OCEANIC AND ATMOSPHERIC ADMINISTRATION, DEPARTMENT OF COMMERCE
U.S.C. 1271 et seq., 50 CFR 253.
direct loans for certain fisheries costs. Vessel financing available
for the purchase of used vessels or the reconstruction of vessels
(limited to reconstructions that do not add to fishing capacity).
Refinancing available for existing debt obligations. FFP loans are
not issued for purposes which could contribute to over capitalization
of the fishing industry. Finance or refinance fisheries shore side
facilities or Aqua cultural facilities. Provides Individual Fishing
Quota (IFQ) financing (at the request of a Fishery Management Council).
IFQ financing available at this time to first time purchasers and
small vessel operators in the Halibut Sablefish fisheries. Provides
financing for Community Development Quota groups fisheries investments
in the Bering Sea Aleutian Islands Pollock fishery. Provides long
term fishery buy back financing (at the request of a Fishery Management
Council or Governor) to purchase and retire fishing permis and/or
fishing vessels in overcapitalized fisheries.
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AND USE RESTRICTIONS:
loans for up to 80 percent of actual cost, for reconstruction or
reconditioning of fishing vessels and renovation, repair or construction
of fisheries shore side facilities (including aquaculture facilities).
Maximum maturity up to 25 years. Funds from this program are not
used for purposes which contribute to over capitalization of the
Eligibility: Applicant must possess the ability,
experience, financial resources, and other qualifications necessary
to operate successfully and repay the debt.
AND AWARD PROCESS:
Eligibility: Commercial fishermen, processors
or distributors of fishery products.
Financial statements, records, business history, and tax returns.
Coordination: This program is excluded from
coverage under E.O. 12372.
Procedure: Not applicable.
Procedure: Not applicable.
of Approval/Disapproval Time: Not applicable.
and Matching Requirements: Not applicable.
and Time Phasing of Assistance: Maximum term
is 25 years. Financing based on the economic useful life of the
Annual Financial Statements and associated financial information
In accordance with the provisions of OMB Circular No. A-133 (Revised,
June 24, 1997), recipients that are States, Local Governments,
Nonprofit Organizations (to include Hospitals), and Institutions
of Higher Learning shall be subject to the audit requirements
contained in the Single Audit Act Amendments of 1996 (31 U.S.C.
7501-7507). Commercial organizations shall be subject to the audit
requirements as stipulated in the award document.
Agency has the right to inspect all relevant financial documents
Direct loans: FY 01 $18,700,000; FY 02 est $19,000,000; and FY
03 est $19,000,000. IFQ financing: FY 01 $5,000,000; FY 02 est
$5,000,000; and FY 03 est $5,000,000. CDQ financing: FY 01 $0;
FY 02 est $0; and FY 03 est $0. Buyback financing: FY 01 $0; FY
02 est $50,000,000; and FY 03 est $0.
and Average of Financial Assistance:
$10,000 to $100,000,000. Average: $1,000,000.
Direct traditional loans: 20 loans for $18,700,000 and 45 IQF loans
for $5,000,000 were approved in fiscal year 2001.
GUIDELINES, AND LITERATURE:
50 CFR 253.
or Local Office: See Appendix IV of the Catalog.
Office: Michael Grable, Chief, Financial Services
Division, National Marine Fisheries Service, Department of Commerce,
1315 East-West Highway, Silver Spring, MD 20910. Telephone: (301)
713- 2390. Use the same number for FTS. Fax: (301) 713-1306. Email:
Site Address: http://www.noaa.gov
OF FUNDED PROJECTS:
FOR SELECTING PROPOSALS: