We are pleased to announce that Community Vision is the new administrator of the California Fisheries Fund (CFF), an award-winning loan fund that lends to borrowers involved in the West Coast fishing industry. CFF works with small businesses, including small-scale fisherman, fishing enterprises, and ports. The mission-focused program increases profitability, economic mobility, and stability for harbor communities and supports environmental conservation and sustainability efforts in the industry.
Launched in 2008 by the Environmental Defense Fund, the program has invested more than $4.8 million, ranging from $50,000 to $350,000 to California fishermen and fisheries-related businesses and nonprofits. CFF provides term loans and revolving lines of credit for:
- Gear purchases or modifications
- Vessel purchases or improvements
- Fishing permit or quota purchases
- Capital equipment upgrades for dockside infrastructure, processing capacity, and transportation
- Working capital for business growth
“Fishermen and women power the economy of harbor communities in this state. By lending for responsible fishing practices, this fund supports both economic opportunity and the health of our fisheries,” said Nate Schaffran, Community Vision’s manager of food and enterprise lending. “Those twin goals of equity and sustainability are at the heart of Community Vision’s work in our state’s food system.”
After exploring the unique needs of the agricultural communities we serve in the Central Valley and Central Coast, Community Vision ventured into food and agricultural lending more than seven years ago. Since then we have developed a lending strategy that spurs economic activity, supports business growth, increases employment, and promotes community development in low-income communities. In addition to CFF, Community Vision is also the administrator of the California FreshWorks program.
Stay tuned for additional program highlights and borrower stories on our website, social media, and monthly e-newsletter (sign-up below).