Aquaculture loans are available to build your business. We are here to support you in starting, expanding or purchasing an aquaculture business. We tailor loans to match the cycles of your business. We understand what it takes to make your business grow.
This product is designed for development of aquaculture where a long-range approach to cash flow generation is required. For example, most new shellfish projects will not see cash flow generation for 4 years from start-up.
In these situations, we will consider applications for interest only payments with a final repayment when the product is sold. This loan could, for example, be amortized over 4 years, with a full and final payment at in the final year.
Since farmed finfish typically can be sold sooner than shellfish, we can reduce the time lines of repayment so that it matches your income stream.
The Aquaculture Loan product is typically secured by the assets you are acquiring. For instance, if you are purchasing seed stock, the swimming inventory can be pledged. Or, if you are purchasing cages and equipment, those items may be pledged.
The Security takes the form of a General Security Agreement over personal property. A Collateral Mortgage, or Continuing Collateral Mortgage is used in the case where real estate is required.