Aquaculture Loan Program

Loans are available to develop and sustain aquaculture for finfish, shellfish and seaplants.

The applicant must:

  • Be a Canadian citizen or a registered Nova Scotian company in good standing.
  • Show evidence of competency in aquaculture.

Financing is available for:

  • Salmonoid seed stock
  • Shellfish seed/spat
  • Collection materials, grow-out equipment and materials
  • Rafts, buoys, floatation devices, anchors, nets, cages for finfish grow-out, small boats, outboard motors and onboard gear handling devices
  • Purchase of existing operations

Note: Motor vehicles, real estate and feed are not eligible for financing.

General Information

  • Minimum deposit is 10 percent of requested loan amount.
  • Security: Chattel mortgage on equipment. Promissory note, personal guarantee and insurance on gear.
  • All loans are subject to an Administration Fee and a Personal Property Registration (PPR) Fee.
  • Interest rate is set quarterly but is fixed for term of loan.

Open Interest Rates

Effective July 1st, 2019 (applicable to loans approved on or after this date while these rates remain in effect)

Length (years) Full Term
1-5 4.05%
6-8 Engine 4.35%
6-10 4.55%
11-15 4.90%
16-20 5.15%
21-25 4.05%
26-30 4.35%

Closed Interest Rates


Length (years) Full Term *10 Yr Term *5 Yr Term *3 Yr Term
1-5 3.65% -- 3.65% 3.60%
6-10 3.75% 3.75% 3.70% 3.60%
11-15 4.10% 4.00% 3.75% 3.65%
16-20 4.40% 4.20% 3.75% 3.65%
21-25 4.60% 4.25% 3.80% 3.65%
26-30 4.80% 4.25% 3.80% 3.65%

* 3, 5 and 10 year term rates available to clients meeting risk, cashflow, and collateral requirements.


Click here for application and contact information


New Programs


Repayment schedule:

Finfish fry Upon harvest
Finfish - equipment 10 years maximum
Mussel spat Upon harvest
Mussel - equipment 10 years maximum
Oyster spat Upon harvest
Oyster - equipment 15 years maximum