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NOAA Now Accepting Applications for Fisheries Finance Program

FOR IMMEDIATE RELEASE:
March 29, 2016

NOAA's Fisheries Finance Program has received $100 million of lending authority* for Fiscal Year 2016 and we are now accepting applications. 

This program is a national loan program that offers long-term fixed interest rate loans to the commercial fishing and aquaculture industries.

Loan terms range from 5 to 25 years and interest rates are competitive.

Eligible projects may include:

Aquaculture & Mariculture

  • Purchase existing facility
  • Acquisition of facility equipment or improvements
  • New construction
  • Reconstruction

 

Fisheries Shoreside Facilities

  • Purchase existing facility
  • Acquisition of facility equipment or improvements
  • New construction
  • Reconstruction

 

Fishing Vessels (Including Charter Vessels)

  • Purchase existing vessel
  •  Acquisition of vessel equipment
  • Reconstruction with no increase in harvesting capacity
  • Upgrades to improve collection and reporting of fisheries data, to reduce bycatch, to improve selectivity or reduce adverse impacts of fishing gear, or to improve safety

 

This program can also refinance existing debt that originated for the above purposes.

For more information in the Greater Atlantic Region, please contact:

Jim Plouffe
NOAA Fisheries, Financial Services
55 Great Republic Drive, Suite 02-700
Gloucester, MA 01930
james.plouffe@noaa.gov
Phone: 978-281-9202 
Fax: 978-281-9375

*Lending authority is not an appropriation of funds and may not be converted to such.