Programme de prêts aux entreprises de pêche ### 📋 Eligible Entities - Independent fishers/sole proprietors in the fishing industry - Fish harvesting businesses operating in Canada - Small-scale commercial fishing operations - Individuals with primary income derived from fishing activities - Applicants must have a viable fishing project or business plan ### 💰 Funding Details - Loan Guarantees: Government-backed loan guarantees to reduce lender risk and improve approval odds - Down Payment Loans: Dedicated financing for initial capital requirements and down payments on equipment or vessels - Interest Rate Buy-downs: Government subsidization of a portion of loan interest, reducing borrower's effective interest rate - Repayment Structure: Loans are repayable (not forgivable grants); terms vary based on lender and loan type - Matching Requirements: Borrower must secure institutional lending; government support supplements rather than replaces traditional financing ### 🛠️ Approved Expenses - Fishing vessel purchase or upgrade - Fishing equipment and gear acquisition - Maritime safety equipment and compliance upgrades - Vessel maintenance and repairs (capital improvements) - Down payments on fishing-related assets - Working capital for fishing operations - Technology and modernization of fishing operations ### ⚠️ Conditions & Milestones - Must demonstrate a credible fishing business plan or project proposal - Applicant must be approved by an institutional lender (bank, credit union, etc.) - Government guarantee/support is contingent on lender approval - Compliance with federal and provincial fishing regulations and licensing requirements - Ongoing project viability monitoring during loan term - Cannot use funds for expenses already incurred or committed - Subject to annual review of business performance - Must maintain active fishing license and operational status throughout loan period