Aquaculture Loans and Loan Guarantees

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.

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.

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.