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NOAA Fisheries offering industry-related loans

NOAA Fisheries is accepting applications from commercial fishermen and those in the aquaculture industry looking for a share of NOAA’s $100 million in lending authority designated for fiscal 2016.

The loans, which run from five to 25 years, have market-competitive interest rates.

Eligible applicants include those working in aquaculture, mariculture, shoreside fisheries facilities and commercial fishermen.

Potential uses for the funds among applicants from aquaculture, mariculture and shoreside fisheries facilities include purchasing an existing facility, improvements to an existing facility, new construction and reconstruction.

For commercial fishermen (excluding charter operators), the potential uses for the money include purchasing a new vessel, acquisition of vessel equipment and reconstruction with no increase in harvesting capacity.

The uses also include upgrades to improve collection and reporting of fisheries data, methods to reduce bycatch and adverse impacts of fishing gear, as well as ways to improve safety.

The program also can be used to refinance existing debt that originated from the above potential uses. Interested applicants or those with questions should contact Jim Plouffe at NOAA Fisheries financial services department at the Greater Atlantic Regional Fisheries Office in Gloucester’s Blackburn Industrial Park.

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