Vessel Loan Program
NS, Canada
Loans for fishing vessels, engines and equipment in Nova Scotia
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Agriculture, forestry, fishing and hunting
grant_single|grantors
- Government of Nova Scotia
- Department of Fisheries and Aquaculture (NS)
grant_single|status
grant_card_status|open
grant_single_labels|preview
Term loan to purchase or build a fishing vessel, install engines, equipment, and/or electronics, or make technical modifications to a vessel.
grant_single_labels|projects
This grant is specifically available to companies operating within Nova Scotia, as defined by the Nova Scotia Fisheries and Aquaculture Loan Board. The program supports the local fishing and aquaculture sectors, focusing on regional development.
- All areas within Nova Scotia, Canada.
- Communities engaged in the fishing and aquaculture industry in Nova Scotia.
grant_single|admissibleProjectsExample
$85,000
Implement a training program for new fishers to improve skills and safety
$180,000
Expand aquaculture facilities with new tanks and filtration systems
$250,000
Upgrade an existing fishing vessel with new engines and electronic systems
$300,000
Purchase a new fishing vessel and install modern fishing equipment
$120,000
Renovate and repair an old fishing vessel to meet modern standards
$200,000
Start a new shellfish farming operation with new aquaculture farms
grant_single_labels|admissibility
Eligibility for obtaining a loan from the Nova Scotia Fisheries and Aquaculture Loan Board may include certain criteria based on the applicant's background and intended use of the funds.
- The applicant should be a new fisher, sea farmer, or boat builder in Nova Scotia.
- The proposed activities should focus on diversification and expansion within the seafood industry.
- The applicant must intend to foster sustainable fish harvesting and aquaculture practices.
- The application should demonstrate a plan for the growth and development of operations in alignment with the board's objectives.
grant_eligibility_criteria|who_can_apply
The Nova Scotia Fisheries and Aquaculture Loan Board supports new and existing fishers, sea farmers, and boat builders looking to diversify or expand in Nova Scotia's seafood industry.
- New fishers seeking to enter the industry.
- Established sea farmers aiming to diversify their operations.
- Boat builders planning to expand their business.
- Businesses in the aquaculture sector focused on sustainability.
- Applicants with projects contributing to the development of fish harvesting.
grant_eligibility_criteria|eligible_expenses
The Nova Scotia Fisheries and Aquaculture Loan Board supports projects and activities that are aimed at enhancing the development and sustainability of the fishing and aquaculture sectors in Nova Scotia. These initiatives are focused on assisting new entrants, as well as supporting expansion and diversification efforts.
- Supporting the entry of new fishers and sea farmers into the industry.
- Facilitating the diversification of existing fishing and aquaculture operations.
- Providing financial assistance for the construction and acquisition of fishing boats.
- Funding the development and expansion of aquaculture facilities.
grant_eligibility_criteria|zone
The grant is tailored to support businesses involved in the fisheries and aquaculture sectors within Nova Scotia. This is evident from the focus on supporting local fishers, sea farmers, and boat builders in the region.
- Nova Scotia
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. Applications are assessed based on financial viability, sustainability, feasibility, and economic impact to the fishing and aquaculture industry in Nova Scotia.
- Financial Viability
- Sustainability of the project
- Feasibility of the proposal
- Economic impact on the local industry
grant_single_labels|register
- Step 1: Get in touch with the Nova Scotia Fisheries and Aquaculture Loan Board.
- Step 2: Discuss your lending needs and business goals with their team of loan officers.
- Step 3: Submit an application for a loan.
- Step 4: Work closely with the Loan Board throughout the application process.
grant_single_labels|otherInfo
Here are additional relevant details for this loan program:
- The Nova Scotia Fisheries and Aquaculture Loan Board has been supporting the seafood industry since 1936, emphasizing their long-standing experience.
- The Loan Board provides a client-centric approach, emphasizing support beyond traditional bank offerings, tailored specifically for the fishing sector.
- Clients receive individualized support, reflected in testimonials citing reliable communication and a deep understanding of the fishing industry.
- Interest rates offered by the Loan Board are highly competitive, as noted by customer testimonials.
- The Loan Board offers flexibility and understanding in repayment, particularly valuable during tough financial times.
- The Loan Board's service includes personalized attention, with loan officers acting as supportive guides throughout the application and post-loan processes.
Apply to this program
Empowering Growth in Nova Scotia's Maritime Industries
The Nova Scotia Fisheries and Aquaculture Loan Board provides essential financial support to fishers, sea farmers, and boat builders, promoting expansion and sustainable diversification in the seafood industry. This grant enables stakeholders within the maritime sector to achieve long-term success while preserving the cultural and economic heritage of Nova Scotia's communities.
Deep Dive into the Nova Scotia Fisheries and Aquaculture Loan Board Initiatives
The Nova Scotia Fisheries and Aquaculture Loan Board has been a cornerstone of the maritime community since 1936, dedicated to supporting the local seafood industry through responsible and focused lending. By providing financial resources to new fishers, sea farmers, and boat builders, the Loan Board helps them embark on new ventures or expand existing operations, thereby contributing to the sustainable development of the region's fish harvesting and aquaculture sectors.
The Loan Board recognizes the unique challenges faced by individuals and businesses within this sector, offering tailored lending products that mitigate financial risks and foster growth. These products are designed to support a wide range of needs, from equipment purchases and infrastructure upgrades to diversification into new markets or species. The process of applying for these loans is streamlined and customer-focused, ensuring applicants can easily navigate the financial support system with expert guidance at every turn.
Testimonies from satisfied clients highlight the invaluable role the Loan Board plays in their success stories. Clients praise the Board’s reliability, quick response to queries, and the exceptionally favorable interest rates that make the loans a viable alternative to traditional banking services. Unlike conventional banks, the Board prioritizes the individual relationships built with their clients, offering not only financial support but also practical advice and understanding of industry-specific challenges.
The Loan Board’s role is not merely transactional; it forms part of the economic fabric of Nova Scotia, fostering both individual and community growth. By supporting projects from diverse cultural backgrounds, such as the We’koqma’q First Nation's initiatives, or advancing the maritime legacies of families like Matt Brown's in Pictou County, the Board ensures that economic activities align with cultural values and sustainable practices.
Moreover, the Loan Board’s commitment to innovation and environmental stewardship helps protect the biodiversity and marine environments that are vital to Nova Scotia’s way of life. By supporting seafood operators who embrace sustainability, the Board contributes to preserving the rich maritime heritage and enhances economic resilience against potential ecological and market shifts.
The impact of these initiatives extends beyond financial growth, as they empower communities to pursue sustainable economic pathways that honor historic legacies while responding to contemporary demands. This balanced approach ensures the longevity of Nova Scotia’s seafood industry, fostering a thriving maritime culture for future generations.
