How much funding can be received?

Funds up to 95% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Aquaculture Loans and Loan Guarantees?

Aquaculture Loans and Loan Guarantees is funded by Department of Agriculture, Government of New Brunswick, Aquaculture and Fisheries (NB)

What are Aquaculture Loans and Loan Guarantees's eligibility criterias?

The applicant must be engaged in aquaculture activities within New Brunswick. The financing must be used for the purchase of a vessel, engine, or equipment, or for major repairs.

Aquaculture Loans and Loan Guarantees

Last Update: July 22, 2025

NB, Canada

Financing for aquaculture activities in New Brunswick

Aquaculture Loans and Loan Guarantees 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

Grant Providers

Department of Agriculture
Government of New Brunswick
Aquaculture and Fisheries (NB)

Program status

Open

Overview of the Aquaculture Loans and Loan Guarantees program

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.

Eligible projects & activities

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 criteria of the Aquaculture Loans and Loan Guarantees program

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 to the Aquaculture Loans and Loan Guarantees program

Evaluate Eligibility

Ensure that your aquaculture project meets the program's requirements for funding related to vessel purchase, equipment, or major repairs.

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.

Contact the Program Administrator

Reach out to the New Brunswick aquaculture loan program administrator for specific guidance and application forms.

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.

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.

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.

Apply to this program

Agri-innovation funding in New Brunswick