Aquaculture Loans and Loan Guarantees
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.
At a glance
Funding available
- Optimize production processes
- Renovate or expand facilities
- Up to 95% of project cost
Eligible candidates
- All industries
- New Brunswick
- For-profit business
- Sole proprietorship
- $ 50,000,000 maximum revenue
- All organization sizes
- All groups
Next Steps
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.
Official resources
Eligibility
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
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.
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.