Alaska Fish Factor: New lender offering loans to young Alaska fishermen
March 21, 2019
”A new lender is offering loans to young Alaska fishermen who want to buy into the halibut and sablefish fisheries, and repayment is based on their catches.
The Local Fish Fund opened its doors this month to provide alternative loan structures to young fishermen as a way to help turn the tide on the trend called the “graying of the fleet.” The average age of an Alaska fisherman today is 50 and fewer recruits are choosing the fishing life.
A big part of what’s turning them away is the cost to buy into fisheries that are limited through permits, or in the case of halibut, catch shar...