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. Statements in this release that are not historical facts, including statements about future dividends or growth plans, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In addition, words such as "believes," "anticipates," "expects," "views,” “will” and similar expressions are intended to identify forward-looking statements. We caution that a number of important factors could cause our actual results to differ materially from those expressed in any forward-looking statements made by us or on our behalf. Readers should not place undue reliance on forward-looking statements, which reflect our views only as of the date hereof. We undertake no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. We cannot assure that we will be able to anticipate or respond timely to changes which could adversely affect our operating results. Results of operations in any past period should not be considered indicative of results to be expected in future periods. Fluctuations in operating results or other factors may result in fluctuations in the price of our common stock. For a more complete description of the prominent risks and uncertainties inherent in our business, see the risk factors described in documents that we file from time to time with the Securities and Exchange Commission.