Aquaculture Loans and Loan Guarantees ### 📋 Eligible Entities - Aquaculture businesses and operators - Fish farmers and shellfish farmers - Commercial aquaculture enterprises - Sole proprietors engaged in aquaculture operations - Partnerships operating aquaculture businesses - Corporations involved in aquaculture production - Existing aquaculture operations seeking to expand or upgrade equipment ### 💰 Funding Details - Loan guarantee coverage: Up to 95% of eligible costs - Eligible purchase types: New or used vessels, engines, and aquaculture-related equipment - Loan structure: Guarantee-backed financing through participating lenders - Repayment terms: Determined by lender in accordance with the guarantee agreement - Interest rates: Set by participating financial institutions - No grant component: This is a loan/guarantee program, not a non-repayable grant - Funding ceiling: Varies based on asset value and lender assessment ### 🛠️ Approved Expenses - Purchase of new vessels for aquaculture operations - Purchase of used vessels (subject to condition assessment) - Acquisition of engines for aquaculture vessels - Purchase of aquaculture-specific equipment and machinery - Major repairs to vessel hulls - Major repairs to vessel engines - Equipment upgrades necessary for aquaculture production ### ⚠️ Conditions & Milestones - Applicant must demonstrate aquaculture business viability - Vessel or equipment must be used directly in aquaculture operations - Lender approval required before guarantee is issued - Borrower must meet standard lending criteria from participating financial institutions - Assets financed must be properly insured - Guarantee covers up to 95%, leaving minimum 5% borrower equity/contribution - Loan repayment obligations remain the responsibility of the borrower - Compliance with provincial and federal aquaculture regulations required - Vessel must meet all safety and operational standards