Soon they will have their hands on a Black Tempo or GT developed by Electrify NZ, the difference between the two being that the Tempo has a step-thru frame.
Both have hydraulic disc brakes, colour LCD display, lights, racks, mudguards, and Shimano Deore 10-speed derailleurs.
The 720-watt-hour battery lasts more than 100km and the bikes can reach speeds of more than 45km/h.
Wallace said they had more than 70 applicants but the family, living in Pāpāmoa East, were the "best suited" for the e-bike.
"A lot of them were older people with hip replacements, knee replacements and cancer diagnoses.
"They are just as meaningful but the reality is we weren't giving away a suitable bike for that – we're giving away a bike that will take over a car."
That was the hope of the family, who between them share one car while the parents manage two jobs, two businesses and homeschool their teenage boys.
In their application, the family said a lack of a second car was causing "a few headaches".
Wallace said not only would the e-bike help relieve some of that pressure but it would also have positive environmental impacts.
He said the process was "really rewarding" and something he would look to continue annually.
"It's very humbling – there are a lot of people in hard situations so it's good to look at things from a different view.
"It's clearly needed and there were some amazing stories for people looking for alternative transport from keeping up with maintenance costs, fuel costs or wanting to get some exercise."
Speaking in May, Wallace said he wanted to challenge other businesses to look at how they might be able to give back to the community.
He said around eight businesses had been in touch to ask about the initiative.
It was also an initiative that resonated with one customer so much they offered to donate $1000 towards the process next year.
About the bike
What: Black Bikes Tempo or GT developed by Electrify NZ Features: Hydraulic disc brakes, colour LCD display, lights, racks, mudguards, Shimano Deore 10-speed derailleur. Speed and battery life: 720-watt-hour battery lasts more than 100km. Reaches speeds of more than 45km/h. Maximum load: 120kg including baggage. Costs: $4299