Aquaculture Loans and Loan Guarantees

Overview of the Aquaculture Loans and Loan Guarantees program:

The Department of Agriculture, Aquaculture and Fisheries (DAAF) provides repayable loans and loan guarantees to promote development of the aquaculture sector as a complementary lender. Clients interested in a DAAF loan or loan guarantee must first seek financing from a private lender. DAAF’s loan program may then be available to help fill the gap between the assistance required and what the client has been approved for privately. DAAF will work with other lenders to facilitate succession and new development of viable projects. New entrants, defined as someone who has owned a farm for five years or less, may be eligible for lower interest rates and equity requirements.

Eligibility criteria of the Aquaculture Loans and Loan Guarantees program:

• Purchase a new or used vessel
• Undertake activities related to aquaculture
• Purchase an engine or equipment related to aquaculture
• Make major repairs to the hull or engine of a vessel