Fisheries Finance Program

 

Provides direct loans for certain fisheries costs. Vessel financing available for the purchase of used vessels or the reconstruction of vessels (limited to reconstructions that do not add to fishing capacity). Refinancing available for existing debt obligations. FFP loans are not issued for purposes which could contribute to over capitalization of the fishing industry. Finance or refinance fisheries shore side facilities or Aqua cultural facilities. Provides Individual Fishing Quota (IFQ) financing (at the request of a Fishery Management Council). IFQ financing available at this time to first time purchasers and small vessel operators in the Halibut Sablefish fisheries. Provides long term fishery buy back financing (at the request of a Fishery Management Council or Governor) to purchase and retire fishing permits and/or fishing vessels in overcapitalized fisheries.

Active 11.415 National Oceanic and Atmospheric Administration, Department of Commerce E - Direct Loans Not applicable. Merchant Marine Act, 46 U.S.C. 1271 et seq Applicant must possess the ability, experience, financial resources, and other qualifications necessary to operate successfully and repay the debt. Commercial fishermen, processors or distributors of fishery products. Financial statements, records, business history, and tax returns. Preapplication coordination is required. This program is eligible for coverage under E.O. 12372, "Intergovernmental Review of Federal Programs." An applicant should consult the office or official designated as the single point of contact in his or her State for more information on the process the State requires to be followed in applying for assistance, if the State has selected the program for review. Refer to program guidelines 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Not applicable. Not applicable. Not applicable. Not applicable. Not applicable. Not applicable. Not applicable. Direct loans for up to 80 percent of actual cost, for reconstruction or reconditioning of fishing vessels, renovation, repair or construction of fisheries shore side facilities, (including aquaculture facilities) and financing and refinancing the cost of certain IFQs. Maximum maturity up to 25 years. Funds from this program are not used for purposes which contribute to over capitalization of the fishing industry. Not applicable. Not applicable. Agency has the right to inspect all relevant financial documents and records. Statutory formula is not applicable to this assistance listing.

Matching requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing. Maximum term is 25 years. Financing based on the economic useful life of the asset financed. Funds are released or reimbursed as agreed upon in the Standard Terms and Conditions required for each grant. None/Not specified. Leo Erwin
Financial Services Division, National Marine Fisheries Service, Department of Commerce, 1315 East-West Highway
Silver Spring, MD 20910 US
leo.erwin@noaa.gov
Phone: 3017132390
Fax: 3017131306 https://www.greateratlantic.fisheries.noaa.gov/mediacenter/2016/march/29_noaa_now_accepting_applications_for_fisheries_finance_program.html 13-1456-0-1-376 (Direct Loans) FY 22$0.00; FY 23 est $0.00; FY 24 est $0.00; FY 21$7,033,178.00; FY 20$6,357,566.00; FY 18 est $0.00; FY 17 est $100,000,000.00; FY 16$0.00; - We are keeping this listing open in the event there are funds available in FY24. If there aren't funds in FY24, we plan on archiving this listing next year. Not applicable/available. 50 CFR 253. Not applicable.