the City of Beaumont police department, and has serviced cities and towns across the nation from California to New Jersey and from Michigan to Florida.
The vendor who provided the Starcraft buses for this transaction is Carpenter Bus Sales of Franklin, TN. Starcraft Bus, based in Goshen, Indiana, is a division of Forest River, Inc., a wholly owned subsidiary of Berkshire Hathaway.
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