Open

Future Fisher Program

Q: How much funding can be received?

Future Fisher Program Funds up to 2% of admissible expenses, capped at $12000 per project.

Q: What is the deadline to apply?

The deadline to apply is not specified.

Q: Is the Future Fisher Program a grant, loan, or tax credit?

Future Fisher Program is a Grant and Funding

Q: Who are the financial supporters of the Future Fisher Program?

Future Fisher Program is funded by Government of Prince Edward Island, Department of Fisheries, Tourism, Sport and Culture (PEI)

Q: Who can I contact for more information about the Future Fisher Program?

You can contact Government of Prince Edward Island by email at reagmacdonald@gov.pe.ca.

Q: Where is the Future Fisher Program available?

The Future Fisher Program program is available the province of Prince Edward Island.

Last Update: December 9, 2025

PE, Canada

Supports new Prince Edward Island lobster fishers with training and financing

Grant and Funding

Department of Fisheries, Tourism, Sport and Culture (PEI)

Government of Prince Edward Island

At a glance

Funding available

Financing goals

No objectives are currently available

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

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.

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.

Examples of admissible projects:

$ 12,000

Setting up a community lobster fishery program with training support

$ 12,000

Launch of a sustainable lobster fishing operation with training

$ 12,000

Acquisition of lobster fishing license and training

$ 12,000

Establishing a lobster fishery business with fleet training

$ 12,000

Development of a lobster fishery with ecological practices

Eligibility

The applicant must be an individual resident of Prince Edward Island and at least 18 years old.
The applicant must be the holder of a Class A lobster license purchased after January 1, 2009, and must not have held a Class A lobster license before that date.
Only the license holder is eligible to apply for support under this program for a given fishing enterprise (one applicant per fleet).
The applicant must be a new entrant in the PEI lobster fishery and seeking support to improve their position and success in the lobster fishery.
If applying for interest relief, the applicant must have borrowed funds from a recognized financial institution to acquire fishing-related assets, including a lobster license.

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.

How to apply

Download and Complete Application Form

Download the application form from the program's webpage.
Gather all necessary information as outlined in the eligibility criteria.

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.

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.

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.

Follow-Up

Wait for contact from the program officer to discuss your application.
Receive a letter and contractual agreement upon approval.

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

reagmacdonald@gov.pe.ca

PE, Canada

Apply to this program

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?

How much funding can be received?

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.

What is the deadline to apply?

Is the Future Fisher Program a grant, loan, or tax credit?

Who are the financial supporters of the Future Fisher Program?

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).