The Harvester Enterprise Loan Program supports independent fish harvesters and builds on the old Fisheries Loan Guarantee Program with better loan terms and new features.  

Atlantic Edge Credit Union is committed to supporting local fish harvesters with financial services and advice built on honesty, fairness, and trust.

Loan Guarantee

This government-backed loan program helps harvesters with:

• Building, buying, or upgrading vessels.
• Merging enterprises and buying licenses.
• Refinancing loans from fish processors or banks for fixed assets or licenses. 

Down Payment Loans

These loans help meet down payment requirements for other loans. Borrowers need at least 10% down for vessels and 15% for other purposes. Support will be provided in the form of a secured loan of up to 15% of the total cost, with a maximum of $450,000 and a term of up to 20 years, to help meet down payment requirements. No interest or payments are due for the first five years.

Interest Rebates

Finance charges on guaranteed loans are set by the borrower and the lender, with a maximum of the bank prime rate (currently 7.2%) plus up to 2.5%. Rebates cover any interest over the prime rate, for up to five years.

Why Choose Atlantic Edge Credit Union?

At Atlantic Edge Credit Union, we offer: 

• Personalized Service: We take the time to understand your needs and offer tailored advice. 

• Trust and Honesty: Our members trust us to provide transparent and honest financial services. 

• Community Focus: As a co-operative, we are dedicated to supporting our members and their local communities. 

• Easy Access: Our lending professionals are readily available to assist you, ensuring a smooth and hassle-free process. 

How to Apply

To learn more about how to apply, click here.