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401 Grand St. Paterson, NJ 07505 | 973-881-4000
"Rich History, Bright Future"

Passaic County Banc Program

Nicole S. Fox
Executive Director
 
Passaic County
Improvement Authority

930 Riverview Drive, Suite 250
Totowa, NJ 07512

Phone: 973-881-4550
Fax: 973-278-5635
Email
Passaic County Banc Program

The Passaic County Improvement Authority, along with the County of Passaic, is pleased to offer the County Guaranteed Leasing Program to municipalities, school districts, and other governmental entities. Under the program, the County will guaranty up to $15 Million of leased capital assets which will be made available to qualifying participants of the program. This program allows government entities to finance capital equipment and other capital items at any time at competitive tax-exempt interest rates. Individual leases will be placed with US Bancorp Government Leasing and Finance, Inc.

Eligible projects can be financed quickly with below market, tax-exempt, interest rates. Benefits include: 

  • No Down Payment Required 
  • Below Market Tax Exempt Interest Rates 
  • Quick Turnaround 
  • Minimal Paperwork 
  • Payments may be considered outside the 
  • Budget Cap 
  • Flexible Payment Schedules
  • 15 Year Term Available for Energy Efficiency Equipment
What can be financed? 
  • Energy Efficiency Equipment
  • Office Equipment - Fax machines, computers, phone systems, printers, scanners or office furniture. 
  • Vehicles - Vans, ambulances, snowplows, refuse trucks, fire trucks, sweepers, backhoes, sports utility vehicles, tractors or school buses. 
  • Machinery - Pipe threaders, lawn mowers, heating systems, security alarms, core drill machines, X-ray machines or ventilation systems. 
  • Health & Safety - Beds, cameras, communications, radios, wheelchair vans, sprinklers or fire equipment. 
  • Education - Buses, mobile classrooms, IT equipment, laptops, Ipads, and smartboards. 
  • Other Equipment - Parking Meters, water meter readers, traffic lights, any essential use asset.
Click Here for the Passaic County BANC Application