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| SPARTA COMMERCIAL CONTINUES TO EXPERIENCE STRONG PORTFOLIO PERFORMANCE |
| New York; March 30, 2009 |
Sparta Commercial Services, Inc., the New York-based, nationwide, financial services company dedicated exclusively to the powersports industry, announced that despite the current global economic climate, the performance of its portfolio of consumer retail installment sales contracts and leases continues to perform in line with expectations.
According to the company, as of December 31, 2008, the number of accounts over 30 days past due, as a percent of outstanding balances, was 3.87% compared to 3.70% at the same time last year. A major competitor has reported year end 30 day delinquencies of 6.29%.
Commenting on this, Anthony Havens, Sparta's CEO, said "Our proprietary online credit decisioning software and portfolio management methodology continue to demonstrate the strength of our credit criteria and servicing platform. We’re especially focused on our performance during this challenging time and we’re pleased with our positive results."
Contact:
Dick Trotter, COO
Sparta Commercial Services, Inc.
212-239-2666
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