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Sparta Commercial Services, Inc. reports developments across a fintech and private-credit business with diversified operations in financial services, e-commerce and mobile technology, and health and wellness. Its Agoge Global USA subsidiary operates EZBroker360, a platform for staged financing, compliance, invoicing, settlement and cross-border payment support for Brazilian import and export activity.
Company news also covers municipal and commercial financing transactions, credit-line relationships, lending capacity updates, platform adoption, technology partnerships and product launches. Sparta has also reported its completed move of SRCO common stock to the OTCQB Venture Market.
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Sparta Commercial Services, Inc. (OTC PINK:SRCO) announced a strategic partnership between its subsidiary Agoge Global USA and WeDev Group, a Brazilian software and blockchain innovator. The collaboration aims to enhance cross-border payments between Brazilian exporters and US importers using stablecoins and blockchain technology. This initiative is expected to reduce transaction times from days to hours and lower costs significantly. The partnership will commence in early 2023, with a five-year initial agreement and potential for further technological expansion.
Sparta Commercial Services, Inc. (OTC PINK:SRCO) announced the addition of The Country Club of Winter Haven in Florida to its client roster. This partnership enhances their mobile app offering through iMobileApp, which specializes in digital marketing for member-based clubs. The app includes tools like food ordering, notifications, and event promotions, leading to increased member engagement. Dyal Randall, Membership Director, expressed positive feedback from members about the app's utility. Sparta continues to expand its diverse portfolio of services.
Sparta Commercial Services (OTC PINK:SRCO) announced a partnership with ZAGMotoX to provide the iMobileApp, enhancing customer access to aftermarket powersports parts and accessories. ZAGMotoX's Parts Manager praised the app for its professionalism and ease of use. Sparta's CEO expressed pride in delivering a valuable tool for ZAGMotoX's online business. The iMobileApp is part of Sparta's broader service offerings, which include custom mobile applications and municipal financing solutions.
Sparta Commercial Services (OTC PINK:SRCO) announced that the Leon County Sheriff's Department selected its Municipal Lease program to finance Harley-Davidson police motorcycles. This program enables municipalities to spread equipment costs over time, reducing annual capital outlays. Sparta's Municipal Finance Program caters to various asset classes, aiding local agencies in securing necessary equipment more affordably. Tim Coxwell from the Sheriff's Office praised Sparta's competitive rates and efficient documentation process, enhancing ease of transaction.
Sparta Commercial Services (OTC PINK: SRCO) launched SpartaPayIQ, a payment gateway for businesses to accept cryptocurrencies like Bitcoin, Ethereum, and Dogecoin.
Settlements can be made in USD or EUR, with options to retain cryptocurrency. The system utilizes blockchain technology to stabilize exchange rates for 15 minutes post-invoice creation, reducing volatility risks.
This launch marks Sparta's entry into the cryptocurrency sector and is part of a broader strategy to introduce additional cryptocurrency products in the future.
Sparta Commercial Services (OTC PINK:SRCO) has announced the Town of Yemassee, SC, is returning to its Municipal Finance Program for the sixth time since 2016, primarily for affordable equipment financing. Chief Gregory Alexander emphasized the program's ease and budgetary fit for municipal needs. As COVID restrictions ease, Sparta anticipates increased budget allocations for essential equipment. The program supports municipalities with financing for various needs, including police and emergency services equipment, since 2006, highlighting ongoing relationships with municipal clients.
Sparta Commercial Services (OTC PINK:SRCO) has secured another contract with the Town of Candor, NC, marking the 11th time since 2014 that the municipality has utilized Sparta's Municipal Finance Program. The program allows towns to finance essential equipment such as police and fire equipment over time, enhancing budgetary flexibility. Tammy Kellis, the Town Clerk, praised Sparta's smooth collaboration. Sparta's financial services cater to various North Carolina jurisdictions, including major cities like Charlotte and Raleigh, aiming to support municipalities in managing their essential equipment needs efficiently.
Sparta Commercial Services (OTC PINK:SRCO) announced the addition of a premier private car club in the Southwest as a user of its iMobileApp technology, highlighting the growing demand from various clubs. The iMobileApp offers essential features for private and public clubs, enhancing member experience and communication. CEO Anthony Havens emphasized the importance of secure access for club members, indicating a commitment to improving app functionalities. The company continues to explore opportunities for expanding its client base as club interest in mobile solutions rises.