Renewal Extends Partnership to Support Import Growth and Financial Stability

NEW YORK, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Sparta Commercial Services, Inc. (OTC: SRCO) ("Sparta" or the "Company"), through its subsidiary Agoge, announced the renewal of its global credit line agreement with Patta Brazil (“Patta”). This extension reaffirms Agoge’s commitment to providing tailored financial solutions that support businesses navigating complex import challenges.

Since its initial engagement with Agoge, Patta has benefited from enhanced cash flow flexibility, enabling it to meet supplier deadlines, reduce operational costs, and expand its import volume. The credit line has played a critical role in Patta’s growth, allowing for increased hiring and operational scaling.

"Agoge’s financing solution has been instrumental in our ability to scale operations efficiently," said Nelson Miano Junior, CEO of Patta Brazil. "With their extended payment terms and streamlined process, we have not only increased our import capacity but also secured financial stability that enables us to focus on long-term growth."

With this renewal, Patta Brazil aims to further increase its import volume, targeting an annual goal of 120 containers over the next five years. Patta has already seen significant gains, with a 50% projected revenue increase this year alone, and performance exceeding expectations in recent months.

"Many importers struggle with cash flow misalignment and the high costs of nationalization," added Miano. "Agoge’s solution allows us to avoid unnecessary financial burdens, such as demurrage fees, and ensures that our operations run smoothly and predictably. We highly recommend their services to other businesses facing similar challenges."

Eduardo Ribeiro Filho, Founder of Wedev Group, said “We developed EZBroker360 with the intention to provide solutions to support importers and allow them to focus on growing their business. Patta’s appreciation means a lot to us, and we look forward to further growing our relationship.”

Agoge’s financing model continues to differentiate itself by offering direct access to decision-makers, competitive rates, and a hassle-free approval process. This renewal solidifies its position as a trusted partner for businesses seeking to optimize their import financing strategies.

“We love receiving feedback from our clients and the fact that Patta has already made several recommendations of our product to other companies speaks volumes” said Anthony Havens, Sparta’s CEO. “We will continue to listen to our clients and work to develop solutions that strengthen their ability to meet their financial commitments” Havens added.

For more information about Sparta Commercial Services and Agoge’s financing solutions, visit www.spartacommercial.com and www.agogeglobalusa.com.

About Sparta Commercial Services, Inc.
Sparta Commercial Services, Inc. (www.spartacommercial.com) was founded in 2004 and is the parent company of three subsidiaries in addition to Agoge Global USA, Inc., iMobile Solutions, Inc., New World Health Brands, Inc., and Sparta Crypto, Inc., offering a variety of products and services.

About Agoge Global USA, Inc. 
A subsidiary of Sparta Commercial Services, Inc., Agoge Global USA, Inc. is a provider of finance, facilitation, and communications, within the import/export sector. With a focus on underserved markets, innovation, and customer satisfaction, Agoge strives to deliver exceptional value for its clients. For more information, visit www.agogeglobalusa.com.

About WeDev Group Ltda.
WeDev Group Ltda. is a Brazilian innovator focused on the disruption of traditional standards by fostering innovation and growth through new business models capable of transforming the way the world works.

Forward-Looking Statements
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, competition, financing and commercial agreements and strategic alliances, seasonality, possible 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 at: www.sec.gov.

Company Contact:
Sandra L. Ahman
Corporate Secretary
Sparta Commercial Services, Inc.
sandy@spartacommercial.com