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| SPARTA AND LEMCO MANAGEMENT GROUP ANNOUNCE STRATEGIC ALLIANCE
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| New York; March 9, 2006 |
Sparta Commercial Services, Inc., the New York-based financial services company dedicated to the powersports industry, and Lemco Management Group, Inc., the Denver-based company which provides consulting and training services for over 300 powersports dealers throughout the U.S., today announced the formation of a strategic alliance which the two companies believe will prove highly beneficial to both entities, as well as to the growing network of dealers that Lemco Management Group and Sparta serve.
"We’re extremely enthusiastic about this relationship with Lemco Management Group", said Anthony Havens, CEO of Sparta. "Lemco Management Group has developed an outstanding reputation in the industry over the past 25 years," Havens continued, "and the services they offer to over 300 dealers – particularly in the area of consumer financing strategies – represent an ideal showcase for Sparta’s unique leasing and financing programs."
Sam Dantzler, President of Lemco Management Group, added, "One of our primary focuses is to help our dealers realize more profitability in their F&I departments, and Sparta’s innovations – especially its iPLUSTM application processing system, its Prime/Non-Prime program, its Flex Lease program, and its new Lease-to-Rent program – are the kinds of initiatives that we want to promote among our dealers."
According to Havens, "Sparta’s Prime/Non-Prime program gives dealers a greater opportunity to capture customers whose credit is less than perfect, without burdening the dealer with unreasonably high discount fees, and our Flex Lease offers consumers and dealers advantages that no installment loan can compete with."
Dantzler described his enthusiasm about Sparta’s Lease-to-Rent program, saying "Motorcycle rental programs have become a strong profit center for dealers, and Sparta’s program offers dealers an alternative to borrowing or depleting their cash reserves in order to get into the business, or to upgrade their rental fleets."
Havens concluded by saying, "To be identified as a "preferred lender" by Lemco Management Group is something we’re proud of and excited about, and Sparta looks forward to working closely with Sam and the rest of Lemco Management Group to develop the new programs and policies that powersports dealers want and need."
About Sparta Commercial Services:
Sparta Commercial Services, Inc. (www.spartacommercial.com) is an Internet-based acceptance (sales finance) and leasing company dedicated exclusively to the powersports industry, which includes motorcycles over 600cc, 4-stroke all-terrain vehicles, and select scooters through private label programs for manufacturers’ distributors. Sparta provides a full line of financing solutions including indirect retail installment sales contracts and direct closed-end leases, as well as related services including GAP coverage and vehicle service contracts.
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