Maryland Shellfish Aquaculture Loan Program

The Maryland Department of Natural Resources (DNR) has formed a partnership with the Maryland Agricultural and Resource-Based Industry Development Corporation (MARBIDCO) to provide affordable financing to watermen and other parties who want to start or expand commercial shellfish aquaculture operations in Maryland. The loans are priced at a fixed annual interest rate not to exceed 4.5%. The demand for funding is expected to exceed available financial resources in the short-term. Therefore, MARBIDCO and DNR intend to give priority to applicants who will begin shellfish production operations in 2011. Those who plan shellfish production operations next year must hold a DNR shellfish aquaculture lease.