COVID-19: Fisheries Emergency Loan Program

Provided by: Finance PEI

Service Description

Provides repayable loans of up to $25,000.00 to assist applicants who own eligible fisheries operations in PEI. Loans can be used to cover the following types of non-deferrable business expenses:
  • Payroll
  • Rent
  • Utilities
  • Insurance
  • Property tax
  • Regularly scheduled debt services
Further details about the types of expenses NOT eligible under this program as well as details about the exact terms of the loan, such as interest and repayment details, can be found on the program website.

Information

Eligibility:
PEI residents who operate a fisheries business in an eligible sector (see website for full list) * Must NOT be in the process of receivership under Canada's Bankruptcy and Insolvency Act or have been so in the past * Must have a satisfactory credit rating and not defaulted on outstanding debts on file in PEI's Central Default Registry
Fees:
Must agree and meet terms of loan repayment
How to Access:
Visit website to submit online application form
Documents Required:
Completed application form * Current Statement of Personal Financial Affairs Form for all shareholders and any proposed 3rd party guarantors * Fishers statement from processor/buyer for 2019 and 2020 if applicable * Interim income and expense statement for the current year to date * Pre-Authorization for Credit Transactions (form available online) including a company void cheque or direct deposit banking information
Program Hours:
24/7 online application form
Language:
English
Coverage Area:
Prince Edward Island

Service Locations & Contact Info