June 6, 2023 — 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.