Commercial Fisheries Revolving Loan Fund

Massachusetts groundfish sector fishermen may be eligible to participate in the Division of Marine Fisheries (DMF) Revolving Loan Fund Program.

In 2012, DMF partnered with NOAA Fisheries to develop a Revolving Loan Fund (RLF) Program to preserve fishing opportunities for small-scale fishermen struggling through the transition to catch share management in the groundfish fishery. The RLF provides short-term loans to qualified active sector groundfishermen.

In 2016, DMF expanded the RLF to include a Revolving ACE Leasing Fund (RALF) Program. The RALF  allows Gloucester-based sectors to administer funds for groundfish quota leasing. 

Am I eligible to participate in the RLF/RALF?

To ensure funds are used as intended, applicants must meet all of the following criteria:

  • Resides in Massachusetts and/or homeports vessel in Massachusetts
  • Owns and operates a groundfish vessel enrolled as active in a sector
  • Owns three or fewer active groundfish vessels
  • Has reported non-zero groundfish landings for the year prior
  • Has a fishing trip duration of no more than 3 days (72 hours) for the previous year
  • Has no outstanding fishing violations from the previous three years

How do I apply?

DMF has partnered with two local lending institutions to administer RLF loans. Contact an approved lender based on your homeport and/or county of residence for further information and loan application:

Cape Cod & Islands

Community Development Partnership

3 Main St. Mercantile, Unit 7

Eastham, MA 02642

Contact: Ann Robinson, Director of Economic Development

Metro Boston & South Shore*

Tremont Credit Union

150 Grossman Dr.

Braintree, MA 02184

Contact: Michael Lemelin, Senior Vice President of Lending

*TCU membership open to members of Massachusetts Fishermen's Partnership

North Shore

North shore groundfishermen active in Northeast Fishery Sector II should contact their sector manager for more details on quota leasing through the Revolving ACE Leasing Fund Program (RALF), a sub-program of the RLF. DMF is working with additional Gloucester-based sectors to administer additional RALF funds. 


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