<PAGE>

                                                                    EXHIBIT 10.1

                                                             MICRO FINANCIAL INC
                                                               & LEASECOMM CORP.

                                                                  06050399-DMK-D

                            CUMMINGS PROPERTIES, LLC
                                  STANDARD FORM

                               LEASE EXTENSION # 2

      In connection with a lease currently in effect between the parties at 10-M
Commerce Way, Woburn, Massachusetts, fully executed on November 3, 1998 and
terminating December 30, 2005, and in consideration of the mutual benefits to be
derived herefrom, Cummings Properties, LLC, LESSOR, and MicroFinancial
Incorporated and Leasecomm Corporation, LESSEE, hereby agree, effective January
1, 2006, to amend said lease as follows:

      1.    The lease is hereby extended for an additional term of five(5) years
            ending at noon on December 30, 2010.

      2.    Base rent is hereby changed to two hundred thirty seven thousand
            three hundred eighty four (237,384) dollars per year or $ 19,782 per
            month.

      3.    The base month from which to determine the amount of each annual
            increase in the "Cost of Living" shall be * [This is struck out
            text] 2006, which figure shall be compared with the figure for
            * [This is struck out text] November 2006, and each November
            thereafter to determine the percentage increase (if any) in the base
            rent to be paid during the following calendar year. *January

      4.    * [This is struck out text] the security deposit shall be **  [This
            is struck out text] by $ 19,782 from $ 60,000 to a new total of $
            40,218.  [This is struck out text] LESSOR shall apply said decrease
            toward rent due for the month of April 2006.

            *Effective April 1, 2006   **decreased

      5.    The lease, including all terms, conditions, escalations, etc. shall
            be automatically extended for additional successive periods of five
            (5) year(s) each unless LESSOR or LESSEE shall serve written notice,
            either party to the other, of either party's desire not to so extend
            the lease. The time for serving such written notice shall be not
            more than 12 months or less than six months prior to the expiration
            of the then current lease period. Time is of the essence.

      6.    Notwithstanding anything to the contrary in Section 20 of the lease
            or Section 6 of the Lease Extension dated September 16, 2003, the
            entire balance of rent due under the lease shall become due and
            payable as liquidated damages only if LESSEE defaults in the payment
            of rent due under the lease, and not in the event of nonpayment of
            any security deposit, taxes, invoice or other charge which may also
            be due under the lease. Section 20 and said Section 6 shall
            otherwise continue to apply, and in the event of such a default, the
            entire rent amount shall be discounted to its net present value as
            of the date of LESSOR'S notice of default, using the published prime
            rate then in effect.

      7.    To the extent any inconsistency exists between this lease extension
            and the lease, including any prior amendments, the conditions
            contained herein shall control and supersede any earlier provisions.
            Neither the submission of this lease extension, nor the prospective
            acceptance of any increase in the security deposit, shall constitute
            a reservation of or option for the leased premises, it being
            expressly understood and agreed that this lease extension shall not
            bind either party in any manner whatsoever until it has been
            executed by both parties.

      8.    The size of the leased premises is hereby decreased to a new total
            of approximately 24,473 square feet of ground level space, with no
            mezzanine, with the relinquishment of the hatched area shown on the
            mutually agreed upon plan attached hereto (the "Relinquished Area").

      9.    LESSOR, at a total charge to LESSEE of $124,553 * to be paid upon
            LESSEE's execution of this lease extension, shall, during LESSOR's
            normal business hours, modify the leased premises in accordance with
            the attached plan, including the construction of a full-height
            demising wall separating the leased premises from the Relinquished
            Area and the separation of the utilities serving the leased premises
            from those serving the Relinquished Area, LESSOR shall use
            reasonable efforts to substantially complete such modifications,
            except for punch list items, before or about December 1, 2005,
            however, in the event that LESSEE in any way delays LESSOR's
            substantial completion (which shall include without limitation any
            additions and/or changes requested by LESSEE to the scope of
            LESSOR's work, any delay in LESSEE providing information to LESSOR
            for any permits or plans, and any interference by LESSEE or LESSEE's
            contractor with LESSOR's work), the time for substantial completion
            shall be extended by the length of such delay.

      10.   LESSEE shall move its furniture, furnishings, equipment, inventory
            and other property as requested by LESSOR to enable LESSOR to carry
            out the above-described modifications to the leased premises.

      11.   * LESSOR agrees that all work to be performed by LESSOR as set forth
            in the attached plan shall be completed in a good and workerlike
            manner.

            * 50 % on September 1, 2005, 50% on October 1, 2005 [ILLEGIBLE]
            ENA.

                                                               [ILLEGIBLE]LESSEE
                                                               [ILLEGIBLE]LESSEE
                                                               ENA        LESSOR

<PAGE>


                                 LEASE EXTENSION
                                   (CONTINUED)

      12.   LESSEE shall vacate the Relinquished Area on or before the effective
            date hereof, and any extended occupancy of said facility beyond the
            effective date shall be governed by Section 27 of the lease, unless
            such extended occupancy is due to a delay in substantial completion
            of LESSOR's work that is not caused by LESSEE. LESSEE shall, upon
            vacating, be responsible for any damage to said area in accordance
            with the lease, and shall promptly pay any just invoice therefor.
            Time is of the essence.

      13.   The parties acknowledge and agree that, as of the execution of this
            lease extension, not all of the perimeter walls of the reduced
            leased premises have been built. Accordingly, upon completion of the
            modifications provided for herein, LESSOR shall carefully measure
            the reduced leased premises, and if the size, including common area,
            does not equal the number of square feet set forth above, LESSOR
            shall notify LESSEE in writing of the actual square footage and the
            corresponding increase or decrease in rent, based on the same rate
            per square foot used in this lease extension, and said actual square
            footage and adjusted rent shall be substituted for the corresponding
            figures herein as of the effective date of this lease extension.

      14.   * As a result of the decrease in the size of the leased premises
            provided for above, LESSEE's proportionate share of any increase in
            real estate taxes set forth in Section 4 of the lease is hereby
            changed to 19.83 percent. In the event of any future changes in the
            size of the leased premises, there shall be a further corresponding
            adjustment of LESSEE's proportionate share of any increase in real
            estate taxes.

      15.   * During the extended lease term as described above, the base from
            which to determine the amount of any increase in real estate taxes
            pursuant to Section 4 of the lease is hereby changed to the rate and
            the assessment in effect as of July 1, 2005.

      16.   In consideration of this lease extension, Paragraph S of the Rider
            to Lease is hereby deleted and of no further force or effect.

      17.   As a result of the decrease in size of the leased premises provided
            for above, Paragraph L of the Rider to Lease is hereby amended to
            reduce the total number of unassigned parking spaces provided for
            LESSEE's use to a new total of 100 spaces. All other terms of said
            Paragraph L shall continue to apply.


      18.   Notwithstanding anything to the contrary in Section 14 of the lease,
            LESSEE, and not LESSOR, shall be responsible for the control of snow
            and ice on all walkways, steps and loading areas serving the leased
            premises and all other areas not readily accessible to plows.

      19.   *Prior to the lease termination or any relocation by LESSEE to
            another facility of LESSOR, LESSEE may remove telecommunications
            equipment supplied and installed by LESSEE, provided LESSEE is not
            in arrears of any rent or invoice payments or otherwise in default
            of the lease, and has satisfactorily complied with all other terms
            and conditions of the lease. LESSEE shall repair any damage
            resulting from such removal, restore the leased premises to their
            condition prior to the installation of said equipment, and in
            accordance with all applicable building and electrical codes and at
            LESSOR's option, either remove or label all wiring and cabling
            associated with any telecommunications and computer network
            equipment. LESSEE must complete all such removal, labeling, repair,
            restoration and/or other work prior to the termination or relocation
            date. Time is of the essence.

      All other terms, conditions and covenants of the lease shall continue to
apply. In Witness Whereof, LESSOR and LESSEE have hereunto set their hands and
common seals this 15th day of July, 2005.

LESSOR: CUMMINGS PROPERTIES, LLC         LESSEE: MICROFINANCIAL INCORPORATED

By: [ILLEGIBLE]                          By: /s/ Richard F. Latour
    -----------------------------            -----------------------------------
    7/18/05      Duly Authorized                                Duly Authorized

                                         Print Name: Richard F. Latour
                                         Title: President & CEO

                                         LESSEE: LEASECOMM CORPORATION

                                         By: Richard F. Latour
                                             -----------------------------------
                                                                Duly Authorized

                                         Print Name: Richard F. Latour
                                         Title: President & CEO