Official Site of The State of New Jersey
Modernized Tax-Exempt Leasing Program
NJEFA’s Tax-Exempt Leasing Program (TELP) offers institutions access to tax-exempt financing to acquire new equipment or replace aging equipment that is essential to operations and academic missions
Leasing Equipment is Cost Effective
Program Overview:
Quicker access to capital compared to traditional bond financings
Appropriate for a wide spectrum of institutional and academic purposes
Simplified issuance process and documentation requirements
Single source for multiple equipment leases
Low-cost
Eligible New Jersey Borrowers:
Two-and four-year New Jersey institutions are eligible to participate as further defined in NJEFA’s Statute
Fees:
Initial Fees: 20 basis points per series of par amount of bonds issued; capped at $125,000
Annual Fees: 7 basis points per series of declining par amount of bonds outstanding
Sample TELP Projects:
Trucks, Buses, Fleet Vehicles
Telecommunications Equipment
Computers & Software
Safety Equipment
Energy Equipment, Boilers, Chillers, HVAC
IT and Security / Equipment
Laboratory and Research Equipment
Medical Equipment
