
Aquaculture Loans and Loan Guarantees
Last Update: July 22, 2025
NB, Canada
Financing for aquaculture activities in New Brunswick
At a glance
Eligible Funding
- Up to 95% of project cost
Timeline
- Open Date : July 9, 2024
Financing Type
Loans and Capital investments
Eligible Industries
- Agriculture, forestry, fishing and hunting
Funds Providers
Unspecified
Program status
Open
Overview
Get a loan or loan guarantee to cover up to 95% of the costs of purchasing a new or used vessel, an engine or equipment related to aquaculture, or to make major repairs to the hull or engine of a vessel.
Financing terms and conditions
This grant offers loans and loan guarantees specifically for enhancing aquaculture operations by financing significant equipment and repair costs.
- Loans or loan guarantees available to cover up to 95% of costs for purchasing a new or used vessel.
- Loan or loan guarantee support extends to engine or equipment purchases related to aquaculture operations.
- Financial assistance includes major repairs to the hull or engine of a vessel used in aquaculture.
Activities funded
This financial assistance is available for aquaculture operators looking to upgrade their operational capabilities and maintain competitiveness in New Brunswick. Eligible activities include purchasing and repairing essential equipment and vessels.
- Purchase of a new or used vessel for aquaculture operations.
- Acquisition of engines pertinent to aquaculture activities.
- Procurement of equipment related to aquaculture processes.
- Major repairs to the hull of a vessel used in aquaculture.
- Essential repairs to the engine of a vessel.
Examples of admissible projects:
$ 14,250
Major hull repairs on a seaweed cultivation vessel
$ 9,500
Conducting major repairs on the engine of a clam harvesting boat
$ 28,500
Refitting an aquaculture vessel with a new eco-friendly engine
$ 47,500
Purchase of a new aquaculture vessel for expanding salmon farming operations
$ 11,400
Purchase of advanced aquaculture monitoring equipment for a trout farming operation
$ 19,000
Acquisition of a second-hand engine for a mussel farming boat
Eligibility
Eligibility for aquaculture loans and loan guarantees in New Brunswick requires compliance with the following criteria:
- The applicant must be engaged in aquaculture activities.
- The financing must be used for the purchase of a new or used vessel, engine or equipment related to aquaculture, or for major repairs to the hull or engine of a vessel.
- The applicant must be able to cover at least 5% of the costs, as the loan or loan guarantee covers up to 95%.
- The applicant must comply with any additional requirements set by the New Brunswick government specific to aquaculture financing.
Who is eligible?
Yes, there are eligible types of companies for this grant. Specifically, the grant supports aquaculture activities within New Brunswick, providing financing for various operational needs related to vessels and aquaculture equipment.
- Aquaculture businesses
- Companies purchasing new or used vessels for aquaculture
- Companies needing new engines or equipment for aquaculture activities
- Businesses requiring major repairs to the hull or engine of their vessels
Eligible expenses
This grant is designed to facilitate the growth and development of the aquaculture industry in New Brunswick by providing financial support for essential equipment and repair needs. It focuses on supporting activities that enhance the operational capabilities of aquaculture enterprises.
- Purchase of new or used vessels for aquaculture activities.
- Acquisition of engines specifically intended for aquaculture use.
- Procurement of aquaculture-related equipment to improve operational efficiency.
- Major repairs to the hull of vessels used in aquaculture.
- Major repairs to the engine of aquaculture-related vessels.
Eligible geographic areas
This grant is available to companies located specifically in the province of New Brunswick. The funding is targeted to support aquaculture activities within this region.
- Companies operating in New Brunswick, Canada.
How to apply
1
Evaluate Eligibility
Ensure that your aquaculture project meets the program's requirements for funding related to vessel purchase, equipment, or major repairs.
2
Gather Required Documentation
- Prepare a detailed project plan indicating the purpose of the loan or guarantee.
- Ensure financial statements and quotations for purchases or repair costs are ready.
- Collect any business registration or licenses relevant to your aquaculture operations.
3
Contact the Program Administrator
Reach out to the New Brunswick aquaculture loan program administrator for specific guidance and application forms.
4
Complete the Application Form
- Fill out the application form thoroughly and accurately with all required information about your business and project.
- Attach all supporting documentation as required by the program guidelines.
5
Submit the Application
- Submit your completed application and all supporting documents as instructed by the program administrator (via mail, email, or online portal if applicable).
- Ensure submission is done before any deadlines set by the program.
6
Follow-up
- Confirm receipt of your application with the program administrator.
- Be available to provide additional information or clarification if requested during the review process.
Additional information
This grant supports aquaculture activities in New Brunswick by providing loans and loan guarantees.
- Covers up to 95% of costs for purchasing a new or used vessel, an engine, aquaculture-related equipment, or major repairs to the hull or engine of a vessel.
Frequently Asked Questions about the Aquaculture Loans and Loan Guarantees Program
Here are answers to the most common questions about the Aquaculture Loans and Loan Guarantees. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.
What is the Aquaculture Loans and Loan Guarantees?
How much funding can be received?
What expenses are eligible under Aquaculture Loans and Loan Guarantees?
What is the deadline to apply?
Is the Aquaculture Loans and Loan Guarantees a grant, loan, or tax credit?
Who are the financial supporters of the Aquaculture Loans and Loan Guarantees?
Who is eligible for the Aquaculture Loans and Loan Guarantees program?
Who can I contact for more information about the Aquaculture Loans and Loan Guarantees?
Where is the Aquaculture Loans and Loan Guarantees available?
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