| MicroFinancial Incorporated, through its wholly owned subsidiary, Leasecomm Corporation, operates as a specialized commercial finance company. It leases and rents microticket equipment, as well as provides other financing services. The company primarily leases authorization systems for point-of-sale, card-based payments by debit, credit, and charge cards. It also leases a variety of other equipment, including advertising and display equipment, coffee machines, paging systems, water coolers, and restaurant equipment. Additionally, the company acquires service contracts and contracts in certain other financing markets. MicroFinancials residential financings include acquiring service contracts from dealers that primarily provide security monitoring services. The company offers LeasecommDirect, an Internet-based application processing, credit approval, and dealer information tool; and Instalease, a program that allows a dealer to submit applications by telephone, telecopy, or e-mail. It markets its services through a network of independent sales organizations and other dealer-based origination networks nationwide. The company was formed as a Massachusetts corporation in 1987 and is headquartered in Woburn, Massachusetts. |
