MicroFinancial Incorporated Announces the Release of a New iPhone App

MicroFinancial Incorporated (NASDAQ: MFI), a financial intermediary specializing in vendor-based leasing and finance programs for microticket transactions, announced today the release of a new iPhone App. This application will provide mobile access to TimePayment Direct, the proprietary multi-level scoring model of our wholly owned subsidiary, TimePayment Corporation (TPC), and will be available for free to all qualified vendors and brokers of TPC through the iTunes library. With the introduction of the iPhone App, TPC’s vendors and brokers will now have three different ways in which to access TimePayment Direct to process credit applications (iPhone, iPad and computer).

This new application means that TimePayment Direct will be with vendors and brokers where ever they are, giving them the ability to enter applications, receive credit decisions and track the status of all of their transactions with TPC 24 hours a day and 7 days per week.

Richard Latour, President and Chief Executive Officer said, "We are very pleased to announce the release of our new iPhone App. This will give our vendors and brokers across the country more flexibility in working with TPC, especially those vendors and brokers who process during the weekend or away from their office.”

For more information about the iPhone Application features or becoming a qualified vendor or broker with TPC, please contact our Director of Marketing or visit our website @ www.timepayment.com.

About the Company

MicroFinancial Inc. (NASDAQ: MFI), is a financial intermediary specializing in microticket leasing and financing. MicroFinancial has been operating since 1986, and is headquartered in Burlington, Massachusetts.

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