MA to Offer Sector-Transition Loans to Fishermen

Commercial Fishing Vessel, photo/USCG/Dann Blackwood.

The Patrick-Murray Administration announced [January 31] that Massachusetts is creating a new Commercial Fisheries Revolving Loan Fund (RLF)—the first of its kind in New England—designed to help bridge the gap for commercial fishermen as they transition to the new sector management program for groundfish.

“Massachusetts has a proud tradition of commercial fishing, and these direct loans will help preserve the economic viability of our fishing ports and communities,” said Governor Deval Patrick. “I thank NOAA and the National Marine Fisheries Service for these funds to help ease this transition.”

Additional information:

Mass.Gov: Marine Fisheries

Official Press Release

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