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Murkowski Announces Federal Crab IFQ Loan Program is Accepting Applications

WASHINGTON, D.C. – U.S. Sen. Lisa Murkowski, R-Alaska, today announced that the National Marine Fisheries Service (NMFS) is accepting  applications for the Crab Individual Fishing Quota (IFQ) loan program, which was finalized in December 2010. The Bering Sea Aleutian Island Crab IFQ loan program will allow crab captains and crew to borrow up to 80 percent of the cost of purchasing Crab quota shares, or refinance an existing IFQ loan.  It is available to all former and current crab skippers and crewmen who meet eligibility requirements.

In the fiscal year 2010 budget, Murkowski provided the NMFS loan authority to lend up to $8 million for the crab IFQ loan program.

“I am pleased to see that the crab loan program is finally available for skippers and crewmen,” Murkowski said.  “They have been waiting a long time for this federal loan program that will assist them in purchasing crab quota shares.”

To request an application or receive more information on the crab loan program please contact the NMFS at (206) 526-6122 or by email  nw.finance@noaa.gov Fisherman can also mail requests for information or applications to:

National Marine Fisheries Service
Financial Services Branch
7600 Sand Point Way, N.W.
(BIN C15700), Bldg., #1
Seattle, WA 98115

Branch Chief: Scott Houghtaling, (206) 526-6126

There is not a website to submit applications.  All applications require original signatures so the applications need to be mailed in  Applicants can submit supporting documentation via e-mail, however, to the e-mail address provided above.

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