Nationwide Equipment Financing is Company’s Latest Innovation
NEW YORK, NY / March 8, 2018 / Sparta Commercial Services, Inc. (Symbol: SRCO) today announced the launch of a new Equipment Financing Program designed expressly to meet the needs of small to mid-sized businesses throughout the U.S. Sparta is already known for its long-standing heritage within the Municipal Leasing Market.
The majority of Sparta’s clients, via its iMobile Solutions, Inc. subsidiary, are the small-to-medium-sized businesses that represent our target market for equipment financing. This new program provides equipment financing to companies such as, golf clubs to purchase new cart fleets, vehicle dealerships to purchase new service equipment, and contractors to purchase and upgrade heavy equipment.
According to Anthony Havens, Sparta’s CEO, “Many of our products cross-pollinate throughout the small-to-mid-sized business sector and with our background in providing funding to municipalities, we felt that the next logical step was to deliver financing solutions to businesses across the country. We will offer an array of financing options and can also tailor design solutions as needed.” Havens continued, “We’re particularly enthusiastic about this program and fully expect that the Equipment Financing Program will be an important part of our overall business strategy of identifying the needs of our customers and offering solutions that fit.”
About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc. (www.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. In addition to mobile apps, Sparta provides motor vehicle title history reports to dealers, insurance companies, credit unions, and consumers. The Company also offers nationwide Vehicle and Capital Lease Financing Programs for municipalities as well as Equipment Financing for small to mid-sized businesses./p>
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, (www.imobileapp.com), is a custom, fully-branded app that is an extension of a business’s e-presence.
Additional mobile communications products offered by the Company include website design, development, hosting and SEO services, as well as a robust text messaging and alert service.
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 http://www.carvinreport.com (automobiles and light trucks), www.cyclechex.com (motorcycles), www.rvchecks.com (recreational vehicles), and www.truckchex.com (commercial trucks).
Sparta’s Municipal Leasing Division (www.spartacommercial.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.
Sparta’s Equipment Financing Division offers financing solutions that allow businesses of all types to purchase equipment, such as construction equipment ranging from trucks and cranes to excavators and pavers; agriculture equipment including tractors and combines as well as sprayers and trailers; golf industry equipment covering irrigation equipment, golf cars and turf equipment; marine related equipment ranging from tugboats and barges to dredges and dry docks; waste industry equipment counting refuse and septic trucks plus sweepers and vac trucks. The Sparta Equipment Financing Program is structured to help businesses maximize and forecast their cash flow by designing a solution tailored to each company’s needs.
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 are described from time to time in the Company’s filings with the SEC, which are available on its website at: http://www.sec.gov.
SOURCE: Sparta Commercial Services, Inc.