Fisheries & Aquaculture Grants in Canada: Current Grants + Tips for Applying

Vessels are essential to a thriving seafood industry. From making improvements to a vessel to a complete customized new build, the Fisheries and Aquaculture Loan Board finances all types of projects relating to vessels.

Contribute to the development of the biofood sector by carrying out projects of collective interest arising from the priorities identified in the planning of a given territory or sector.

Promote the development of a common vision of the priorities of an agri-food sector or a territory as well as the coordination of the actors involved in their implementation.

The Technical Obstacles Program assists companies with seafood value-added products already in the marketplace, or those ready to go to market, with a technical issue that is keeping or prohibiting a product from entering a new market or limiting its current market success.

The Pêche en herbe program is presented by the Fondation de la faune du Québec, with the support of its main partner, Canadian Tire, and in collaboration with the Ministry of the Environment, the Fight against Climate Change, Wildlife and Parks through a special contribution from the sale of sport fishing permits.

Pêche en herbe aims to support organizations offering introductory sport fishing activities for young people aged 6 to 17 residing in the province of Quebec.

Start-Up Yard is the incubation facility at COVE (Centre for Ocean Ventures and Entrepreneurship). They help early stage companies commercialize their ocean technologies and succeed in the global marketplace. Start-ups grow stronger, faster with their acceleration programs, incubation space and services, funding, shared equipment, expertise, mentoring and wharf access.

The Southwestern Ontario Development Fund provides support for projects and investments to existing businesses, municipalities and not-for-profit organizations for economic development in southwestern Ontario. The objective of the program is to provide financial support and services to help growing companies in southwestern Ontario make investments to:
1. Grow their businesses
2. Improve productivity
3. Invest in innovation and skills development
4. Pursue new markets
5. Generate broad positive regional economic impact
6. Create new good, sustainable jobs

A project is a distinct undertaking, separate from ongoing operations, that will result in benefits to the organization such as business growth or access to new markets.

Build Nova Scotia believes in entrepreneurship and innovation. We are proud to support vibrant, healthy, connected communities through the delivery of sustainable strategic infrastructure. Living by the ocean is our greatest natural advantage – it’s where we work and play, where world-class researchers and industry innovate and collaborate.

Build Nova Scotia is seeking several local operators to “Pop-Up” their retail businesses in a modified shipping container for one-week opportunities within Salt Yard on the Halifax waterfront. The Salt Yard business district opened in 2017 and has become one of the most visited areas along the Halifax waterfront. Salt Yard is now home to over 25 small, seasonal businesses and is a popular venue for community events and activations. The intent of these additional pop-up opportunities is to help further this natural growth of Salt Yard by providing new and flexible platforms for small local businesses.

The Department of Fisheries, Forestry and Agriculture provides marketing support services to the Newfoundland and Labrador seafood industry and works with industry participants on innovative and collective approaches to seafood marketing.

Perennia’s Seafood Accelerator Program (SAP) was launched in 2019 with funding from the Nova Scotia Department of Fisheries
and Aquaculture (NSDFA). The funding program supports Nova Scotia based seafood companies adapt to the changing demands
of today’s markets by developing new value-added products, overcoming technical challenges with existing products, updating
food safety programs to comply with regulatory requirements and gaining access to new markets.

The Market Access Food Safety Program assists companies to overcome a specific food safety requirement or obstacle that is preventing them from entering a new market, or in keeping markets open when requirements change.
Specifically, this program will support a limited number of companies with: obtaining Global Food Safety Initiative (GSFI) certification which will in turn open more export markets, and meeting the food safety requirements of new markets to support market entry or market expansion.

The eligibility certificate is used to certify, based on plans and specifications, that a shipbuilding project corresponds to the construction of a prototype ship for the purposes of the refundable tax credit for shipbuilders.

Some diseases can limit the development of Quebec fish farms. The profitability of a fish farm can be seriously affected by the mortality rate or growth delays linked to these diseases.

The program gives Quebec fish farms the opportunity to produce and offer fish (eggs, fry, fish or broodstock) for which a health status is granted.

Quebec Fisheries Fund’s Science Partnership stream is designed to enable the creation of partnerships that:
1. improve knowledge of the impacts of ecosystem shifts on commercial fisheries;
2. support the implementation of sustainable harvesting technologies.

Quebec Fisheries Fund’s Innovation stream is designed to encourage the development of new products and technologies in the harvesting, aquaculture and fish processing sectors.

Quebec Fisheries Fund’s Infrastructure stream is designed to encourage the use of new technologies or processes to support the sustainable development of the sector.

The Quebec Fisheries Fund stimulates innovation in the fish and seafood sector in Quebec and supports its development and adaptation.

The Fund is a contribution program jointly funded by the governments of Canada and Quebec. Funding for the program comes 70 % from the Government of Canada and 30 % from the Government of Quebec.

The Commercial Fisheries Freight Subsidy Policy (Policy) provides financial support to eligible commercial fishing businesses in Nunavut to offset the freight costs required to move their product to market and for air charters for fly-in fisheries.

The Nunavut Development Corporation (NDC) places equity investments in eligible Nunavut business enterprises in order to support employment and income earning opportunities achieved through new business start-ups or the expansion of an existing business. Although not exclusive, NDC emphasizes placing equity investments that support Nunavut business enterprises operating in our fishing, tourism, and cultural industry sectors.

Is your business or license changing hands? The Fisheries and Aquaculture Loan Board offers financing to transition from one owner to the next guided by our experienced and knowledgeable team of Loan Officers.

Your seafood processing business is unique, so is our financing. Whether you’re looking to develop a new idea or expand an existing business, we’ll work with you to develop a loan structure that best suits individual business needs.

The Nova Scotia Sportfish Habitat Fund was established in 2005 in response to a request by organized angling groups to provide financial support to volunteers working on the protection of fish habitat and improvement of public access to the sportfishing resource.

Perennia is providing non-repayable financial assistance to Nova Scotia commercial entities in the fishing, aquaculture, marine plant harvesting and seafood buying/ processing sector to increase productivity, competitiveness, quality and sustainability in the fish and seafood sector under NS-ITAP. Depending on the nature and scope of the project, funding may also be awarded to Nova Scotia-based industry groups or associations.

The NS-ITAP supports ‘innovation’ and ‘infrastructure’ related projects and aims to increase the value and volume of Nova Scotia fish and seafood products that are marketed as high quality, value-added and sustainably sourced.

The Nova Scotia First Fund provides financing for emerging venture-grade technology companies with high growth potential and attractive risk-return prospects. Target industries include information technology, life sciences, clean technology and ocean technology.

The Atlantic Fisheries Fund supports innovative projects in the fish and seafood sector that help meet the growing global demands for seafood globally. The objective of the program is to drive new ideas and solutions to help the seafood sector meet market demand for sustainability sourced, high quality fish and seafood products.

The New Product Creator is an initiative intended to support the development of new seafood value-added products through activities such as market validation, prototype development and scale-up support with the intent of having the product successfully reach the intended market.

Micro loans are considered for projects under $50,000. In many cases, our micro loan products have a lower security level — which reduces legal fees and time. We offer competitive interest rates, flexible payment options and amortization periods, designed specifically for Nova Scotia’s seafood sector.

License(s) loans allow new fishers to join the industry, and established fishers to expand or diversify operations. We consider license and enterprise purchases to be long-term investments so we‘ll support you with long-term loans.

Licenses and gear loans allow new fishers to join the industry or established fishers to expand or diversify operations. It is available to new entrants, commercial fishers or clients looking to re-enter the industry.

The KTTP is a cost-shared reimbursement program intended to strategically support B.C.’s producers and processors to innovate and adapt to changing environmental, production, and market conditions through practical, applied knowledge and skill development to ensure behaviour change.
The objective of the Knowledge and Technology Transfer Program (KTTP) is to increase the competitiveness, resiliency, and innovation of the provincial agriculture and food sector through facilitated knowledge and technology transfer.

The Innovation Rebate Program (IRP) provides financial incentives for projects that assist Nova Scotia companies as they scale to increase their competitiveness. The program supports companies as they innovate, drive productivity, increase production capacity, and adopt cleaner and more sustainable approaches to growth across Nova Scotia. The Innovation Rebate Program works as a rebate against a company’s direct costs.

The Innovation Equity Tax Credit (Innovation ETC) is a non-refundable personal and corporate income tax credit available to eligible investors who invest in approved corporations.

The credit is meant to encourage investors to make equity capital investments in eligible Nova Scotia small and medium corporations engaged in innovative activities contributing to inclusive economic growth and increase investment in innovation that would not happen anyway. The investments incented by this program are meant to provide the capital required for research, development or commercialization of new technology, new products or new processes.

A government guarantee may be provided for loans through eligible financial institutions and is available to assist harvesters in the province in obtaining financing for:

vessel related items such as construction, purchase and/or refit.
combining of enterprises and license acquisitions.
refinancing of loans owed to fish processors for fixed assets and/or license acquisitions.
refinancing of loans previously obtained from chartered banks for vessel related purposes and fish license acquisitions (concurrent with combining of enterprises).

Down Payment Loans are available for the purpose of meeting the down payment requirements of accessing a loan from a financial institution for eligible activities. Borrowers typically must provide down payments of a minimum of 10 per cent of overall costs for vessel acquisition and construction, and a minimum of 15 per cent for all other purposes.

Finance charges on guaranteed loans offered by financial institutions are negotiated between the borrower and the institution. The Program places a ceiling on finance charges by allowing institutions to charge interest on guaranteed loans at the bank prime rate (currently 6.7 per cent) plus a maximum of 2.0 per cent or 2.5 cent depending on the nature of the loan.

The Grow Ontario Market Initiative provides funding to primary producers, processors and industry organizations to find and develop domestic or export market opportunities.

You may use the funding to grow your business through:
1. Marketing analysis and planning
2. New product development
3. Marketing activities

The Future Fisher Program program offers training and financial assistance to aid new entrant lobster fishers to become better positioned for success in the PEI lobster fishery.

The FSDR program is under the Food Affordability and Innovation Fund (FAI), an up to $20M fund. FAI aims to improve the affordability of food in BC through targeted investments in supply chains, food system innovations and partnerships. Specifically, the Fund will support approaches and collaborations at strategic nodes along the food supply chain to strengthen and streamline logistics, storage and transportation and improve access to affordable food, particularly in remote, rural, and/or indigenous communities. Learn more about FAI.

The Fisheries Loans provide financial assistance in the form of loans to new or existing commercial fishers for the purchase of fishing licenses, quotas, engines or equipment related to fisheries, new or used vessels or for making major repairs to the hull or engine of a vessel. The Department of Agriculture, Aquaculture and Fisheries (DAAF) acts as a complementary lender, so clients interested in a DAAF loan or loan guarantee must first seek financing from a private lender.

The Fisheries Loan Guarantees provides loan guarantees to New Brunswick fishers and sea farmers for the purchase of fishing licenses, quotas, engines or equipment related to fisheries, new or used vessels or for making major repairs to the hull or engine of a vessel. The program is designed to share the financial risk with financial institutions.

The Fisheries Loan Guarantee Program supports the development of the province’s independent fish harvesting industry by providing a government guarantee on loans through local chartered banks for the construction or purchase of marine vessels and/or to purchase new engines and fishing equipment for the improvement, rebuilding or alteration of existing vessels. Loans may also be approved to refinance loans previously obtained from fish processors for fixed asset costs.

The Fisheries Development and Diversification Program is an initiative by the Government of Nunavut aimed at fostering a sustainable and economically viable fishing industry within the territory. Administered by the Department of Environment, this program provides financial support to various stakeholders in the fishing industry, including individuals, businesses, and organizations.

The Fisheries Development and Diversification Program is an initiative by the Government of Nunavut aimed at fostering a sustainable and economically viable fishing industry within the territory. Administered by the Department of Environment, this program provides financial support to various stakeholders in the fishing industry, including individuals, businesses, and organizations.

The Fisheries and Aquaculture Energy Efficiency Innovation Fund (FAEEIF) is a provincially-funded program designed to help prepare the commercial fisheries and aquaculture sectors in Nova Scotia to reduce their energy use and mitigate climate change impacts, in alignment with provincial targets as outlined in the Environmental Goals and Climate Change Reduction Act: reduce emissions to at least 53% below the levels that were emitted in 2005 by 2030 and achieve net zero by 2050.
Objective: Supporting studies that enable future projects under the other pathways (Electrification,
Renewable, and Operational Efficiency) included in this funding program. The intent of the study should
be to enable more than one project that is not tied to a specific company. The Study Path promotes
future projects that enable the core intent of the fund to create innovative, sustainable, and energyefficient practices in the Nova Scotia fisheries sector.

The Fisheries and Aquaculture Energy Efficiency Innovation Fund (FAEEIF) is a provincially-funded program designed to help prepare the commercial fisheries and aquaculture sectors in Nova Scotia to reduce their energy use and mitigate climate change impacts, in alignment with provincial targets as outlined in the Environmental Goals and Climate Change Reduction Act: reduce emissions to at least 53% below the levels that were emitted in 2005 by 2030 and achieve net zero by 2050.
Objective: Supporting adoption of renewables such as solar, wind, geothermal, or biofuel.

The Fisheries and Aquaculture Energy Efficiency Innovation Fund (FAEEIF) is a provincially-funded program designed to help prepare the commercial fisheries and aquaculture sectors in Nova Scotia to reduce their energy use and mitigate climate change impacts, in alignment with provincial targets as outlined in the Environmental Goals and Climate Change Reduction Act: reduce emissions to at least 53% below the levels that were emitted in 2005 by 2030 and achieve net zero by 2050.
Objective: Supporting energy efficient technology adoption and exploration of energy monitoring and
cost of production management projects.

The Fisheries and Aquaculture Energy Efficiency Innovation Fund (FAEEIF) is a provincially-funded program designed to help prepare the commercial fisheries and aquaculture sectors in Nova Scotia to reduce their energy use and mitigate climate change impacts, in alignment with provincial targets as outlined in the Environmental Goals and Climate Change Reduction Act: reduce emissions to at least 53% below the levels that were emitted in 2005 by 2030 and achieve net zero by 2050.
Objective: Supporting the transition to the use of electric vessels, support vehicles (support off-road
vehicles need to displace fossil fuel-based off-road support vehicle), and charging infrastructure
(including associated energy storage).

Strengthen the competitiveness of companies in the aquatic product processing sector by improving their productivity and the health and food safety of their products.

Improving the environmental performance of aquaculture companies and aquatic product processing companies through the adoption of new techniques and technologies.

Increase the production, profitability and biosecurity of commercial fisheries and aquaculture companies through the development of new products or the implementation of new company-specific processes.

Facilitate the acquisition of businesses, boats, fishing equipment, fishing licenses and commercial fishing quotas.

Promote the establishment of a first commercial fishing business by fishermen, including the next generation.

Avoid the loss of assets, ensure the survival of fishing companies, protect jobs in supported companies and enable the recovery of the company’s financial situation.

This component provides funding for enhancing the competitiveness of companies in the aquatic product transformation sector by strengthening their products food safety and security.

This component providea funding for enhancing the productivity and profitability of companies in the aquatic product transformation sector.

This component providea funding for improving the environmental performance of aquaculture and seafood processing companies through the adoption of new techniques and technologies.

This program provides funding to increase production, profitability, and biosecurity of commercial fisheries and aquaculture enterprises through the development of new products or the implementation of new proprietary processes within the company.

The Energy Efficiency Innovation financing aims to support eligible seafood businesses with the adoption of energy efficient technologies to reduce GHG emissions. Financing is complementary to the Fisheries and Aquaculture Energy Efficiency Innovation Fund administered by EfficiencyOne and can assist eligible seafood businesses to invest in electrification, operational efficiency or renewal energy and alternative fuel projects.

The Employment Enhancement program supports employers in the forestry, aquaculture, agriculture, and fishing sectors engaged in value-added secondary processing by providing funding to employers to create sustainable, long-term employment or seasonal employment and a training allowance to support new employees.

The Eastern Ontario Development Fund provides support for projects and investments to existing businesses, municipalities and not-for-profit organizations for economic development in eastern Ontario. The objective of the program is to provide financial support and services to help growing companies in eastern Ontario make investments to:
1. Grow their businesses
2. Improve productivity
3. Invest in innovation and skills development
4. Pursue new markets
5. Generate broad positive regional economic impact
6. Create new good, sustainable jobs

A project is a distinct undertaking, separate from ongoing operations, that will result in benefits to the organization such as business growth or access to new markets.

The Circular Economy Accelerator Program provides 1:1 support to businesses seeking to find operational efficiencies, reduce waste and emissions, increase revenue, and develop innovative practices. This program – the first of its kind in Canada – will position your business as an industry leader, attracting talent and investment, increasing revenue, and paving the way to a prosperous, sustainable, and resilient future for your community.

The Nova Scotia Capital Investment Tax Credit (CITC) is a refundable corporate tax credit that can be claimed for capital costs directly related to acquiring qualified property for use in Nova Scotia as part of an approved project.
The CITC is aligned, but not harmonized with, the federal government’s Atlantic Investment Tax Credit (AITC).

The Buy BC Partnership Program is a fundamental component of Buy BC programming that provides up to $2 million in cost-shared funding annually to local producers, processors, and associations to support their ability to undertake local marketing activities that increase consumer awareness and sales of local agriculture, food and beverage products.

Buy BC is a province-wide marketing program that focuses on building greater consumer awareness, demand and sales of local agriculture, food, and beverage products within British Columbia. The Buy BC logo provides a trusted symbol for consumers to look for and identify fresh, high-quality B.C. products, and encourages them to explore new products from around the province.

The Business Investment Program provides term loans to small and medium-sized enterprises (SMEs) in strategic growth sectors as identified by Industry, Energy and Technology. The fund is also available to businesses which have export potential and require assistance to enter or expand in external markets. Funds are provided to complement funding from conventional sources, where a need has been demonstrated, and are also intended to increase the capital base of businesses allowing them to leverage new private-sector investments.

The Business Investment Program provides term loans and equity investments to Newfoundland and Labrador SMEs in strategic growth sectors as identified by Industry, Energy and Technology (IET). The fund is also available to businesses which have export potential and require assistance to enter or expand in external markets.
Funds are provided to complement funding from conventional sources, where a need has been demonstrated, and are also intended to increase the capital base of businesses allowing them to leverage new private-sector investments.

The British Columbia Salmon Restoration and Innovation Fund (BCSRIF) aims to:

ensure the fish and seafood sector in B.C. is positioned for long-term environmental and economic sustainability
support the protection and restoration of wild Pacific salmon and other fish stocks

Are you looking to start, grow, or acquire a boatbuilding operation? The Fisheries and Aquaculture Loan Board supports the long term success of boatbuilders in Nova Scotia with flexible and affordable financing.

Increase the development of new knowledge, new products or new processes and their adaptation to businesses in the commercial fisheries and aquaculture sector.

The Department of Agriculture, Aquaculture and Fisheries (DAAF) provides repayable loans and loan guarantees to promote development of the aquaculture sector as a complementary lender. DAAF will work with other lenders to facilitate succession and new development of viable projects, such as: purchasing of new or used vessels, undertaking activities related to aquaculture, purchasing an engine or equipment related to aquaculture, or making major repairs to the hull or engine of a vessel.

The Aquaculture Loan provides funding to fishers and sea farmers in Nova Scotia to build their business. Loans can be used for starting, expanding or purchasing an aquaculture business.

The objective of the Aquaculture Capital Equity Program is to partner with companies to increase production from both hatcheries and marine sites in Newfoundland and Labrador. The program will provide a minimum investment to projects of $250,000 for finfish operations and $100,000 for shellfish to match a private sector cash investment.

The objective of the program is to assist in increasing
production of commercial aquaculture products
in the province, from both hatcheries and marine
sites, thereby increasing employment and spin-off
opportunities in the processing, manufacturing, supply
and service sectors, primarily in rural Newfoundland
and Labrador

Increase the adoption of good business practices through the use of advisory services that contribute to informed decision-making.

Develop the skills and expertise of advisors by carrying out projects that contribute to the growth of a range of advisory services that meet the needs of agricultural and agri-food businesses.