Canadian Seafood Stabilization Fund

Funding opportunity for Fish and seafood processing businesses in western Canada.

Atlantic Canada Opportunities Agency

Overview of the Canadian Seafood Stabilization Fund program:

The Government of Canada has committed $62.5 million to the Canadian Seafood Stabilization Fund to support the fish and seafood processing sector to manage the impact of COVID-19 and to prepare for economic recovery. IAF is delivering funding to eligible businesses that are active in the fish and seafood sector in British Columbia. The activities undertaken by the applicant will determine the value of funding available and whether funding is repayable or non-repayable. Applications are open to For-Profit Organizations and Not-For Profit Organizations. Eligible costs/activities can be retroactive up to and including March 15, 2020 and must be completed by March 31, 2021.

Benefits of the Canadian Seafood Stabilization Fund program:

In non-repayable initiatives, a maximum of $100,000 per project is attainable. Eligible costs related to the acquisition of non-revenue generating equipment/material for worker health and safety measures due to COVID-19 can be fully covered, up to 100% of the total expenses.
In the case of repayable endeavors, project funding can reach up to $1,000,000 per project. The funding structure allows for up to 75% of the eligible project costs to be shared, with the applicant contributing the remaining 25%.

Eligibility criteria of the Canadian Seafood Stabilization Fund program:

ELIGIBLE APPLICANTS:
FOR-PROFIT ENTITY IN THE FISH AND SEAFOOD PROCESSING INDUSTRY
NOT-FOR-PROFIT ENTITY PROVIDING SUPPORT TO THE FISH AND SEAFOOD PROCESSING INDUSTRY
ELIGIBLE ACTIVITIES
STORAGE CAPACITY: REPAYABLE ASSISTANCE TO INCREASE VARIOUS TYPES OF STORAGE CAPACITY (LIVE, FROZEN, AND/OR
PROCESSED INVENTORY; TEMPORARY OR PERMANENT STORAGE SOLUTIONS; DOMESTIC AND INTERNATIONAL STORAGE
SOLUTIONS).
PLANT OPERATIONS: REPAYABLE OR NON-REPAYABLE ASSISTANCE RELATED TO THE COST OF NEW EQUIPMENT AND PROFESSIONAL
SERVICES TO ADDRESS CHALLENGES RELATED TO COVID-19 WITHIN PLANT OPERATIONS. THIS INCLUDES COSTS RELATED TO
EQUIPMENT AND/OR PROFESSIONAL SERVICES FOR THE ADAPTATION OF PROCESSES, PRODUCTS AND PACKAGING AS WELL AS FOR
PERSONAL PROTECTIVE EQUIPMENT.
MARKET RESPONSIVENESS: REPAYABLE ASSISTANCE FOR MARKET DEVELOPMENT AND MARKET ENTRY ACTIVITIES TO ADDRESS
CHANGING MARKETS/CONSUMER DEMANDS AND NEW PRODUCT SAFETY REQUIREMENTS.