A New Lease On Line: Leasecomm, Mainstream EIS, Collaborate to Jump Start On-Line Leasing.Business/Technology Editors WALTHAM, Mass.--(BUSINESS WIRE)--Nov. 28, 2000 Leasecomm, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of MicroFinancial, Inc., a leader in microticket equipment leasing Equipment Leasing is a financing option to lease equipment for a certain amount of time. Leasing Benefits
"Leasecomm is committed to the continued development of e-business solutions that improves the speed, ease of use and overall productivity of our leasing services" said Elaine Shuttleworth, Director of Internet Development. "Prior to the new release, nearly two-thirds of our 20,000 monthly applications were fully processed automatically on-line, so we have already had significant experience and success in the on-line world" said Peter Bleyleben, President. "LeasecommDirect 3.0 will continue to strengthen our technology leadership position in the leasing arena by providing increased efficiency and functionality for our customers" Mr. Bleyleben added. LeasecommDirect 3.0 was developed with the collaboration of Mainstream EIS (1) (Executive Information System) An information system that consolidates and summarizes ongoing transactions within the organization. It provides top management with all the information it requires at all times from internal and external sources. of Merrimack, NH, who specializes in the design, development and deployment of database-web integration technologies. "Our real-time, interactive technology, integrated into the LeasecommDirect site, makes it possible for today's businesses to apply, receive credit decisions and complete lease agreements online. The overall result is greater responsiveness and reduced waiting, which is essential for small businesses that hope to thrive in today's fast-paced information economy," said Craig Peterson, Chairman and Founder of Mainstream EIS. Leasecomm Corporation, a wholly owned subsidiary of MicroFinancial Incorporated is a leading funding source in the industry of microticket financing. MicroFinancial Inc., (NYSE NYSE See: New York Stock Exchange : MFI MFI Microfinance Institution MFI Money Flow Index MFI Melt Flow Index MFI Median Family Income MFI Malaria Foundation International MFI Massachusetts Family Institute MFI Multi-port Fuel Injection (automobile) ), headquartered in Waltham, MA, and with additional locations in Woburn, MA, and Newark, CA, is a financial intermediary Financial Intermediary An institution that acts as the middleman between investors and firms raising funds. Often referred to as financial institutions. Notes: This can include chartered banks, insurance companies, investment dealers, mutual funds, and pension funds. specializing in financing for products in the $500 to $10,000 range. The company has been in operation since 1986 and has been profitable since the second quarter of 1987. Through its operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , Leasecomm, the company has provided funding for 100s of thousands, mostly commercial, accounts nationwide. Mainstream EIS of Merrimack, NH founded in 1993 is a privately held information technology company. Statements in this release that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 risks factors described in documents the Company files from time to time with the Securities and Exchange Commission. |
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