Financing major assets in the fishing industry can be a challenge, especially when private lenders don’t cover the full cost of a vessel, engine upgrade, or licence purchase. For commercial fishing businesses in New Brunswick, the Fisheries Loan and Loan Guarantees program helps bridge that gap. Delivered by the Department of Agriculture, Aquaculture and Fisheries, this initiative works alongside traditional lenders to make larger, long-term investments more achievable for viable fishing operations.
The program supports a wide range of capital needs tied directly to operating and growing a fishery. This can include purchasing a new or used vessel, investing in engines or specialized equipment, completing major repairs, or securing a commercial fishing licence or quota. Rather than replacing bank financing, the department acts as a complementary lender, offering either direct loans or loan guarantees when private financing alone isn’t sufficient. Loan amounts and interest terms are tailored to the project, with repayment structured around the business’s expected cash flow.
The program is particularly relevant for established operators planning their next investment, as well as newer entrants to the fishery who may qualify for more flexible terms as they build equity. With no application fee and a strong focus on long-term viability, this financing option can play a key role in succession planning and industry renewal. Exploring the full details can help determine how this support fits into your fishing business plans.
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