Exhibit 99
For Release January 8, 2001 Contact:
Richard F. Latour
EVP, COO and CFO
781.890.0177
Fax: 781.890.1368
E-mail: [email protected]
MicroFinancial Inc. Announces the Closing of the Purchase Agreement with
Resource Leasing Corporation
WALTHAM, Mass.--(BUSINESS WIRE)--January 8, 2001--MicroFinancial (NYSE:MFI -
news) today announced that its wholly owned subsidiary, Leasecomm Corporation,
has closed on the previously announced agreement to acquire a major portion of
the assets of Resource Leasing Corporation, Herndon, Virginia. As part of the
transaction, Leasecomm acquired a major portfolio of rental and lease contracts,
the use of the name Resource Leasing, and most of its current employees,
including founder and President Chip Nichols.
MicroFinancial Inc., (NYSE: MFI), headquartered in Waltham, MA, and
with additional locations in Woburn, MA, and Newark, CA, is a financial
intermediary specializing in leasing and financing for products in the $500 to
$10,000 range. The company has been in operation since 1986 and has been
profitable each year since 1987. Please visit our Web-Site at
http://www.microfinancial.com
Founded in 1985, Resource Leasing Corporation is a leading provider of equipment
financing products and related services in the point-of-sale industry.
This release contains forward-looking statements. These statements are subject
to certain risks and uncertainties that could cause actual results to differ
materially from those anticipated in the forward-looking statements. Readers
should not place undue reliance on forward-looking statements, which reflect the
management's view only as of the date hereof. The Company undertakes no
obligation to publicly revise these forward-looking statements to reflect
subsequent events or circumstances. Readers should also carefully review the
risk factors described in documents the Company files from time to time with the
Securities and Exchange Commission.
