Exhibit 99


For Release September 15                         Contact:
4:01 pm                                                   Richard F. Latour
                                                          President and CEO
                                                          Tel: 781-994-4800


                           MICROFINANCIAL INCORPORATED
                - Company Continues To Reduce Debt Obligation -
            - Corporate Headquarters Lease Extended For Two Years -

Woburn,  MA -- September 15, 2003 --  MicroFinancial  Incorporated (NYSE-MFI), a
leader in Microticket leasing and finance, announced today the company continues
to reduce its outstanding debt obligations and as of August 31, 2003 has reduced
the debt balance in excess of the amounts  required by the  Company's  long-term
bank agreement.

The Company's  principal payments on its securitization  notes and senior credit
facility  have   consistently  been  paid  down  according  to  their  repayment
schedules.  As of September 1, 2003,  the senior  credit  facility  debt balance
outstanding  was $73.5  million,  compared to an expected  $78.5 million for the
same period, as stated in the bank agreement.

The Company also successfully  negotiated an extension on the existing lease for
its corporate headquarters that will take effect January 1, 2004.

Richard  Latour,  President and Chief Executive  Officer stated,  "Once again we
continue to surpass our required repayments and other financial  expectations of
our bank agreement. This includes surpassing our lender's target debt balance by
approximately  $5.0  million  through  September  1, 2003 and reducing our total
interest  bearing  debt  year to date by over  $80  million.  In  addition,  our
debt-to-worth  ratio, as measured by total liabilities less subordinated debt to
total equity plus subordinated debt, stood at 1.5 to 1.0 at August 31, 2003."

About Microfinancial

MicroFinancial  Inc. (NYSE:  MFI),  headquartered in Woburn,  MA, 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.

Statements  in this release that are not  historical  facts 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,  " and similar  expressions  are intended to
identify  forward-looking  statements.  The  Company  cautions  that a number of
important  factors could cause actual  results to differ  materially  from those
expressed in any forward-looking statements made by or on behalf of the Company.
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.  The Company cannot assure that it will be
able to anticipate or respond timely to changes which could adversely affect its
operating  results in one or more fiscal quarters.  Results of operations in any
past period  should not be  considered  indicative  of results to be expected in
future periods.  Fluctuations in operating results may result in fluctuations in
the price of the Company's common stock. For a more complete  description of the
prominent risks and uncertainties  inherent in the Company's  business,  see the
risk factors described in documents the Company files from time to time with the
Securities and Exchange Commission.