Open
Future Fisher Program
Supports new Prince Edward Island lobster fishers with training and financing
Last Update: March 4, 2026
Funding available
$ 12,000
Timeline
- Open Date : July 9, 2024
Location
Prince Edward Island, Canada
Overview
The Future Fisher Program supports new entrant lobster fishers in Prince Edward Island with coaching, training and interest relief on fishery loans, providing up to $12,000 in interest relief over three years plus up to $1,000 for training costs. Funding helps reduce interest on loans used to purchase fishing-related assets, including the acquisition of a Class A lobster licence, while supporting participation in approved training initiatives.
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Opportunity Score
Moderate potential, but conditions must align.
At a glance
Funding available
Financing goals
- Develop workforce skills
Eligible Funding
- Maximum amount : 12,000 $
- Up to 2% of project cost
Timeline
- Open Date : July 9, 2024
Eligible candidates
Eligible Industries
- Agriculture, forestry, fishing and hunting
Location
- Prince Edward Island
Legal structures
- Sole proprietorship
Annual revenue
- All revenue ranges
Organisation size
- All organization sizes
Audience
- Rural or Northern Residents
Next Steps
1
Determine your project
2
Validate your eligibility
Activities funded
- Participation in individualized coaching to improve the management and long‑term success of a new lobster fishing enterprise.
- Completion of structured training covering operational, safety and business aspects of the lobster fishery.
- Implementation of a financing plan for the acquisition of a lobster fishing licence, supported by interest relief on eligible loans.
- Undertaking approved training initiatives to upgrade skills and qualifications related to commercial lobster fishing.
Eligibility
Who is eligible?
- New entrant lobster fishers in Prince Edward Island
Who is not eligible
- Any applicant who is not a resident of Prince Edward Island.
- Individuals under 18 years of age.
- Fishers who purchased a Class A lobster license on or before January 1, 2009.
- Fishers who have previously held a Class A lobster license before their recent purchase.
- Any person who is not the Class A lobster license holder for the fleet (only one applicant per fleet, and it must be the license holder).
Eligible expenses
- Interest costs on loans from a recognized financial institution (chartered bank, Credit Union, or PEI Lending Agency) used to acquire lobster fishing–related assets, including the purchase of a lobster fishing licence.
- Training expenses for approved training initiatives related to the lobster fishery, up to $1,000 per applicant, normally on a 50-50 cost-sharing basis with the department.
Eligible geographic areas
- Applicants who are residents of Prince Edward Island (PEI), Canada.
Additional information
- Applications are accepted on a continuous intake and are reviewed on a first-come, first-served basis, with the possibility of deferral to the following fiscal year if the budget is exceeded.
- A CAPTCHA verification is required when submitting the online form, and applicants can review and print their information before final submission.
- If the fishing enterprise is sold during the three-year approval period, repayment of all or part of the interest relief may be required.
- Where disagreements arise during the life of the project, the Minister’s decision is described as final.
Contacts
Frequently Asked Questions about the Future Fisher Program Program
Here are answers to the most common questions about the Future Fisher Program. This section explains what the program is, how much funding is available, eligibility requirements, application deadlines, and other important details to help you determine if this grant is right for your business.
What is the Future Fisher Program?
The Future Fisher Program supports new entrant lobster fishers in Prince Edward Island with coaching, training and interest relief on fishery loans, providing up to $12,000 in interest relief over three years plus up to $1,000 for training costs. Funding helps reduce interest on loans used to purchase fishing-related assets, including the acquisition of a Class A lobster licence, while supporting participation in approved training initiatives.
How much funding can be received?
Future Fisher Program Funds up to 2% of admissible expenses, capped at $12,000 per project.
Who is eligible for the Future Fisher Program program?
To be eligible for the Future Fisher Program program, you must:
Applicant must be a new entrant lobster fisher holding a PEI Class A lobster licence purchased after January 1, 2009.
Applicant must be the licence holder and the only applicant accepted per fleet under the program.
Applicant must have borrowed from a recognized financial institution to purchase fishing-related assets (e.g., lobster licence).
What expenses are eligible under Future Fisher Program?
Participation in individualized coaching to improve the management and long‑term success of a new lobster fishing enterprise.
Completion of structured training covering operational, safety and business aspects of the lobster fishery.
Implementation of a financing plan for the acquisition of a lobster fishing licence, supported by interest relief on eligible loans.
Undertaking approved training initiatives to upgrade skills and qualifications related to commercial lobster fishing.
Who can I contact for more information about the Future Fisher Program?
You can contact Government of Prince Edward Island (PEI) by email at reagmacdonald@gov.pe.ca.
Where is the Future Fisher Program available?
The Future Fisher Program program is available the province of Prince Edward Island.
Is the Future Fisher Program a grant, loan, or tax credit?
Future Fisher Program is a Grant and Funding