Tag Archives: Fisheries and Aquaculture Loan Board
N.S. fisheries loan board sees big demand from new entrants
A rising tide of seafood exports coupled with the retirement of older workers has more young people casting a line into the fishing industry, according to the acting chair of the Nova Scotia Fisheries and Aquaculture Loan Board. Bob Verge was part of a group who appeared before the legislature’s public accounts committee on Wednesday to discuss the most recent reports from the fisheries and farm loan boards. Nova Scotia exported $2.5 billion in seafood in 2021, an increase of 21 per cent from five years ago, deputy fisheries minister April Howe told the committee. Figures from the loan board show just how many new people are trying to reel in a piece of that seawater-soaked pie. >click to read< 19:29
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
Nova Scotia Fisheries and Aquaculture Loan Board has called the loans for three different fishing vessels
On Nov. 25, three statements of claim were filed in Federal Court. One claim is against a Barrington-based vessel called the Fall Harvest, owned by Crystal Larkin, Donna Larkin and Alexander Malone. The statement of claim said they took out a loan in 2009 which was due on Nov. 23, 2015. The documents say the loan board is owed $194,775.12, plus interest. Another claim involves Shawn Boudreau of Arichat and KAOS Fisheries Limited, the owner of the vessel Major KAOS. Read the article here 08:59
