Estonian fishing industry businesses to receive loans from EMFF funds
The Estonian Rural Development Foundation will begin issuing loans from European Maritime and Fisheries Fund (EMFF) capital for fishing industry businesses in January.
New and established fish processing micro- and small businesses will be given growth loans ranging from 10,000 to 100,000 euros in size per applicant and with a loan repayment period of up to five years, reported regional paper Saarte Hääl (link in Estonian).
New and established fish processing businesses will be given long-term investment loans ranging from 100,000 to 500,000 euros in size per applicant and with a loan repayment period of up to 15 years.
The initial planned volume of the financial instrument directed toward businesses involved in fish processing is 7.2 million euros, while the planned total volume of the EMFF financial instrument for the 2014-2020 period is 15 million euros.