Low-interest rate loans for NSW commercial fishers and aquaculture farmers

The Seafood Innovation Fund provides NSW commercial fishers and aquaculture farmers with low-interest rate loans to improve their business.

Overview

The Seafood Innovation Fund provides commercial fishers and aquaculture farmers with low-interest loans to:

• help them identify and address risks to their business
• improve permanent assets and infrastructure
• ensure long term productivity and sustainable use of the marine, estuarine and land-based environment.

The loans are intended to assist investment in the following key areas:

• preparedness – adaptability to changing seasonal conditionals or climatic events of floods or droughts
• environment – ensuring equipment has a minimal impact on the environment
• fishing and aquaculture farming equipment and assets – replacement of unsafe or inefficient assets
• transport and logistics – ensuring that product reaches markets in optimum condition.

Check if you can apply

To be eligible, you must be one of the following:

• a NSW aquaculture permit holder
• a NSW commercial fishing business owner or fishing licence holder
• a registered fish receiver.

You must also:

• be registered with the Australian Taxation Office and have an Australian business number (ABN)
• operate as a sole trader, partnership, trust or private company and trade NSW seafood products
• have gross non-business assets not in excess of $5 million
• be operating a viable business that has the capacity to repay the loan.