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
The Nova Scotia Fisheries and Aquaculture Loan Board supports various projects and activities aimed at sustainable growth in the fishing and aquaculture sectors. Eligible activities include responsible lending to new fishers, sea farmers, and boat builders as well as supporting those wishing to diversify and expand their operations.
- Loans for new fishers entering the industry
- Financial support for sea farmers and aquaculture projects
- Lending assistance for boat builders
- Loans for existing fishers looking to diversify and expand
- Support for the development of sustainable fish harvesting and aquaculture sectors
grant_single|admissibleProjectsExample
$180,000
Vancouver
Expand aquaculture facilities with new tanks and filtration systems
$85,000
Charlottetown
Implement a training program for new fishers to improve skills and safety
$250,000
St. John's
Upgrade an existing fishing vessel with new engines and electronic systems
$300,000
Halifax
Purchase a new fishing vessel and install modern fishing equipment
$120,000
Victoria
Renovate and repair an old fishing vessel to meet modern standards
$200,000
Saint John
Start a new shellfish farming operation with new aquaculture farms
grant_single_labels|admissibility
- Must be a new fisher, sea farmer, or boat builder in Nova Scotia
- Those looking to diversify and expand are also eligible
grant_eligibility_criteria|who_can_apply
The Nova Scotia Fisheries and Aquaculture Loan Board is focused on supporting the seafood industry in Nova Scotia. Their programs are aimed at fostering the growth and success of the fish harvesting and aquaculture sectors.
- New fishers
- Sea farmers
- Boat builders
- Fisheries and aquaculture businesses looking to diversify and expand
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant may include:
- Fishing equipment and gear
- Boat maintenance and repair
- Aquaculture infrastructure
- Expansion and diversification projects
- Training and certification costs
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.
Apply to this program
Nova Scotia Fisheries and Aquaculture Loan Board Grant Overview
The Nova Scotia Fisheries and Aquaculture Loan Board provides financial support to new and established fishers, sea farmers, and boat builders in Nova Scotia, fostering the growth and sustainability of the region's seafood industry. Through responsible lending practices, it aims to help applicants diversify, expand, and innovate their operations.
Comprehensive Guide to the Nova Scotia Fisheries and Aquaculture Loan Board Grant
The Nova Scotia Fisheries and Aquaculture Loan Board (NSFALB) serves as a pivotal resource for the province's thriving seafood industry, offering specialized lending products to support both emerging and seasoned professionals within the fishing, aquaculture, and boat-building sectors. Established in 1936, the board's mission has been steadfast: to promote and sustain the economic health of Nova Scotia's coastal communities by providing necessary financial assistance tailored specifically to the unique needs of its clients. NSFALB's lending products are designed to facilitate the acquisition of vessels and equipment, the development of aquaculture facilities, and refinancing options to optimize operational costs. With a keen understanding of the industry's challenges, the board offers flexible repayment terms and competitive interest rates, making it an attractive alternative to conventional banking methods for those within the industry. The significance of this support cannot be overstated, as it enables local fishers and aquaculture farmers to invest in state-of-the-art technology, implement sustainable practices, and ultimately enhance their productivity and profitability. The application process with the NSFALB is straightforward, reflecting the board's commitment to minimizing barriers for applicants. Guidance is available at every stage, ensuring a seamless experience as potential borrowers navigate the intricacies of securing funding. This includes personalized consultations with experienced loan officers who are adept at not only assessing financial viability but also understanding the nuanced demands of the fishing and aquaculture sectors. One of the key features of the NSFALB is its deep-rooted focus on community support and development. Success stories, such as those of the We’koqma’q First Nation, highlight the transformative impact that strategic financial backing can have. Through their collaboration with the loan board, this First Nation community has made significant strides toward economic empowerment and sustainability, exemplifying how such partnerships can open a world of possibilities. The board's long-standing expertise and hands-on approach ensure that it is more than just a financial institution; it is a partner in growth. Clients frequently express gratitude for the level of personal engagement and industry-specific knowledge they receive, which often surpasses what traditional banks can offer. Testimonials from local fishing communities indicate that NSFALB's understanding of the sector extends beyond mere financials, focusing on cultivating resilience and adaptability amidst fluctuating environmental and market conditions. In summary, the Nova Scotia Fisheries and Aquaculture Loan Board remains an indispensable ally for those in the maritime industry, providing the financial tools and expert guidance necessary to foster innovation and sustainability. Through its tailored loan products and comprehensive support systems, NSFALB exemplifies a model of responsible lending that strengthens not only individual businesses but the broader provincial economy.