License Loan Program

Overview of the License Loan Program program:

License(s) and gear loans allow new fishers to join the industry and established fishers to expand or diversify operations. It’s available to new entrants, commercial fishers, or clients looking to re-enter the industry. We consider license and enterprise purchases to be long-term investments so we‘ll support you with long-term loans.

Benefits of the License Loan Program program:

• Independent fishers can pursue funding for the acquisition of a fishing license, either if they've never held a commercial fishing license or if they currently possess one but wish to obtain a license for a different species.
• Funding can cover just the license or both the license and related equipment.
• The interest rate stands at 6%, with a repayment duration capped at 20 years.
• Please note: Newcomers must provide a 5% deposit for a first-time license or a license that includes related equipment. For those seeking a license for a new species, a 10% deposit is mandatory, whether it's for the license alone or the license with accompanying gear.