Exhibit 99 For Release April 1                          Contact:
4:01 pm                                                 Richard F. Latour
                                                        President and CEO
                                                        Tel: 781-994-4800

                           MICROFINANCIAL INCORPORATED
                      Company Awarded $23 Million Judgment



Woburn,  MA--April 1, 2004  MicroFinancial  Incorporated  (NYSE-MFI),  announced
today that the company was awarded a $23 million judgment.

In the first  quarter  of 2000,  the  Company  had filed an action in the United
States  District  Court  for the  District  of  Massachusetts  against  Sentinel
Insurance Company, Ltd.,  ("Sentinel"),  Premier Holidays  International,  Inc.,
("Premier") and Daniel DelPiano ("DelPiano") arising from Premier's October 1999
default on its  repayment  obligations  to the Company under a $12 million loan.
Judgment  has been  entered in this case  against  Sentinel,  which had issued a
business performance insurance policy guaranteeing  repayment of the loan in the
amount  of $14  million.  This  judgment  has not been  satisfied.  Sentinel  is
currently undergoing liquidation proceedings and a claim in this amount has been
filed with the bankruptcy court. The Company's case against Premier and DelPiano
was tried in November  2003,  and was  decided by the Court in March  2004.  The
Court entered a judgment for the Company against  Premier and DelPiano,  jointly
and severally, on all of the Company's counts,  including fraud and violation of
Massachusetts  General Laws,  Chapter 9A, and  dismissing  with prejudice all of
Premier and DelPiano's claims and  counterclaims.  The Court awarded the Company
$23 million in damages. Collection of this award is not assumed and therefore it
is not reflected in the Company's financial statements.

"This  legal  matter is now behind us. The  Company is pleased  with the court's
findings in favor of our position on all counts,  specifically on the finding of
fraud  committed  by  Premier  and  DelPiano,  and on the  full  dismissal  with
prejudice of the  counterclaims  filed against us." stated Mr.  Richard  Latour,
President and CEO.

The Company also  announced  today that it  continues to reduce its  outstanding
debt obligations during 2004 beyond original expectations. "As of April 1, 2004,
the senior credit facility debt balance outstanding was $35.7 million,  compared
to an  expected  $41.0  million  for the  same  period,  as  stated  in the bank
agreement.  Total  interest  bearing debt stands at $39.9 million as of April 1,
2004, compared to $62.1 million on December 31, 2003" concluded Mr. Latour.



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.