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Aquaculture Loan Program

by Maurice | February 17, 2022

  • This program is currently closed.

Amount:

No Fixed Amount

Type of Program:

Loan


Description:

The Aquaculture Loan Program provides loans to develop and sustain aquaculture for finfish, shellfish and seaplants.

Financing is available for: salmonoid seed stock, shellfish seed/spat, collection materials, grow-out equipment and materials, rafts, buoys, floatation devices, anchors, nets, cages for finfish grow-out, small boats, outboard motors and onboard gear handling devices and purchase of existing operations.

Comments on Funding:

Minimum deposit is 10% of requested loan amount.
Security: Chattel mortgage on equipment. Promissory note, personal guarantee and insurance on gear.
All loans are subject to an Administration Fee and a Personal Property Registration (PPR) Fee.
Interest rate is set quarterly but is fixed for term of loan.
 


When It Ends:

Closed

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • be a Canadian citizen or a registered Nova Scotian company in good standing,
  • show evidence of competency in aquaculture.

Other Things to Note:

The same program as Aquaculture Loan.

Program Contact:

Aquaculture Loan Program

Related posts:

Nova Scotia Small Business: Complete Guide for Entrepreneurs
How to Start a Business in Nova Scotia (2023): Step-by-Step Guide for New Entrepreneurs
Incorporating a Business in Nova Scotia: Step-by-Step Guide for New Entrepreneurs
How to Register a Business in Nova Scotia: Step-by-Step Guide for New Entrepreneurs

About Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Atlantic Canada to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.

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