Discussions > Financing package for fishermen to purchase fuel-saving trawl equipment - Deadline Oct 31st

Recognizing that times are difficult, The Gulf of Maine Research Institute has been working with Coastal Enterprises Inc. to develop an innovative, highly flexible, and low interest financing package for fishermen to purchase semi-pelagic doors and a fuel flow meter. Several fishermen are currently using these doors to save fuel, and a recent study by GMRI recorded a fuel saving of just over 10% compared to bottom tending doors. A particularly noteworthy condition of this package is that repayments are capped at 10% of each fisherman’s annual fuel cost. This means that repayments are made using money saved through the lower consumption of fuel. Repayments can also be adjusted to reflect difficult times, and early or additional repayments can be made with no penalty. This finance is made available by Coastal Enterprises Inc.

For each fisherman that signs up for this opportunity, they will be provided a $2,000 rebate to spend at their discretion. This rebate is provided by the Alex C. Walker Foundation and GEARNET.

Please note that the purchase of trawl door sensors can also be included in this package.

If you are interested in learning more about this opportunity please contact Steve Eayrs at GMRI before October, 31st, 2012 at 207 228 1659.

October 25, 2012 | Unregistered CommenterSquid Trawl Network