Financing

• Assistance through the Division of Investments can be an alternative to privately financing through a bank.
• Offer Rates subsidized at 2% below prime, between 3% to 10.5%
• As a government assistance to industry participants, the benefits that come with these loans require eligibility:
  
  • Must first be denied by private lending institute
  • At least 25% of total income must come from fishing
  • Held Limited Entry Permit for two prior seasons
  • Loans cover 80% of value of Permit & 65% for Vessels