Future Fisher Program
PE, Canada
Support for new entrants to the lobster fishery in Prince Edward Island
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateJuly 09, 2024
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
grant_single|grantors
- Department of Fisheries, Tourism, Sport and Culture (PEI)
- Government of Prince Edward Island
grant_single|status
grant_card_status|open
grant_single_labels|preview
Access training and financial assistance as a new entrant in the lobster fishery in Prince Edward Island or if you are working towards ownership of a lobster fleet.
grant_single_labels|terms_and_conditions
This grant offers comprehensive financing options designed to support new entrant lobster fishers in their early years. The modalities focus on reducing financial burdens through interest relief and training support.
- Interest relief of up to $4,000 per year for three years, with a maximum contribution of $12,000, is available for loans up to $200,000.
- The interest relief percentage is set at 2% per year for applicants with Grade 12 or equivalent completed, and 1% per year for those who have yet to complete Grade 12.
- Eligible applicants can receive up to $1,000 toward the costs of training initiatives, with the costs typically shared on a 50-50 basis between the department and the applicant.
- Applicants who achieve Grade 12 during the three-year period can request a change in their interest relief contribution percentage.
grant_single_labels|projects
The Future Fisher Program offers eligible activities to assist new entrants in the lobster fishery in Prince Edward Island. These activities focus on providing training, coaching, and financial solutions to support success in the fishery.
- Coaching facilitated by a program officer to support new entrants in the lobster fishery.
- Comprehensive training covering various aspects of the lobster fishery.
- Providing interest relief for loans associated with purchasing a fishing license.
grant_single|admissibleProjectsExample
$ 12,000
Development of a lobster fishery with ecological practices
$ 12,000
Acquisition of lobster fishing license and training
$ 12,000
Setting up a community lobster fishery program with training support
$ 12,000
Establishing a lobster fishery business with fleet training
$ 12,000
Launch of a sustainable lobster fishing operation with training
grant_single_labels|admissibility
To be eligible for the Future Fisher Program, applicants must meet specific criteria related to residency, licensing, and participation in financial activities.
- The applicant must be a resident of Prince Edward Island and be at least 18 years of age.
- The applicant must have purchased a Class A lobster license after January 1, 2009, and must not have held such a license in previous years.
- Only one applicant per fleet will be accepted into the program, specifically the license holder.
grant_eligibility_criteria|who_can_apply
Eligible applicants must be residents of Prince Edward Island, at least 18 years old, who have purchased a Class A lobster license after January 1, 2009, and have not previously held a Class A lobster license. Only one applicant per fleet is accepted, and this must be the license holder.
grant_eligibility_criteria|who_cannot_apply
Some types of companies may not be eligible for this grant. Eligibility criteria may exclude the following:
- Non-profit organizations
- Individual entrepreneurs
grant_eligibility_criteria|eligible_expenses
The Future Fisher Program offers eligible new entrants in the PEI lobster fishery the opportunity to enhance their skills and reduce financial burdens. The activities eligible for support under this program are focused on training, coaching, and financial relief associated with acquiring a fishing license.
- Coaching facilitated by a program officer to guide new entrants in the fishery.
- Training covering all aspects of the lobster fishery.
- Interest relief for loans used to acquire a fishing license, up to $12,000 over three years.
- Financial assistance of up to $1,000 towards training initiatives on a cost-shared basis.
grant_eligibility_criteria|zone
This grant is specific to new entrants in the lobster fishery in Prince Edward Island, ensuring support for the regional fishing community. The focus is on providing assistance to residents within this province.
- Residents of Prince Edward Island, Canada.
grant_single_labels|register
Here are the steps to apply for the Future Fisher Program:
- Step 1: Download and Complete Application Form
- Download the application form from the program's webpage.
- Gather all necessary information as outlined in the eligibility criteria.
- Step 2: Collect Required Documentation
- Secure a vendor registration form and a void cheque.
- Obtain a letter from your lending institution detailing loan information.
- Prepare documents verifying relevant training courses completed.
- If applicable, get a copy of your Grade 12 diploma or equivalent.
- Step 3: Complete Online Application Form
- Visit the program’s website and access the online application form.
- Fill out detailed contact information, license details, and financing information.
- Attach all required documentation to the online application.
- Step 4: Submit Application
- Review your filled application form for accuracy.
- Complete the CAPTCHA verification to confirm your submission.
- Submit the fully completed application form through the online portal.
- Step 5: Follow-Up
- Wait for contact from the program officer to discuss your application.
- Receive a letter and contractual agreement upon approval.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Applications are evaluated on a first-come, first-served basis within the constraints of the annual budget.
- If the grant funding exceeds the allocated budget for the year, applications may be deferred to the next fiscal year.
- Successful applications result in a contractual agreement obligating the recipient to certain terms.
- There are conditions on selling the fishing enterprise during the assistance period that may impact financial obligations to the program.
- Decisions made by the Minister regarding the program are final and binding.
grant_single_labels|contact
reagmacdonald@gov.pe.ca
(902)
Apply to this program
Navigating the Future Fisher Program for Aspiring Lobster Fishers
The Future Fisher Program offers vital support for new entrants in the Prince Edward Island (PEI) lobster fishery, providing both educational and financial assistance to help them achieve long-term success. Available to local residents who have acquired a Class A lobster license, this program ensures aspiring lobster fishers receive essential training and interest relief on loans.
In-Depth Understanding and Benefits of the Future Fisher Program
Designed to foster the skills and financial stability of new lobster fishers in Prince Edward Island, the Future Fisher Program is a comprehensive initiative that combines practical training with essential financial assistance. As a new entrant in the lobster fishing industry, participants face various challenges, including the high cost of acquiring a fishing license and the necessity of mastering the complexities of the trade. The program addresses these challenges head-on by offering three main components: personalized coaching, extensive training, and significant financial relief.
Participants in the program are paired with a dedicated program officer who provides one-on-one coaching to guide them through the initial stages of their fishing career. This mentorship focuses on the intricacies of the PEI lobster fishery, market dynamics, and operational best practices. Alongside coaching, participants engage in a comprehensive training regimen that covers all critical aspects of the industry — from safety protocols such as Domestic Vessel Safety (DVS) and Small Vessel Operator Proficiency (SVOP) to advanced skill certifications like Fishing Master IV.
Financially, the program alleviates some of the economic pressures by offering interest relief on loans. This relief can amount to up to $4,000 per year for three years, translating to a maximum contribution of $12,000. The conditions for receiving this relief are supportive yet firm — participants must actively engage in the program's coaching and training components to qualify, ensuring they build a strong foundation for their fishing career.
The Future Fisher Program also emphasizes strategic financial planning, encouraging participants to manage and plan their financial obligations effectively. Applicants can avail of this interest relief from loans arranged through recognized financial institutions, ensuring that their initial investment in a fishing license and related equipment is manageable.
Moreover, the program is tailored not only to reduce the financial barriers to entry but also to invest in the long-term professional development of the fishers. Up to $1,000 is available to cover costs associated with additional training initiatives, fostering a culture of continuous learning and skill enhancement. The dual focus on financial relief and education ensures that newly minted fishers in PEI not only start on solid ground but also have the tools to adapt to future challenges and opportunities within the industry.
This program solidifies the PEI government's commitment to sustaining and evolving its traditional fishing industry by lowering entry barriers for new fishers, promoting sustainable practices, and ensuring the economic viability of this vital sector. The program's inclusive and comprehensive approach also highlights the importance of community support systems, with participants having access to a network of peers and mentors who can offer advice, share experiences, and collaborate on common challenges and objectives.
Ultimately, the Future Fisher Program represents more than just financial aid; it embodies a strategic investment in the future of the PEI lobster fishery, striving to build a generation of skilled, knowledgeable, and economically stable lobster fishers. Through this initiative, Prince Edward Island not only strengthens its place in the lobster market but also reiterates its commitment to preserving and enhancing the livelihoods tied to this centuries-old tradition. As part of a broader initiative to stimulate economic growth and sustainability, the Future Fisher Program provides new fishers with a unique combination of education, experience, and financial support, ensuring they are well-prepared to thrive in their new endeavor.
