Micro Loan
no fixed amount
Loan
Description:
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.
Comments on Funding:
Continuous Intake
Eligibility:
Applicants must be active fishers, aquaculturists, seafood processors, and boat builders as well as those looking to get into or get back into the industry.
Application Steps:
Applicants must:
1. complete and attach the forms required
2. need to complete one of more Appendices as instructed in the application checklist, based on the type of loan you’re applying for. 3. also need an additional copy for a guarantor or when working with your boatbuilder on a new build.
Documentation Needed:
Applicants must submit:
1. Micro Loan Form
2. Appendix D – Personal Financial Statement
3. Creditor Life Insurance Form
4. Certificate of Life Insurance
Other Things to Note:
About the author
Maurice
