How to apply for the vessel replacement loan

Steps to apply

1. 1

   Check that you qualify

   The programme is for fisherfolk who lost their vessel during Hurricane Beryl in July 2024. Grant-only support may be possible if the rest of your financing is already in place or your boat is already being rebuilt.

2. 2

   Get your NISSS clearance

   NISSS clearance (not just registration) is the key requirement. If you have arrears or were never registered, speak to NISSS early — individual arrangements can be made.

3. 3

   Get a builder's quotation

   Ask your boat builder for a written quotation. It must be less than three months old when you apply.

4. 4

   Gather your documents

   Collect everything on the checklist below so your application can be reviewed without delay.

5. 5

   Contact EGFL to apply

   Enterprise Growth Fund Limited (EGFL) handles applications, loans and financing. Contact them to submit your application and documents.

6. 6

   Site visit and screening

   EGFL and the Project's Environmental and Social Specialists visit your repair or building site. If any issues are found, they'll work with you and give you time to fix them.

7. 7

   Build and receive funds in stages

   Start-up funds help cover the builder's deposit and first materials. The rest is released in stages after marine surveyors check each stage of work.