Sparta Coml Svcs Inc

(OTC: SRCO)

Industry: Consumer Finance
On the web: http://www.spartacommercial.com
Employees: 14

Sparta Commercial Services, Inc. is a Nevada corporation. It is an independent financial services provider, offering consumer retail installment sales contracts and both consumer and commercial lease financing to the powersports industry. The Company's main business is to provide financing products, mainly to purchasers and lessees of new and used motorcycles, scooters, and utility all-terrain vehicles (ATVs) that meet its credit criteria and program parameters. Additionally, it offers commercial fleet leasing to dealers and owners of motorcycle rental fleets and provide, on both a direct and a pass through basis, commercial equipment leasing to municipalities, including, but not limited to, police motorcycles. It has, and continues to develop, relationships with powersports dealers and manufacturers to provide its financing products to their customers. It also seeks to expand its `Private Label' versions of its financing products to motorcycle, scooter, and all-terrain vehicle manufacturers and distributors to enable their dealers to assist their customers in acquiring the powersports vehicle of their choice. It is a specialized consumer finance company engaged mainly in the purchase of retail installment sales contracts and the origination of leases to assist consumers in acquiring new and used motorcycles (550cc and higher), scooters, and 4-stroke ATVs. Normally, vehicle financing products are sold mainly at the dealer level, rather than the consumer level. The Company's strategy is to, additionally, utilize a direct sales force that promotes its products and services to qualified dealers, train them, and provide them with point-of-sale marketing materials. The consumer finance industry is highly fragmented and highly competitive. Broadly speaking, Sparta competes with commercial banks, savings & loans, industrial thrift and credit unions, and a variety of local, regional, and national consumer finance companies. The Company's planned financing operations are subject to regulation, supervision, and licensing under various federal, state, and local statutes and ordinances.