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| Sparta Welcomes The Queen City to Its Municipal Lease Program |
| New York; August 4, 2009 |
Sparta Commercial Services, Inc. announced today that it has completed a transaction to provide financing in the amount of $172,000 for the leasing of eight 2009 BMW police motorcycles for the City of Charlotte, North Carolina.
Commenting on the latest city to use Sparta’s Municipal Lease Product, Anthony Havens, Sparta’s CEO, said, "We welcome the City of Charlotte to our growing network of municipalities. As tax revenues decrease, the best way for municipalities to acquire the equipment they need is through a leasing product like Sparta’s. With our Municipal Leasing Product, Police Departments are able to stretch their cash flow dollars further, allowing them to acquire the same amount of equipment for less upfront cash required or to acquire additional equipment without the need for additional cash. It’s the difference between having to further burden an already strained budget with a complete allocation up front or making much less demanding lease payments in installments over time."
While Sparta's primary focus continues to be on nationwide consumer financing and leasing in the powersports industry, the Company's Municipal Lease Product accommodates most equipment and asset classes in addition to police motorcycles.
"Given the current economic circumstances, and the difficulties facing governmental agencies throughout the country, we expect that our Municipal Leasing business will continue to grow, and we are pleased to know that we can help ease the financial burdens faced by these governmental agencies," concluded Havens.
Contact:
Dick Trotter, COO
Sparta Commercial Services, Inc.
212-239-2666
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