STATE OF NEW HAMPSHIRE

COMMERCIAL FISHERMAN’S REVOLVING LOAN FUND

 

 

The Revolving Loan Fund (RLF) Program has funds available for loans to qualified commercial fishermen.  Only those businesses and individuals directly or indirectly involved in the commercial fishing industry and whose economic base is located in the Counties of Rockingham or Strafford in the State of New Hampshire shall be eligible.

 

  • Maximum Loan Amount                       $150,000.00

                                                                        Successful loan applicants will secure two (2) loans

 

1)      The RLF portion is 75% but not to exceed

$112,000.00

2)      Citizens Bank portion is at 25%

 

  • Interest Rate                                         RLF portion @ 4% (75% of loan amount)

                                                                        Citizens Bank @ 2% above prime (25%

                                                                        loan amount)

 

Examples of Eligible Projects:

 

  • Alternative vocations for fishermen who wish to opt out of the fishing industry
  • Purchase of new or used vessels as allowed by State/Federal regulations.  Project cannot

increase effort on depleted stocks as determined by the RLF Committee

  • Re-power existing vessel(s)
  • Purchase of Federal Fisheries Permit(s)
  • Vessel repair work
  • Other projects that may be recommended by the RLF Committee and that fall within the

parameter of the Economic Development Administration (EDA) guidelines

 

For further information regarding the RLF Program, please contact:

 

G. Ritchie White, RLF Coordinator

(603) 964-2211 (home)

(603) 436-8500 (Division of Ports and Harbors)

(603) 436-2780 (fax)