Maryland Agricultural & Resource-Based Industry Development Corporation
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Maryland Remote Setting Shellfish Aquaculture Loan Program

To apply, see the Applications page.


The Maryland Department of Natural Resources (DNR) has formed a partnership with MARBIDCO to provide affordable financing to commercial watermen who want to start or expand shellfish remote setting aquaculture operations. The University of Maryland Extension (UME) is also contributing to this effort by providing training and business planning assistance to current and prospective shellfish growers.

Remote setting is a process for growers to produce seed oysters for aquaculture cost-effectively. The grower purchases larvae from a hatchery and places it in a tank containing cultch for the larvae to set on. Larvae are circulated through the tank to keep them in suspension while they cement themselves to the cultch and begin growing as spat. Spat on shell setting systems consist of a tank, pump, piping and valves, and a blower to provide low pressure air to circulate larvae during setting. A heater may be required during early or late season setting. Cultchless setting systems are smaller and contain microchips, or small ground shell pieces, and are used to produce seed for contained aquaculture systems such as cages or floats. These are operated as downweller systems and require a pump, piping and valves, and blower. Information on setting system design and operation, as well as training in their use and business planning assistance, is available from University of Maryland Extension.

Eligible Expenses: Items related to commerical remote setting aquaculture projects, with approved business plans, to raise oysters or clams in Maryland including the following equipment items: seed (larvae), shell (substrate), tanks, pumps, blower, values and tank heaters.
Minimum/Maximum Loan Amounts: $5,000 to $30,000
Loan Terms: $5,000 - $15,000 (5 years); and $15,001 - $30,000 (6 years) - with the first year interest-only).
Loan Interest Rate: 5% APR
Loan Application Fee: None
Security: Cash Collateral of 15% is needed (and can be financed)

To apply, see the Applications page.


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MARBIDCO Loan Programs

Maryland Resource-Based Industry Financing Fund Loan (MRBIFF)

Maryland Vineyard Planting Loan Fund (MVPLF)

Rural Business Equipment and Working Capital Fund Loan (RBEWCL)

Forestry Equipment and Working Capital Loan Fund (FEWCL)

Rural Business Energy Efficiency Improvement Loan Fund (RBEEIL)

Maryland Shellfish Aquaculture Loan Fund (MSAL)


Business Planning Template

 

 

   
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