The Financing Program for Commercial Fishing Vessel aims to provide credit assistance to existing and/or prospective commercial fishing operators in acquiring fishing vessels for domestic or overseas use in consonance with the policy of the government to liberalize vessel acquisitions.
Commercial Fishing with passive or active gear utilizing vessels 3.1 gross tons (GT) and up
Purchase/acquisition of brand new or second-hand/refurbished commercial fishing boats and related equipment
Up to 80% of acquisition cost
Fixed at 5% per annum (p.a.) for 3 years, subject to repricing thereafter based on market rate but shall not be lower than 5% p.a.
For all types of borrowers
1. Certificate of Registration with Department of Trade and Industry
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