Aquaculture Capital Equity Program

Applicants must:

1. be currently involved, or
proposing to become involved, in the commercialscale production of shellfish or finfish at a Newfoundland and Labrador site licenced an approved by the Department of Fisheries, Forest y and Agriculture.
2. provide a business plan which includes information as requested by
Government in its Business Plan Guidelines.
3. clearly demonstrate, through its business plan, a strong potential for sustainable
employment opportunities, incremental production and increased sales, and long-term commercial viability.
4. clearly demonstrate, to the satisfaction of Government, a definite need for
Government financial assistance by way of an
equity investment; that the equity investment is
complementary to, and levers to the maximum
extent possible, other sources of financing; and that
the project could not proceed on a commerciallyviable basis without Government participation.
5. have all necessary licenses and regulatory approvals, to the satisfaction of Government.
6. be in good financial and legal
standing with Government
7. clearly demonstrate that
management has the required technical, financial,
marketing and managerial expertise for the
operation of a commercial-scale aquaculture
enterprise
8. if an existing operator, must have,
at the date of application, a minimum private
sector equity position equivalent to 20% of its total
assets, evidenced by externally-prepared (minimum
review engagement) financial statements for the
last fiscal year, updated to the date of application,
if requested. If the enterprise is a new operation,
the applicant must have a private sector equity
investment equivalent to 20% of total program
costs.
9. Be in the proposed program would not
preclude consideration under the Aquaculture
Working Capital Loan Guarantee Program