Fisheries Loan and Loan Guarantees

Who is eligible?

This grant program is designed for those involved in the fisheries sector who require additional financial support to supplement private lender financing. The program includes specific allowances for new entrants in terms of interest rates and equity requirements.

• Individuals or businesses purchasing a new or used vessel.
• Applicants seeking to buy an engine or equipment related to fisheries.
• Projects involving major repairs to a vessel's hull or engine.
• Entities looking to acquire a commercial fishing license or quota.
• New entrants who have owned a farm for five years or less eligible for lower equity requirements and interest rates.
• Businesses that can provide acceptable security for the loan or guarantee and demonstrate the required equity contribution.

Who is not eligible

This grant does not clearly state specific exclusions for certain types of companies or industries. The focus is mainly on the positive eligibility criteria.

Eligible expenses

This grant provides opportunities for individuals and businesses within the fisheries sector to expand and enhance their operations. The eligible activities are specifically targeted towards acquiring essential resources and making pivotal improvements to fishing capabilities.

• Purchase a new or used vessel.
• Purchase an engine or equipment related to fisheries.
• Make major repairs to the hull or engine of a vessel.
• Purchase a commercial fishing license or obtain a quota.

Eligible geographic areas

This grant is managed by the Government of New Brunswick, indicating that it may be region-specific. However, without explicit information on eligible geographical areas, we cannot determine the exact locations.