No Fixed Amount
Type of Program:
The Fisheries Loan Guarantees provides loan guarantees to New Brunswick fishers and sea farmers for the purchase of fishing licenses, quotas, engines or equipment related to fisheries, new or used vessels or for making major repairs to the hull or engine of a vessel. The program is designed to share the financial risk with financial institutions.
Comments on Funding:
There is a loan guarantee fee of 1.5 % of the amount guaranteed, paid at the beginning of each year. Repayment terms are matched to the cash flow of the project as supported by the business plan. Options include interest only payments or principal and interest payments.
When It Ends:
The applicant must:
Applicants must submit:
- 1a completed application form,
- 2a business plan which includes: