Government Loans for Fisheries: Benefits

Government loans are a great source of funds for many different types of businesses. Agricultural loans have been a staple of the federal government for years. They loan money for farms, commodity marketing, farm storage, and more. One of the more popular programs is that of the Fisheries Finance Program. How do government loans for fisheries benefit borrowers? Let's look at a few facts about this type of loan program.

Large Loans

One of the great things about this program is that you can obtain a large loan from the government. In most cases, you will be asked to come up with as much as 20% but they will come up with the rest. This is pretty standard with any commercial loan and has been instituted into the government program as well.

Low Interest

The great thing about loaning money from the government is that you will be allowed access to a lower than average interest rate. In most cases, it is only slightly above the federal interest rate. Therefore, you can save a lot of money as well as get a lower payment than you could acquire in the private sector. Over a long period of time, the amount of money you save on interest charges will be thousands of dollars. This money can be better spent to improve the property or just stay afloat in the beginning.


Taking out any small business loan from the government is a good idea because of the stability that comes with it. Of anyone that will be in business for the long haul, you know the government will be. If the government goes under, you have bigger things to worry about besides a loan program anyway. This is a great way to borrow money from a stable, consistent organization.


Another benefit of this program is that you are only eligible if you have multiple years of experience in owning or operating a similar project in the past. This means that everyone who gets a random idea to open a fishery will not be able to. Only those that have done so successfully in the past will be granted the money that they need. This will eliminate a lot of competition for the loans and in the marketplace. Therefore, only those that have spent a lot of time in the field need apply.

Long Terms

The fisheries loan program allows for long term business loans. In many cases, you can get terms that are up over 20 years. This will allow you to spread out your payments as well as lower your payment.