NEW YORK — Sparta Commercial Services Inc. announced that it has signed a letter of intent to acquire the assets of a Denver-based consumer finance company.

The assets to be acquired include a portfolio of performing motorcycle loans in excess of $14 million, inventory, cash and other assets. Sparta expects the transaction to close by January 31, 2010.

The acquisition is subject to the completion of a definitive purchase/sale agreement, Sparta's completion of due diligence, the receipt of audited financials, and certain other factors. The ultimate purchase price is subject to adjustment at closing based on the value and performance of the portfolio to be acquired.