Commercial Fisheries Loans Program

Established in 1972, the Fisheries Loan Program provides a source of capital for Commercial Harvesters, Packers, and Processors.

Communities Economic Development Fund (CEDF) provides loans to any “fishers as defined under the Fisheries Act who holds a license under Part II.1 (licensing) of that Act” — CEDF Act regulations.

CEDF can also provide loans to enterprises whose main source of revenue is derived from “growing, processing or selling fish, or products related to fish that are harvested or grown in the province” — CEDF Act regulations.

Types of loans available

CEDF provides access to capital for Commercial Fishers:

CEDF Harvester Loans – Click for Application

Licensed Commercial Harvesters can borrow up to $75,000 (subject to earnings levels) for the purchase or repair of equipment used in a viable fishing operation as well as to assist in the purchase of quota entitlement.

Loans are offered at floating rates based on prime or CEDF cost of funds. Some conditions apply:

• CEDF can refuse financing for assets that are in CEDF’s opinion not required to harvest fish.
• Loans may not be used to repair equipment owned by a third party unless the fishers are partners.