MicroFinancial Incorporated

Woburn, MA United States

  (NASDAQ: MFI)

Company Description

MicroFinancial thinks big when it comes to leasing small-ticket commercial items to small and midsized businesses. Through subsidiary TimePayment, MicroFinancial leases items that are generally valued between $500 and $15,000. Although the "microticket" leaser provides financing for a variety of office and commercial equipment, the majority of the contracts in its portfolio are for point-of-sale authorization systems for debit and credit cards. It doesn't lease and rent equipment directly, but through a network of independent dealers across the US. Internet-based TimePaymentDirect processes applications and approves credit; Insta-Lease provides the same services via telephone, fax, and e-mail.