11.415: Fisheries Finance Program
Alternate Name: Fisheries Finance Program
Overview
Program Number
11.415
Status
Active
Last Modified
Sept. 13, 2022
Date Posted
Sept. 13, 2022
Objective
Provides direct loans for certain fisheries costs. Vessel financing available for the purchase of used vessels or the reconstruction of vessels (limited to reconstructions that do not add to fishing capacity). Refinancing available for existing debt obligations. FFP loans are not issued for purposes which could contribute to over capitalization of the fishing industry. Finance or refinance fisheries shore side facilities or Aqua cultural facilities. Provides Individual Fishing Quota (IFQ) financing (at the request of a Fishery Management Council). IFQ financing available at this time to first time purchasers and small vessel operators in the Halibut Sablefish fisheries. Provides long term fishery buy back financing (at the request of a Fishery Management Council or Governor) to purchase and retire fishing permits and/or fishing vessels in overcapitalized fisheries.
Type of Assistance
E - Direct Loans
Applicant Eligibility
Applicant must possess the ability, experience, financial resources, and other qualifications necessary to operate successfully and repay the debt.
Beneficiary Eligibility
Commercial fishermen, processors or distributors of fishery products.
Additional Information
Grant Awards
Fisheries Finance Program direct grants
Grant Opportunities