Buying a commercial fishing licence in Nova Scotia can cost hundreds of thousands of dollars. For new and returning fishers, that price alone can block entry into the industry. The Nova Scotia Fishing Licence Loan Program helps by financing up to 95% of eligible costs through a repayable provincial loan.
The Fishing Licence Loan Program is run by the Nova Scotia Department of Fisheries and Aquaculture. It provides repayable loans to help fishers enter, re-enter, or diversify within the commercial fishing industry.
This is not a grant. It is a government-backed loan designed specifically for fishing licences and related assets. The loan terms are tailored to the realities of seasonal fishing income.
The program can finance:
Funding can cover up to 95% of total eligible project costs. You typically need to contribute at least 5% yourself.
Eligibility focuses on people actively working toward a commercial fishing operation in Nova Scotia.
You may be eligible if you are:
The program is aimed at owner-operators, not passive investors. You should be prepared to show that you have the skills, experience, or training needed to fish the licence you are purchasing.
There is no single dollar cap listed publicly. Instead, funding is based on a percentage of your project costs.
Licence prices can be very different depending on the species and the region. Because of this, approved loan amounts are assessed on a case-by-case basis.
Loan terms are designed to fit the seasonal nature of fishing income. Repayment schedules are set according to your projected earnings and business plan. You must be prepared to make regular payments, even during slower fishing months. Failing to keep up with the repayment schedule can affect your eligibility for future government support.
You need a clear plan for:
Licence availability and transfer rules are set federally, so make sure the licence is eligible for transfer before applying.
You will typically need:
You can use GrantHub to quickly find fisheries funding programs in your province.
Applications are submitted through the Nova Scotia Fisheries Loan Board system. The program is currently open, but intake periods can change without notice.
Loan officers may request additional information before approval.
Your application is assessed based on:
If approved, you will receive loan terms outlining repayment schedules and conditions.
Assuming this is a grant
This program is fully repayable. You must budget for loan repayments, even in slow seasons.
Applying without licence transfer clarity
If the licence cannot legally be transferred to you, the loan will not proceed.
Underestimating total costs
Gear, vessel upgrades, and insurance may not all be covered. Be clear about what the loan includes.
Weak cash flow planning
Seasonal income matters. Applications with unrealistic revenue projections are often delayed or declined.
Q: Is the Nova Scotia Fishing Licence Loan Program a grant or a loan?
It is a repayable loan, not a grant. You must repay the borrowed amount under agreed terms.
Q: Can I use the loan to buy fishing gear as well as a licence?
Yes. The program can cover a licence and associated gear, as long as both are part of the approved project.
Q: How much funding can I receive?
The loan can cover up to 95% of eligible project costs. The final amount depends on your project and financial assessment.
Q: Can I apply if I am re-entering the fishing industry?
Yes. The program explicitly supports fishers who are re-entering the industry.
Q: Can this loan be combined with other funding programs?
Possibly. Loan stacking depends on the rules of other programs and your overall financing structure.
GrantHub tracks hundreds of active grant and loan programs across Canada. Check which ones match your fishing business profile.
The Nova Scotia Fishing Licence Loan Program can make licence ownership possible, but approval depends on preparation and fit. Before applying, confirm your licence details, costs, and repayment plan. GrantHub helps you compare this loan with other fisheries funding options in Nova Scotia, so you can plan with confidence and avoid missed opportunities.
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