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Business Loans for Fishing Business Owners

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As the owner of a fishing business, getting a loan to support and fund your operation may present unique challenges. You may find that getting a fish on your line is much easier than obtaining business loans for fishing business needs. It pays to find a lender who understands the needs of your business and will work with you on terms that fit your cash flow.

You are not alone in your quest for that ideal lender that looks at your overall business potential and sees you, not a number. Those that own a fishing business are seen as a risk by the big banks. Your track record of success may not be enough to secure that loan, and if you do, you must worry that a few bad days of fishing will impact your ability to make your monthly payment.

The Banks View

According to, those who have businesses that are considered risky, like the fishing industry, or owners with poor credit scores, face incredibly rough waters when it comes to securing a loan from a bank.

It may seem nearly impossible to get approval to fund the things you need, such as:

  • New lines and equipment
  • The purchase or repair of your vessel
  • Fuel to keep you going through the season
  • Hired help to keep your business producing
  • Daily operation costs and supplies

But, just because the bank may see your industry as a risky investment, it doesn’t mean you can’t get the required funding. You may need to seek alternatives that have been created to assist small business owners like yourself facing today’s challenges.

Leave the intimidating bank criteria on shore and venture out to find a lender who sees you, what you have built and the potential your business has to offer. There are lenders that have loan products designed to fit your needs.

Small Business Administration (SBA) Loans for Fishermen

This government agency can connect you to loan programs specific to your industry. Keep in mind that this offering may vary depending on the state in which you live. The SBA does not lend money to you but serves to qualify your needs and creditworthiness and then connect you to one of their lending partners.

The SBA also offers some funding assistance grants, if you qualify. Fishing vessels are eligible. However, those seeking funds for the construction or reconditioning of vessels with a cargo capacity of five tons or more must first request financing from the National Marine Fisheries Service.

Credit Cards For Fishing Business

There are small business credit cards available to business owners to fund daily operations expenses and some basic purchases, but they usually come with a low limit to funds. It can be a fast funding option if you need cash quickly, but it may not answer to your overall needs.

Your interest rate will be based on your credit score and will probably be pretty high. Your monthly payment may remain unknown until you get that first bill, so if your business hits a slow period and you can’t make your payments, your credit score can be negatively affected.

Financing Fishing Businesses Through Alternative Lenders

Small business lending companies typically base approval on what actually matters, the overall health of your business and its potential, not your credit score. As an entrepreneurial business owner, they can help you get flexible funding (loans or lines of credit) and repayment options that fit your business income and limit risks.

According to, lines of credit are based, not on your credit score, but on a percentage of the value of your business (assets, inventory and accounts receivable).

With their small business loans, alternative lenders tend to strip away the intimidation and lengthy documentation requirements you would find elsewhere.

The application is simple and straightforward and the terms and repayment of the loan can be customized to fit your sales volume and the best-desired time-frame for your business. This limits your risk and is something you should seek from a lender.

Even if your business is new, this type of funding trusts in your ability to take this business and make it a success.

Immediate Financing For Your Fishing Business

Business loans for fishing business owners are not impossible to find – you just need to know where to look. If your need for capital is urgent, or you’d learn more about creative business funding options, contact Credibly today!

To see how much you pre-qualify for, complete our online request form. It’s free and easy and won’t hurt your credit.

What you should keep in mind when looking at loans for your fishing business.

What can I use a business loan for in my fishing business?

What can I use a business loan for in my fishing business?

Use loan funds to upgrade or purchase new fishing vessels and essential gear like nets, lines, and traps. Invest in modern navigation and fish-finding technology.

Loans can also fund sustainable fishing practices, ensuring long-term business viability. Additionally, they can cover costs for dock fees, storage, and processing facilities.

You can improve operational efficiency, support sustainable practices, and enhance profitability.

How can I apply for a loan with Credibly? How can I apply for a loan with Credibly?

Start your loan application online with Credibly. Click “Get Started” for a straightforward process. We strive for quick approvals, often within hours. Once approved, funds are typically available the same day.

This speed is vital for fishing businesses needing to quickly capitalize on opportunities or otherwise take care of business essentials.

What do I need to qualify for a loan with Credibly? What do I need to qualify for a loan with Credibly?

Begin by submitting your last three months’ business bank statements and complete an application. Our process caters to various credit scores.

Our team assists in understanding your options, with potential for quick funding, often within 24 hours.

Our team is committed to guiding you through the process, making sure you understand the various funding options available.

Why choose Credibly for your business loans? Why choose Credibly for your business loans?

Choose Credibly for rapid, tailored financing solutions, typically available within days.

Our U.S.-based support team is committed to guiding you at every step.

We offer competitive rates and flexible solutions, focusing on your fishing business’s potential. Our customer-centric approach provides more than just financial support; we aim to partner in your business’s growth and success.

What are some advantages of loans for fishing businesses? What are some advantages of loans for fishing businesses?

Loans empower fishing businesses to invest in better equipment, adopt sustainable practices, and improve overall operations. They enable businesses to respond to market demands, maintain competitive edge, and support expansion.

This financial leverage is crucial for adapting to the dynamic nature of the fishing industry and securing long-term business growth and sustainability.