The Seafood Enterprise Assistance (SEA) Fund, is a loan program designed to support the specific needs of the commercial fishing industry with repayment terms that make sense for seasonality.
Who is eligible for the SEA Fund loan program?
Seafood industry small business and sole proprietors operating in Jefferson Parish
How much can I borrow?
Typical loan size is between $25,000-$150,000
What is the interest rate?
Interest rate is fixed and will be based on risk.
Minimum loan rate is 3.75%.
Maximum loan rate is 6.75%.
What can the loan be used for?
Business expenses such as the purchase or improvement of equipment
Can I use the loan to replace equipment lost in Hurricane Ida?
Yes, only if the loss is not covered by insurance and you have been denied a loan by FEMA and/or SBA
How do I apply for a JEDCO SEA Fund Loan?
Items needed for loan application packages are listed below. Your loan application package may be emailed to email@example.com.
Can I drop off my loan application package in person?
Yes! You may hand deliver your loan application package to JEDCO Offices, located at 700 Churchill Parkway, Avondale, LA 70094 on Monday-Friday, 8:30am-4:30pm. Please call ahead to verify that someone will be available to accept your loan package application. 504-875-3908.
What if I have additional questions about the loan program?
ITEMS NEEDED FOR SEA FUND LOAN APPLICATION PACKAGE:
Loan application form (Download here)
Personal financial statement
2 years personal tax returns
2 years business tax returns – if applicable