No Fixed Amount
Type of Program:
The Aquaculture Loan provides funding to fishers and sea farmers in Nova Scotia to build their business. Loans can be used for starting, expanding or purchasing an aquaculture business.
Comments on Funding:
The loans have flexible repayment schedule to match the income stream, including interest only payments with a final repayment when the product is sold.
The Aquaculture Loan product is typically secured by the assets you are acquiring. The Security takes the form of a General Security Agreement over personal property. A Collateral Mortgage, or Continuing Collateral Mortgage is used in the case where real estate is required.
When It Ends:
Applicants must be:
Applicants must submit a completed application form to Nova Scotia Fisheries and Aquaculture Loan Board.
Applicants must submit the application form if they are considering buying a vessel, license and gear owned by a company and also the further documents if they are considering buying specialized equipment:
Other Things to Note:
All applications are subject to an Administration Fee and a Mortgage Registration Fee.