Government Loans for Fisheries

One of the government loans offered for people in the commercial fishing industry is the Fisheries Finance Program (FFP). It is a loan program that finance projects for construction or reconstruction of fishing vessels, shoreline and aquaculture facilities.

Loan Criteria

If you wish to apply for this government loan, you should meet the following criteria:

  • You must be a citizen of the United States.
  • The fisheries project should have been in operation for at least 3 years.
  • You should have enough assets to serve as loan collateral, and your credit and earning history should be excellent.

Required Documents

After the project proposal is deemed eligible for a small business loan offered, a set of documents are required to be submitted together with the filled-out application form:

  • fishing and licensing permits of the eligible project issued by the government (both Federal and State)
  • names of major customers and suppliers and its related credit terms/limits
  • lists of owners if the business is owned by one or more individuals