VION Receivable Investments Announces Multi-Million Dollar Line of Credit for Sparta Commercial Services, Inc.

Atlanta  – VION Receivable Investments (VION) is pleased to announce its agreement to provide a multi-million dollar financing facility for the consumer lease program of Sparta Commercial Services, Inc. (OTC BB: SRCO). The Sparta program will offer motorcycle lease financing for non-prime consumers in more than 2,000 dealerships throughout the country.

"A large segment of the vehicle industry is underserved because of tightened and more restrictive lender credit criteria," said Stacey Schacter, CEO of VION. "Dealerships are looking to provide financing options for consumers who would have been easily approved by most lenders just two years ago.  Our agreement with Sparta positions us to fill that void and significantly strengthens our position in the vehicle financing market." 

Anthony Havens, Sparta’s CEO, said, “It isn’t a case of more consumers with poor credit as much as it is the ever-higher minimum credit scores that other lenders are requiring. I believe that in the current economic climate, finding a financial partner such as VION who shares our analysis and vision of the unmet needs in the marketplace and has the willingness to supply the funding to back up that vision is crucial to the continued growth and success of our business.”

The new program will be rolled out gradually in order to accommodate expected strong demand. The rollout will initially focus on specific states where the demand is likely to be the heaviest, and then expanded to include additional states as the program builds momentum to include Sparta’s 2,000 registered dealers.

About VION Receivable Investments
VION Receivable Investments, headquartered in Atlanta, Georgia, is an international provider of receivable investment services to businesses managing consumer and commercial receivables. VION provides a single, comprehensive source of expertise in receivable financing, purchasing, process consulting, and valuation.

For more information, please visit vioninv.com or contact Larry Curran II, Executive Vice President at 970-212-4645, lcurran@vioninv.com.