Aquaculture Loans and Loan Guarantees NB Canada

Aquaculture Loans and Loan Guarantees

NB, Canada
Financing for aquaculture activities in New Brunswick
grant_single_labels|summary
grant_single_labels|preview
grant_single_labels|projects
grant_single_labels|admissibility
grant_single_labels|register
grant_single_labels|otherInfo

grant_single_labels|summary

grant_single|eligibleFinancing
  • grant_single|projectCostPercent
grant_single|deadlines
  • grant_single|openingDateJuly 09, 2024
  • grant_single|grantStatusClosed
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
  • Agriculture, forestry, fishing and hunting
grant_single|grantors
  • Government of New Brunswick
  • Aquaculture and Fisheries (NB)
  • Department of Agriculture
grant_single|status
grant_card_status|open

grant_single_labels|preview

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.

grant_single_labels|projects

This grant is tailored for aquaculture businesses operating within certain geographic areas. Due to the region-specific nature of the funding, it targets enterprises within New Brunswick.
  • Companies located in New Brunswick, Canada.
grant_single|admissibleProjectsExample

$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

grant_single_labels|admissibility

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.

grant_eligibility_criteria|who_can_apply

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

grant_eligibility_criteria|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.

grant_eligibility_criteria|zone

The financing program covers up to 95% of expenses related to certain aquaculture-related purchases and repairs.
  • Purchase of a new or used vessel.
  • Purchase of an engine related to aquaculture activities.
  • Procurement of equipment necessary for aquaculture operations.
  • Major repairs to the hull of a vessel.
  • Major repairs to the engine of a vessel.

grant_single_labels|register

Here are the steps to submit an application for this loan or loan guarantee:
  • Step 1: Evaluate Eligibility
    • Ensure that your aquaculture project meets the program's requirements for funding related to vessel purchase, equipment, or major repairs.
  • Step 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.
  • Step 3: Contact the Program Administrator
    • Reach out to the New Brunswick aquaculture loan program administrator for specific guidance and application forms.
  • Step 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.
  • Step 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.
  • Step 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.

grant_single_labels|otherInfo

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.

Apply to this program