Two U.S. senators have introduced legislation that would allow businesses in direct support of commercial fishing to access a federal agriculture loan program.
Under The Fishing Industry Credit Enhancement Act, introduced by U.S. Senator Angus King (I-Maine) and U.S. Senator Lisa Murkowski (R-Alaska), businesses such as cold storage providers and gear suppliers would be allowed to use the Farm Credit System (FCS), a nationwide network of lenders and financial service providers. The program is currently used by farmers, ranchers, farmer-owned cooperatives and other agribusinesses, rural homebuyers, rural infrastructure providers, and commercial fishermen.
“These reliable loans are huge economic drivers for rural communities, helping businesses invest in new expansions, hire more workers, or modernize operations,” King said in a statement…