Maryland Commercial Oyster Harvester Disaster Relief Loans
Through its new Maryland Seafood Industry Financial Assistance Fund, MARBIDCO is offering zero-interest disaster relief loans to help commercial oyster harvesters who are struggling financially due to poor market conditions, bad weather, and environmental calamity. MARBIDCO has $3 million available to lend.
Borrowers who are experiencing particularly difficult financial challenges should consider applying right away. Checks for eligible applicants will begin being distributed in early July.
Overview
This fund allows MARBIDCO to offer zero-interest loans to eligible Maryland commercial oyster harvesters to cover personal and business expenses related to oyster harvesting. All borrowers will receive the same loan amount, which will be determined by dividing the total amount of available funding by the total number of eligible applicants, up to a ceiling of $10,000. If total demand exceeds available funding, loan amounts will be prorated, and the borrower will receive his or her proportionate amount.
Example: If 400 eligible applications are received, the loan amount per applicant would be approximately $7,500. If 750 eligible applications are received, the loan amount would be around $4,000.
Information on the final loan amount will be posted on the website by June 18, 2026.
Eligibility
Must be a Maryland resident and hold a valid Tidal Fisheries License (TFL) from the Department of Natural Resources (DNR) or hold a Potomac River Fisheries Commission (PRFC) Commercial License for oyster harvesting.
Must have harvested oysters during the 2025-2026 season, as demonstrated on harvest reports.
Must have paid all applicable surcharges or fees to harvest oysters between October 2025 and April 2026
Must have submitted all required oyster harvest reports to the DNR or PRFC, as verified by these agencies, by the deadline required by these agencies.
Loan Terms and Conditions
Maximum loan amount: $10,000. The loan is subject to proration if the program is oversubscribed.
Interest rate: 0.00%.
Repayment begins February 1, 2027.
Equal quarterly principal payments over 10 quarters.
No collateral required.
Loan Forgiveness
A dollar amount equivalent to the final two quarterly payments will be forgiven for good repayment performance.
Loan Delinquency
All loans must be repaid in accordance with the terms of the written loan agreement.
Borrowers who are more than 90 days late on their quarterly payments will lose eligibility for loan forgiveness and will owe the entire balance due, plus any late fees and default interest.
MARBIDCO will notify DNR if a borrower who holds a TFL is more than 90 days late in making his or her quarterly payment.
Once notified, DNR may not approve a transfer of the TFL or authorization until MARBIDCO notifies DNR that the borrower has met their debt obligation.
Application Deadlines and Submission
Electronic applications are preferred. For urgent needs, apply early as loan documents will be released in order received and funds will be released in the order the loan documents are received.
Email Applications: Submit by June 12, 2026, by the close of the day.
oysterloans@marbidco.org
Mailed Applications: Must be postmarked by June 8, 2026
Mail to:
MARBIDCO – Oyster Relief Loans
1410 Forest Drive, Suite 21
Annapolis, MD 21403
Applications received after June 12, 2026, will be processed only if funds remain. No applications will be accepted after June 26, 2026.
Funding Distribution: Loan documents and funds issued no earlier than July 1, 2026.
Questions?
📞 410-267-6807
📧 oysterloans@marbidco.org
Maryland Commercial Oyster Harvester Disaster Relief Loan Application – Frequently Asked Questions (FAQ)
What is the purpose of this loan program?
This zero-interest loan program is designed to provide disaster relief to eligible Maryland commercial oyster harvesters to cover personal and business expenses.
When is the application deadline?
The application deadline is June 12, 2026, for electronic submissions and postmarked by June 8, 2026, for applications mailed in. Early submission is encouraged.
What happens if I miss the deadline?
Late applications may be considered until June 26, 2026, but only if funds remain available. If you miss the deadline, please contact our office to determine if funds are still available or if late applications can be considered. Absolutely no applications will be accepted after June 26, 2026.
Who is eligible to apply?
Eligibility is outlined in the application materials. To be eligible, the applicant
· Must be a Maryland resident and hold a valid Tidal Fisheries License (TFL) from the Department of Natural Resources (DNR) or Potomac River Fisheries Commission (PRFC) Commercial License for oyster harvesting.
· Must have harvested oysters during the 2025-2026 season, as demonstrated on harvest reports.
· Must have paid all applicable surcharges or fees to harvest oysters between October 2025 and April 2026
· Must have submitted all required oyster harvest reports to the DNR or PRFC by the agency’s required deadline, as verified by these agencies.
Can current MARBIDCO borrowers apply for this loan?
Yes, current borrowers may apply, subject to the loan program guidelines and approval requirements.
How much loan funding can I receive?
MARBIDCO has a total of $3 million available. The amount that each applicant receives will be the same and will depend on the number of applications received. Eligible applicants will receive a prorated loan amount, not to exceed $10,000.
Example: If 400 eligible applications are received, the loan amount per applicant would be approximately $7,500. If 750 eligible applications are received, the loan amount would be $4,000.
When will I know if I am awarded funding?
The application period runs from May 18 to June 12, 2026. The final loan amount for each borrower will be posted on MARBIDCO’s website on June 18th. Applicants will be notified if their application is incomplete or ineligible. Otherwise, beginning July 1, 2026, early applicants will begin receiving their loan documents with instructions on how to proceed. It is anticipated that this process will take several days to a few weeks to complete, so please be patient. MARBIDCO is aiming to notify all eligible applicants by August 1, 2026, or shortly thereafter.
What if, after seeing the final loan amount, I am no longer interested in receiving the loan?
Please let our office know in writing, preferably via email, by June 23, 2026, that you would like to withdraw your application.
When do loan repayments begin?
Repayment terms will be outlined in your loan agreement. Payments begin on February 1, 2027, followed by an additional nine quarterly payments, with the possibility of some loan forgiveness for good performance. (See below.)
Is some loan forgiveness available for good performance?
Yes, MARBIDCO will forgive a certain dollar amount equivalent to the final two quarterly loan payments based on good repayment performance. However, borrowers who are more than 90 days late in making their normal quarterly payments will lose their eligibility for loan forgiveness and will also owe the entire balance due, plus any accrued late fees and default interest charges.
Can I pay off my loan early?
Yes, early repayment is permitted. You can contact the MARBIDCO Office for the balance due on your loan.
What happens if I can’t make my loan payments on time?
Please contact the MARBIDCO Office sooner rather than later if you are having trouble making your loan payment as scheduled. As stated above, if a loan payment is more than 90 days late, a borrower will lose their eligibility for the loan forgiveness for good performance. In addition, MARBIDCO is required to notify DNR of this development. Once DNR is notified, DNR may not approve a transfer of the Tidal Fish License (TFL) or a related authorization until MARBIDCO notifies DNR that the borrower has become current on his or her loan payments.
Who should I contact with questions?
Please contact the MARBIDCO Office directly for assistance with your application or any program-related questions, by phone at 410-267-6807, or by email at oysterloans@marbidco.org. dco.org.