Tag Archives: Denny Morrow
Bigger loans, faster turn-around time, by loan board to help N.S. fishing industry and younger fishermen
The fishery industry in Nova Scotia is worth an estimated $2 billion annually and one important area that updated Fisheries and Aquaculture Loan Board regulations are putting a high value on is younger fishermen and new entrants. The updated regulations were announced in Yarmouth on Dec. 6 and include such things as reduced loan approval wait times and increasing lending limits from $1 million to $5 million. The goal is to expand options and to eliminate financial barriers that have prevented people – particularly younger fishermen – from taking a risk in seeking big loans to get into the sector and/or improve their enterprises. >click to read<19:40
Why is Ottawa drawing a blank on Georges Bank?
The productivity of this bank is witnessed by the largest year class of haddock (2010) that has been recorded in the last 50 years. You would think that governments responsible for managing this unique ocean area would want to protect it from . A blowout similar to the recent Deep Water Horizon disaster in the Gulf of Mexico would be devastating to many fishing communities in southwestern Nova Scotia and New England. Eighty per cent of Georges Bank lies in American waters. Read the rest here 11:30
