Loan Scheme to Fishermen – Construction of Canotte

Maximum Loan Amount

Rs 300,000 and a Grant of Rs 300,000

Interest Rate

3% p.a

Moratorium Period

1 year moratorium

Repayment Period

Up to 7 years, including 1 year moratorium

Purpose of Loan

Purchase of fibre glass boat of above 7.0 metres and less than 12.0 metres in length equipped with either an inboard or outboard engine of 15 HP and above, safety equipment, life jacket for each person on boat, a set of 3 hand flares and radar reflector

Financing

90% of remaining cost of project up to a maximum of Rs 300,000
10% own funds

Eligibility

Registered Fisherman

Must be able to provide the evidence of the availability of funds in regards to contribution

Security

As per DBM Terms and Conditions

Downloads & Apply

Apply Online