Financial support program for commercial fishing enterprises – Stream 2 – Financing commercial fishing

Eligible Applicants
This measure is aimed at fishing companies.

Eligible projects
Funding under this component must be for the purpose of carrying out projects:

Acquisition, construction and repair of commercial fishing boats, as well as the implementation of projects targeting electronic, mechanical and hydraulic components of boats, as well as safety equipment;
Acquisition of fishing licenses and commercial fishing quotas.
When acquiring a business, acquiring a first boat or buying a block of assets, fishing gear is eligible for financing.

The financing may also be for the purpose of consolidating the company’s debts or for guaranteed financing already granted, provided that it is combined with a project as defined in the preceding paragraph, unless the viability of the company is at stake, in which case only consolidation is admissible.

Eligible expenses
Eligible expenses are expenses directly related to the implementation of an eligible project subject to verification and to the satisfaction of the Minister of Agriculture, Fisheries and Food. They include in particular those related to:

The acquisition, construction and repair of a fishing boat;
The acquisition of electronic, mechanical, hydraulic components as well as safety and telecommunications equipment for a fishing boat, as well as their installation;
The acquisition of a fishing business;
The acquisition of fishing quotas or permits;
Consolidation of debts incurred for the construction, repair, purchase of boats and equipment, acquisition of fishing licenses or fishing quotas and fishing gear;
The acquisition of fishing gear such as trawls, trawl panels, steel cables, longlines and gillnets, pots and other gear necessary for the operation of the permits held. However, fishing gear may only be financed in the following cases:
during a business acquisition;
when acquiring a new fishing permit or fishing quota.