The HSQS program provides long-term loans to individual fishermen for the purchase or refinancing of Alaska Halibut and Sablefish Quota Shares (IFQ). The loan amount cannot exceed 80% of the purchase price. Loans are long-term, fixed rate with interest rates 2% over the U.S. Treasury’s cost of funds. Loan maturities are up to 25 years. Loans cannot extend a borrower beyond 50,000 lbs. of quota shares. Applicant must be a U.S. citizen with a good earnings record, net worth and liquidity. The applicant must have or be able to obtain a Transfer Eligibility Certificate (TEC), cannot own more than 50,000 lbs. of quota shares and cannot own a vessel larger than 60 feet LOA.
Contact Information
NOAA Financial Services Branch, NW Region
7600 Sand Point Way NE
BIN C15700, Bldg 1
Seattle, WA 98115
Email: NW.Finance@noaa.gov
PH: (206) 526-6122
FX: (206) 526-6306
