Welcome to the NJ ZEV Financing Portal!
To be eligible for this pilot program, you must be a commercial or industrial organization registered in New Jersey and plan to buy a new zero-emission, medium-or-heavy-duty vehicle from an approved NJ EDA Vendor, which will operate 75% or more of its vehicle miles within New Jersey.
Please create a loan application for your qualifying zero-emission medium-duty vehicle(s) purchase by clicking the "Create" button below. If you have already created an application below, you can access it to complete the application process or view status.
Notes:
You may apply for multiple vehicles within a single application, however, only one vendor may be selected per application. Multiple applications will each have to pay an application fee, so it is recommended to bundle all vehicles if possible.
For the first year following application launch, $15M of the total $25M program funding will be set aside for Overburdened Community Applicants.
Description of Program:
The NJ ZEV Financing Program is a loan program to provide financing for commercial vehicle operators to adopt zero emission vehicles instead of typical combustion vehicles. This program complements the NJ ZIP program, a voucher program to support the adoption of medium and heavy duty zero emission vehicles, by offering financing for vehicle costs that may not be met by vouchers or other grants. Please note, however, purchaser participation in NJ ZIP is not required to obtain NJ ZEV Financing.
The NJ ZEV Financing program offers fixed, low-interest rate loans—recognizing the cost premium often inherent in adopting zero emission vehicles instead of utilizing standard combustion engine options. Loans range from $50,000 to $500,000 for up to a maximum of 100% of eligible vehicle costs. The program is funded with an initial total of $25,000,000 Regional Greenhouse Gas Initiative (RGGI) proceeds allocated to NJEDA.
Applications will be accepted on a rolling, first-come first-served basis
Eligibility Information/Instructions for Vendors:
Eligible vehicles can only be purchased from vendors approved by the Authority to participate in Phase three and future iterations of the NJ ZIP program. To learn about Vendor eligibility and to submit an application to be a vendor, please visit
njeda.gov/njzip
If you have any questions about these requirements, please contact the NJ ZEV Financing Program team at:
NJZEVfinancing@njeda.gov
Language Assistance:
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