The Fisheries Investment Scheme (FIS) is a Comhairle-funded scheme supported by Western Isles Fishermen’s Association (WIFA).
Loan Terms
Funding: Up to £100,000 for the purchase of fishing vessels of less than 24 metres in overall length, equipped to go fishing at sea, up to 30 years old. For other projects, loan finance of up to £10,000 with a minimum loan of £2,000.
Repayment Period: Up to 10 years for the purchase of fishing vessels of less than 24 metres in overall length, equipped to go fishing at sea, up to 30 years old. For other projects, maximum repayment term is 5 years.
Interest: Commercial rates apply.
Funding: Up to £100,000 for the purchase of fishing vessels of less than 24 metres in overall length, equipped to go fishing at sea, up to 30 years old. For other projects, loan finance of up to £10,000 with a minimum loan of £2,000.
Repayment Period: Up to 10 years for the purchase of fishing vessels of less than 24 metres in overall length, equipped to go fishing at sea, up to 30 years old. For other projects, maximum repayment term is 5 years.
Interest: Commercial rates apply.
Security: Marine mortgage.
Capital Repayment Holiday: Discretionary – up to 6 months in exceptional circumstances.
Arrangement Fee: All Comhairle legal costs involved in registering the loan must be met by the applicant.
