-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Pr60gCOi0v0QFVugKDIMdMARYePEXyvTxRtvsz3w6KoXC5USaUwJuczFGn30DPaC ztkNmXaqsxfhiymOG9vyEA== 0000908662-06-000208.txt : 20061103 0000908662-06-000208.hdr.sgml : 20061103 20060418143737 ACCESSION NUMBER: 0000908662-06-000208 CONFORMED SUBMISSION TYPE: CORRESP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060418 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MICROFINANCIAL INC CENTRAL INDEX KEY: 0000827230 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS BUSINESS CREDIT INSTITUTION [6159] IRS NUMBER: 042962824 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 10 M COMMERCE WAY CITY: WOBURN STATE: MA ZIP: 01801 BUSINESS PHONE: 7819944800 MAIL ADDRESS: STREET 1: 10 M COMMERCE WAY CITY: WOBURN STATE: MA ZIP: 01801 FORMER COMPANY: FORMER CONFORMED NAME: BOYLE LEASING TECHNOLOGIES INC DATE OF NAME CHANGE: 19980605 CORRESP 1 filename1.htm

 

April 18, 2006

 

VIA EDGAR AND FACSIMILE

 

Ms. Angela Connell

Senior Accountant

United States Securities and Exchange Commission

Division of Corporation Finance

Washington D.C. 20549

 

Re:

MicroFinancial Incorporated

 

 

Form 10-K for Fiscal Year Ended December 31, 2004

 

Filed March 30, 2005

 

 

File No. 001-14771

 

 

Dear Ms. Connell:

 

Below please find a response to the comment you had outlined in your Comment Letter dated April 10, 2006.

 

Note C-Net Investment in Leases, page F-14

 

1.

The Company will take the necessary actions to improve the current systematic methodology to better comply with SAB Topic 6L in such a way as to more accurately enable us to determine the appropriate amount of allowance for credit losses in future periods. The revised methodology will include procedures that adjust the loss estimation methods in order to reduce the differences between estimated losses and actual subsequent charge-offs, as necessary.

 

If you have any questions or would like further information concerning the Company’s response to your comment letter, please do not hesitate to contact me at (781) 994-4800.

 

Sincerely,

 

 

/s/ James R. Jackson, Jr.

James R. Jackson, Jr.

Vice President and Chief Financial Officer

 

 

 

 

 

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