Federal Bill Would Increase Loan Access to Businesses Helping Fishing Operations
Legislation introduced in Congress in early June would allow businesses providing direct assistance to fishing operations, including gear producers and cold storage, to access the same loans from the Farm Credit System (FCS) already offered to land-based farmers and ranchers.
“The Fishing Industry Credit Enhancement Act is a straightforward, common-sense amendment to the Farm Credit Act of 1971 ensuring businesses that support Alaska’s fishing industry – our ranchers of the sea – have the same financing opportunities as businesses supporting our land-based farmers and ranchers,” said Sen. Lisa Murkowski, R-Alaska, who introduced the bill with Sen. Angus King, I-Maine.
The Fishing Industry Credit Enhancement Act would allow fishing-support businesses to access the loans of the Farm Cred...