Fishermen, Processors, Aquaculturists: Need a Loan? NOAA Ready to Help
The Financial Services Division of NOAA Fisheries is now conducting reviews for potential loan applicants, and they want to get the word out that funds are available.
Eligible projects — for purchase or refinance — include:
- Fishing vessels
- Federal harvesting rights (quota shares, LLPs, etc.)
- Fisheries shoreside processing facilities
- Aquaculture or mariculture facilities
Terms and interest rates are better than many conventional loans at terms up to 25 years and fixed interest rates 2% over U.S. Treasury Rates. For 10-year loans that mean 5.53%, 15-year at 5.68% and 25-year ...
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