Fisheries Interest Relief Program ### 📋 Eligible Entities - Commercial fishery businesses operating in Prince Edward Island - Fishing enterprises with existing term debts with financial institutions - Businesses with outstanding loans from Finance PEI - Sole proprietors, partnerships, and corporations engaged in fisheries operations ### 💰 Funding Details - Interest Reimbursement: Up to 12 months of interest expense reimbursement on existing term debts - Coverage Period: May 1, 2020 to April 30, 2021 - Principal Deferral: Eligible principal payments on existing Finance PEI debts can be deferred - Repayability: Interest expenses are reimbursed (non-repayable); principal deferral extends repayment timeline - Matching Requirements: Not specified in available program details ### 🛠️ Approved Expenses - Interest payments on existing term debts held with financial institutions - Interest costs associated with outstanding Finance PEI loans - Eligible expenses limited to the 12-month relief period (May 1, 2020 – April 30, 2021) ### ⚠️ Conditions & Milestones - Eligibility Period: Relief applies only to interest accrued between May 1, 2020 and April 30, 2021 - Existing Debt Requirement: Debts must have been established prior to program launch - Financial Institution Verification: Proof of interest payments and debt statements required - Principal Deferral Terms: Specific deferral periods and conditions with Finance PEI apply (details incomplete in source material) - Documentation: Applicants must provide evidence of debt obligations and interest paid during the relief period