SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934



                           MicroFinancial Incorporated
                           ---------------------------
                                (Name of Issuer)


                                  Common Stock
                                  ------------
                         (Title of Class of Securities)


                                   595072 1 09
                                   -----------
                                 (CUSIP Number)


                                December 31, 2003
                                -----------------
             (Date of Event Which Requires Filing of this Statement)

Check the  appropriate box to designate the rule pursuant to which this Schedule
is filed:

             [_] Rule 13d-1(b)

             [_] Rule 13d-1(c)

             [X] Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for  any  subsequent   amendment   containing   information  which  would  alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 (the "Act") or otherwise  subject to the liabilities of that section of the
Act, but shall be subject to all other  provisions of the Act (however,  see the
Notes).







CUSIP No. 595072 1 09                   13G                    Page 2 of 5 Pages

1.  NAME OF  REPORTING  PERSONS/I.R.S.  IDENTIFICATION  NOS.  OF  ABOVE  PERSONS
(ENTITIES ONLY)


Richard F. Latour
- -----------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
                                                                 (a) [_] (b) [_]

Not Applicable.
- ---------------
3.   SEC USE ONLY

4.   CITIZENSHIP OR PLACE OF ORGANIZATION


United States of America.
- --------------------------
NUMBER OF         5.     SOLE VOTING POWER

SHARES                   759,550
                         -------

BENEFICIALLY      6.     SHARED VOTING POWER

OWNED BY                 None
                         ----

EACH              7.     SOLE DISPOSITIVE POWER

REPORTING                759,550
                         --------

PERSON            8.     SHARED DISPOSITIVE POWER

WITH                     None
                         ----

9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


759,550
- -------
10. CHECK IF THE AGGREGATE  AMOUNT IN ROW (9) EXCLUDES  CERTAIN  SHARES [-] (SEE
INSTRUCTIONS)


Not Applicable.
- ---------------
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)


Approximately 5.6% (1)
- ----------------------
12.  TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)


IN
- --
(1) Based on 13,176,416  shares of  MicroFinancial  Incorporated's  Common Stock
outstanding as of the report filed on Form 10-Q on November 14, 2003







CUSIP No. 595072 1 09                   13G                    Page 3 of 5 Pages

Item 1(a).  Name of Issuer:


                           MicroFinancial Incorporated
                           ---------------------------
Item 1(b).  Address of Issuer's Principal Executive Offices:


                       10-M Commerce Way, Woburn, MA 01801
                       -----------------------------------
Item 2(a).  Name of Person Filing:


                                Richard F. Latour
                                -----------------
Item 2(b).  Address of Principal Business Office, or if None, Residence:


                       10-M Commerce Way, Woburn, MA 01801
                       -----------------------------------
Item 2(c).  Citizenship:


                            United States of America
                            ------------------------
Item 2(d).  Title of Class of Securities:


                                  Common Stock
                                  ------------
Item 2(e).  CUSIP Number:


                                   595072 1 09
                                   -----------
Item 3.        If this  Statement  is filed  pursuant  to Rule  13d-1(b),  or
               13d-2(b) or (c), check whether the person filing is a:

       (a) [_] Broker or dealer registered under Section 15 of the Exchange Act.

       (b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act.

       (c) [_] Insurance  company as defined in Section 3(a)(19) of the Exchange
       Act.

       (d) [_] Investment  company  registered under Section 8 of the Investment
       Company Act.

       (e) [_] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);

       (f) [_] An employee  benefit plan or endowment  fund in  accordance  with
       Rule 13d-1(b)(1)(ii)(F).

       (g) [_] A parent  holding  company or control  person in accordance  with
       Rule 13d-1(b)(1)(ii)(G).

       (h) [_] A savings  association  as defined in Section 3(b) of the Federal
       Deposit Insurance Act.

       (i) [_] A  church  plan  that  is  excluded  from  the  definition  of an
       investment company under Section 3(c)(14) of the Investment Company Act.

       (j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

       Not Applicable.







CUSIP No. 595072 1 09                   13G                    Page 4 of 5 Pages

Item 4.    Ownership.

       (a) Amount beneficially owned: 759,550

       Of such 759,550 shares of Common Stock the reporting person is the direct
       beneficial  owner of (i) 265,550 shares of Common Stock; and (ii) 494,000
       shares of Common Stock  issuable upon the exercise of options which shall
       have vested by February 29, 2004.

       (b) Percent of class: Approximately 5.6% (2)

       (c) Number of shares as to which such person has:

       (i) Sole power to vote or to direct the vote: 759,550

       (ii) Shared power to vote or to direct the vote: None

       (iii) Sole power to dispose or to direct the disposition of: 759,550

       (iv) Shared power to dispose or to direct the disposition of: None

Item 5.  Ownership of Five Percent or Less of a Class.


Not Applicable.
- ---------------
Item 6.  Ownership of More Than Five Percent on Behalf of Another Person.


Not Applicable.
- ---------------
Item 7.  Identification  and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.


Not Applicable.
- ---------------
Item 8.  Identification and Classification of Members of the Group.


Not Applicable.
- ---------------
Item 9.  Notice of Dissolution of Group.


Not Applicable.
- ---------------
Item 10.  Certifications.


Not Applicable.
- ---------------
(2) Based on 13,176,416  shares of  MicroFinancial  Incorporated's  Common Stock
outstanding as of the report filed on Form 10-Q on November 14, 2003







CUSIP No. 595072 1 09                   13G                    Page 5 of 5 Pages

                                    SIGNATURE

After  reasonable  inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.


                                 March 17, 2004
                          ----------------------------
                                     (Date)


                              /s/ Richard F. Latour
                          -----------------------------
                                   (Signature)


                                Richard F. Latour
                                -----------------
                                  (Name/Title)

Attention.  Intentional  misstatements  or omissions of fact constitute  federal
criminal violations (see 18 U.S.C. 1001).