NEW YORK — After conducting analysis spotting a significant need, Sparta Commercial Services this week is launching a new consumer leasing program targeted at the non-prime powersports market.

Fueled by a multimillion-dollar line of credit it closed recently, Sparta believes it is uniquely positioned to assist powersports dealers throughout the country who have had difficulty finding financing for their customers.

Sparta explained that it decided to structure this program as a non-prime initiative after analyzing the motorcycle industry. The company indicated that it found this segment was not served at all because of lenders' tightened, more restrictive credit criteria.

Executives plan to roll out the program gradually as demand dictates, focusing on states where powersports dealers are more prevalent. They also plan to leverage the 2,000 registered dealers already in Sparta's pipeline.

"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," stated Anthony Havens, chief executive officer of Sparta.

"In today's market, people who would have easily been approved by most lenders just two years ago are now being declined for no reason other than the fact their credit scores are no longer sufficiently high enough for approval by most lenders. Once again, Sparta is responding to the needs of dealers and consumers with a new program that specifically addresses those issues," Havens explained.

Sparta has high hopes for this program and its potential benefit to powersports dealers and their customers.

"I believe that in the current economic climate, finding a financial partner that shares our vision of the unmet needs in the marketplace and the willingness to supply the funding to back up that vision is a strong validation of our analysis," Havens emphasized.

"The timing and industry circumstances lead us to believe that this program will be extremely well received by dealers and consumers," he concluded.