COVID-19: Fisheries Interest Relief Program

Provided by: Finance PEI

Service Description

Provides reimbursement to eligible PEI fish harvesters for interest incurred on term debts that were in place with their financial institutions on or before May 1, 2020 and who can demonstrate a 30% loss in revenue for the 2020 fishing season.

Fish harvesters with loans through Finance PEI who demonstrate a 30% loss in revenue in the 2020 season can also apply for relief in the form of principal payment deferral for the same 12 month period. (May 1, 2020-April 30, 2021)

Information

Eligibility:
Applicants must either have a term debt with their financial institution related to their fishery operation OR be a fishery sector business that has an existing loan with Finance PEI, and must:
-Operate a business in PEI in one of the fishery sectors listed on the program website
-Be able to demonstrate a 30% loss in revenue for the 2020 fishing season
-Have a good credit rating and not have defaulted on any outstanding debt obligation on file in the provincial central default registry

Note: Revolving credit/lines of credit are not eligible.
Fees:
No fees
How to Access:
Visit website to apply online at the end of your fishing season * If you/your business fishes multiple species, wait to apply until the 2020 season is finished for all of the species you fish
Documents Required:
Documentation to validate eligible debt * See website for details
Program Hours:
24/7 website
Language:
English
Coverage Area:
Prince Edward Island

Service Locations & Contact Info