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  5. ›Lease Purchase Financing Buses

Kingsway Regional School District·New Jersey

Lease Purchase Financing Buses

Closes 3/31/2026$200k – $2MInvitation for Bid
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Description

Kingsway Regional Board of Education (KRBED) is seeking a qualified financial institution or financing company to provide a lease‑purchase financing solution for its school bus fleet. The solicitation is a legal notice requesting sealed bids that include all required affidavits, questionnaires, and, for corporate bidders, a list of stockholders owning 10 % or more. Bids must be submitted in a sealed envelope to the Business Office by the deadline. The Board retains the right to reject any or all bids and may accept alternates at its discretion. • Scope limited to financing proposals – no actual bus procurement specifications are included. • Mandatory compliance with New Jersey statutes (N.J.S.A. 18A:18A‑21, N.J.S.A 10:5‑31, N.J.A.C. 17:27) and submission of non‑collusion affidavit and contractor questionnaire. • Corporate bidders must disclose any stockholder owning ≥10 % of the corporation. • Deadline for sealed bid receipt: March 31 2026, 11:00 A.M., delivered to the Business Office in Woolwich Township, NJ.

Attached files

Contact

Sharon Ormsbee(Board Secretary / Business Administrator)

Key dates

Opened
4/23/2026
Closes
3/31/2026

Last updated

Details

Type
Invitation for Bid
Industry
Financial Services
NAICS
522310

Budget estimate

$200,000 – $2,000,000

The notice does not disclose the total value of the financing program. Typical school‑bus lease‑purchase programs for a mid‑size district can range from $5 million to $25 million in total financed capital, with the financing provider earning an upfront origination fee (often 1‑3 % of the financed amount) plus ongoing interest spread. Assuming a 2 % origination fee on a $10 million program, the provider could earn roughly $200 k upfront, and interest earnings over the life of the lease could add several hundred thousand dollars more. Consequently, a reasonable estimate for the provider’s earnings from this single solicitation would be in the low‑hundreds‑of‑thousands to low‑millions range.

AI estimate from the solicitation

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