Fishing Licence Loan Program

Who is eligible?

• Individuals or businesses residing in Nova Scotia.
• Applicants with a demonstrated need for financial assistance to purchase a fishing license.
• Those intending to enter or re-enter the fishing industry.
• Entities looking to diversify into new fishing species.
• Proof of business plan outlining sustainable fishing practices.
• Positive impact on local economic development and job creation.

Eligible expenses

This loan program supports activities related to acquiring essential resources to facilitate the entry or diversification within the fishing industry in Nova Scotia. It is aimed at helping businesses secure necessary licences and equipment for sustainable growth.

• Acquisition of fishing licences to gain industry access or expand operations.
• Purchase of fishing gear required for various fishing activities.
• Investment in equipment to diversify into fishing of new species.

Eligible geographic areas

This program provides loans for businesses in Nova Scotia to purchase fishing licences and gear. The eligible geographical area is specific to this region, focusing on enhancing local industry participation.

• Businesses located in Nova Scotia, Canada.

The evaluation and selection of projects for the Fishing Licence Loan Program grant are based on specific criteria to ensure alignment with the program’s objectives of supporting new or diversifying entrants into the fishery industry in Nova Scotia.

• Business Viability and Experience in the Fishing Industry.
• Potential Economic Impact, including job creation and contribution to the local economy.
• Ability to Comply with Environmental and Sustainability Standards.
• Clarity and Feasibility of the Business Plan, including timelines and proposed use of loan funds.
• Financial Stability and Projected Revenue Generation.

• Step 1: Verify Eligibility
  • Review the criteria for the Fishing Licence Loan Program to ensure eligibility.
  • Ensure your business is located in Nova Scotia and is entering or diversifying within the fishing industry.
• Step 2: Collect Necessary Documentation
  • Gather documentation related to your business’s financials.
  • Prepare a business plan outlining your goals and how the licence or gear purchase will aid in achieving them.
  • Compile any additional supporting documents, such as past financial statements or quotes for gear.
• Step 3: Fill Out Application
  • Obtain the application form for the Fishing Licence Loan Program.
  • Complete all sections of the application form carefully.
  • Ensure accuracy in figures and information provided.
• Step 4: Submit Application
  • Prepare your completed application form and all required documentation for submission.
  • Submit the application through the designated submission method (mail, email, or online portal if applicable).
  • Verify that submission is completed before the application deadline.
• Step 5: Await Confirmation
  • Wait for a confirmation of receipt from the loan program administrators.
  • Keep a copy of your submission and any confirmation for your records.

The loan program is designed to support businesses in the fishing industry in Nova Scotia by financing the purchase of a fishing licence and gear. This initiative aims to facilitate market entry or re-entry and promote diversification into new species.

• Maximum loan term: 20 years
• Available to businesses looking to enter or re-enter the fishing industry
• Also available for businesses aiming to diversify into new species