Sparta Commercial Launches New Program
NEW YORK, NY -- (Marketwired) -- 04/17/13 -- Sparta Commercial
Services, Inc. (OTCQB: SRCO) today announced the launch of a new
Merchant Payment Services Program to offer its business customers a
lower rate than they're currently paying in credit card processing
fees (up to 45%). Partnering with a provider that has been named
among INC's 500 fastest growing companies four years in a row, is
listed among Nilson's top 100 acquirers, and operates one of the most
sophisticated networks and merchant portals in the country, Sparta is
initially targeting the thousands of powersports and auto dealers
that it has developed business relationships with over many years for
this new service.
Given the fact that powersports and auto dealers see relatively high
ticket credit card charges for parts, service, and in some instances,
sales, the opportunity to offer significantly lower rates than the
vast majority of banks and other merchant services providers,
represents what Sparta believes is a distinct advantage that will
prove highly beneficial to its new customer base.
The new program also offers ATM machine sales and service, and
working capital and expansion loans. With 24/7/365 toll-free live
support and customer service, and next-day funding, Sparta believes
the program is highly competitive and will be extremely well received
not just in the initial targeted markets, but also in a continuously
broadening number of business sectors.
Commenting on the reports, Anthony Havens, Sparta's CEO, said, "We're
excited about the launch of our new Merchant Payment Services
Program, as a natural extension of all the technology products and
services, and outstanding customer support that we've been providing
to businesses for a long time."
About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc. is a New York-based technology
company that has roots in the powersports industry where it had
originally focused primarily on providing consumer and municipal
financing to powersports, recreation, and auto industries. Through
its subsidiary, Specialty Reports, Inc. the Company offers a range of
online tools and products that include a Mobile App product for
Powersports, Recreational Vehicle, Watercraft, and Auto dealers, that
allows the de
aler to manage their own custom dealer mobile
application that are made available on multiple platforms such as
iPhone, iPod touch, iPad, Android Mobile, Android Tablet and Kindle
Fire, giving consumers access to the dealerships' inventory, sales
and service departments, hours, locations, special events and more
(www.specialtymobileapps.com); Cyclechex, providing Motorcycle
History Reports (www.cyclechex.com); RVChecks providing Recreational
Vehicle History Reports (www.rvchecks.com); and CarVINreport,
providing Automobile and Light Truck History Reports
(www.carvinreport.com). All of the vehicle history reports cited
above are designed for consumers and retail dealers as well as for
auction houses, insurance companies and banks/finance companies.
Sparta continues to administer an ever-growing Municipal Leasing
Program for local and/or state agencies throughout the country
seeking 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 required.
Sparta is an innovative and diversified Company dedicated to
identifying the needs and interests of its targeted markets, and
developing products and services specifically designed to meet those
needs and interests now, and well into the future. The company also
partners with a provider to offer its customers merchant services as
well as working capital and expansion loans.
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, obtaining, satisfying terms of, and amount
of credit lines, 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
Sandra L. Ahman
Sparta Commercial Services, Inc.
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