Type of Program:
The Fishers Low Interest Loan assists Prince Edward Island fishers experiencing financial difficulties due to the uncertainty surrounding the global markets for this product.
Comments on Funding:
Funding is a loan with a 4 per cent interest rate for a 5 year term, amortized over a 15 year period, to a maximum loan amount of $500,000. Finance PEI will require a first position security interest over all fishing-related assets including all fishing licenses. Other security deemed necessary by Finance PEI may be required.
When It Ends:
Next deadlines to be determined
Only fishing-related assets purchased before April 1st, 2020 will be considered as eligible expenses.
No specific steps have been identified.
No specific documentation has been identified.
Other Things to Note:
The previous intake deadline was on July 15, 2022.
Published date: July 15, 2020