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Harvester Enterprise Loan Program Open for Application Beginning July 16

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Harvester Enterprise Loan Program Open for Application Beginning July 16
July 11, 2024

FFAW has received confirmation that the Harvester Enterprise Loan Program will be open for application beginning next Tuesday July 16.

PLEASE NOTE:

➡ Loans are on a case-by-case, first-to-apply basis.

➡ Harvesters interested in applying for the Program should complete an application form that will be available on the IET website and contact their local financial institution to inquire about obtaining a loan to be guaranteed by the Province.

➡ The financial institution will subsequently coordinate the application with the Provincial Government regarding the loan guarantee, and IET will coordinate with the harvester directly regarding the down payment loan and interest rebate.

➡ Loans from CBDC, BDC, ACOA (anything federally funded) are not eligible for this program (i.e. refinancing).

➡ The down-payment loan only will be no interest, no payment for the first five years. Then the loan transitions to low interest (bank of Canada policy rate at date of application) for the term of the loan with the bank.

Additional information from our Program update on June 25 can be found HERE.

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Dr. Erin Carruthers

Dr. Erin Carruthers is the Science Director and Senior Fisheries Scientist with the Fish, Food and Allied Workers Union (FFAW-Unifor), which is the labour union that represents the owner-operator fleet in Newfoundland and Labrador. The FFAW is committed to research and management that supports healthy oceans, fisheries, and coastal communities. Dr. Carruthers received her Ph. D. in Biology from Memorial University in 2011 followed by a postdoctoral fellowship with the Centre for Fisheries Ecosystems Research. Before coming to Newfoundland, Erin worked as a Research Biologist with Fisheries and Oceans Canada at the St. Andrews Biological Station. Her current research program is co-constructed with fish harvesters and includes research on coastal fishing communities, collaborative longline and trap surveys, and best practices for the avoidance, handling and release of unwanted catch.