California Fisheries Fund

Project Summary

The California Fisheries Fund (CFF) was established in 2008 to provide a stable, accessible source of capital to support California’s evolving harbor communities. Administration of the fund has transitioned from the Environmental Defense Fund to California FarmLink.

CFF is a revolving loan fund that supports sustainable commercial fisheries in California. It’s mission is to help borrowers succeed in fisheries that achieve environmental conservation, improved profitability for the industry, and stability for port communities. CFF loans enable improved scientific information, enhanced stewardship of fish stocks and habitats, better fishery jobs, improved profitability, and revitalized, sustainable coastal communities.

CFF provides loans to California fishermen, seafood businesses, ports and communities to support sustainable commercial fishing. The Fund was developed in response to the lack of traditional capital available for financing improvements in fishery management, processing, and marketing that, in turn, could enhance conservation, profitability, and viability of fishing communities. Historically, banks and credit unions have been mostly unwilling to provide loans to commercial fishermen due to the potential for marginal profits and the general unpredictability of the fishing industry representing a higher risk of supporting fishing communities through loans. The CFF model is unique in that is allows fishermen to use fishing boats, permits and Pacific groundfish quota as collateral. This allows for the use of a powerful new asset that can be securitized in order to access capital supporting both environmental and economic benefits.

The following are example uses of loan funds:

Business Startup Expenses
Vessel purchase
Vessel/gear upgrades
Purchase of fishing permits
Working capital
Non-vessel equipment
Dockside infrastructure
Purchase or lease of Pacific groundfish quota

Please visit the California FarmLink website for more information if you are interested in applying for a loan.

Grant Administrator Timeline:

September 2021 – May 2034 (California FarmLink)

May 2018 – September 2021 (Northern California Community Loan Fund)

October 2007 – May 2018 (Environmental Defense Fund)

Grant Amount:

$1,162,784 (February 2022 reauthorization)

$1,356,198 (January 2018 reauthorization)

$2,000,000 (March 2007 authorization)

Funding Source: Proposition 84

Background

California Ocean Protection Act (COPA) states that monies deposited in the Ocean Protection Trust Fund may be expended to foster sustainable fisheries through “the creation of revolving loan programs for the purpose of implementing sustainable fishery projects” (COPA Section 35650 (b)(C)(v)). The California Fisheries Fund directly fulfills this purpose.

Kelp Rockfish (Michael Job)

About the CFF Administrator: California FarmLink is a Community Development Financial Institution investing in the prosperity and well-being of farmers, ranchers, and fishers who have limited access to financial resources. Our programs center communities of color, and promote just and resilient economies and natural resource conservation. FarmLink offers fair financing, business education, and support for owning or managing agricultural land.

Relevant Links

Return to Sustainable Fisheries homepage