NJ Transit turns to Canada for loan

Looking to the Royal Canadian Bank instead of the ailing state Transportation Trust Fund for a $300 million loan to bridge the gap between paying for work covered by a federal grant and actually receiving the money.

Staff Writer・Editorial

Read Staff's Posts

April 28, 2015

NJ Transit turns to Canada for loan — NJ Transit. Photo: Aaron van Dorn/Flickr

1 min to read

NEWARK, N.J. — NJ Transit is turning to Canada instead of the ailing state Transportation Trust Fund, for a $300 million loan to bridge the gap between paying for work covered by a federal grant and actually receiving the money, NJ Advance Media reported.

RELATED:NJ Transit 9% fare hike proposal angers commuters

NJ Transit's board is expected to vote on the credit agreement with the Royal Canadian Bank at the May 13 meeting and the grant anticipation note that will secure it, according to the report.

Borrowing could cost the agency up to from $900,000 for a commitment fee, which reimburses the bank for the expense of reserving funds, if NJ Transit needs to draw on the loan money, NJ Advance Media reported. For the full story, click here.

Topics:budget issues Canada NJ TRANSIT Management

More Management

Cover photo for Transit Unplugged Episode 400

Management•by Staff•March 6, 2026

Transit Unplugged Celebrates 400 Episodes

The special episode features an exclusive interview with Mark Miller, president of Constellation Software Inc. and executive chairman of the Volaris Group, who reflects on the podcast's early vision and the importance of creating a platform where transit leaders can share ideas and learn from one another.

A recent generation New Flyer Electric Bus

Management•by Staff•March 4, 2026

NFI Group Officially Opens New Flyer All-Canadian Build Facility in Winnipeg

The CAD facility enables NFI to complete full domestic production of heavy-duty transit vehicles, including zero-emission buses, in Winnipeg for the first time in 15 years.

Management•by Staff•March 4, 2026

APTA: Surface Transportation Funding Delivers 5:1 Economic Return, Supports 41,400 Jobs per $1B

The findings provide clear evidence that sustained Federal investment in public transit and passenger rail delivers significant returns for workers, communities, taxpayers, and the U.S. economy, APTA officials said.

A photo of rail tracks in Ottawa, Canada

Security and Safety•by Staff and News Reports•March 4, 2026

Building a National Framework for Transit Safety and Consistency

On a recent episode of METROspectives, METRO Magazine’s Executive Editor Alex Roman sat down with Ana-Maria Tomlinson, Director of Strategic & Cross-Sector Programs at the CSA Group, to explore a bold initiative aimed at addressing those challenges: the development of a National Code for Transit and Passenger Rail Systems in Canada.

Management•by Staff•March 3, 2026

FTA Invests $100M to Strengthen Transit for 2026 World Cup

The funding will ensure communities can expand transit options to meet increased demand for services around stadiums.

Management•by Staff•March 3, 2026

ENC Names New VP of Transit Sales

John Obert previously served as regional sales manager for ENC since joining the company in June 2025.

Disabled and senior passengers on a transit vehicle.

Management•by Staff•March 3, 2026

New 2026 Plan Aims to Expand Transportation Access Across Virginia

Over the next four years during the Spanberger Administration, DRPT will use the plan to prioritize funding for human service transportation projects and programs that reduce barriers, expand access, and promote equitable mobility, said department officials.

A blue and white graphic with text reading "Via Launches Mayors Council to Accelerate Transit Innovation."

Management•by Staff•March 3, 2026

Via Launches Mayors Council to Accelerate Transit Innovation Nationwide

A new advisory group of current and former city leaders will collaborate on funding strategies, technology deployment, and best practices to modernize U.S. public transit systems.

Management•by Staff•March 2, 2026

Latinos In Transit Wraps Inaugural Navigate Mentorship Program,

The LIT Navigate Mentorship Program was launched as a structured, low-cost opportunity for active LIT members, focused on intentional growth, workforce development, mentorship, networking, and education.

Management•by Staff•February 27, 2026

WMATA Expands U-Pass Program

Approved as part of WMATA’s Strategic Transformation Plan, the expanded program introduces new pricing and participation options that make it easier for colleges and universities to join and for more students, such as part-time, community college, and graduate students, to benefit from accessible transportation.

View All →