Aquabusiness

Financing Is Difficult, But Some Financial and Other Assistance Is Available From USDA Gao ID: T-RCED-94-62 November 10, 1993

Although little quantitative data exist on the availability of financing for aquaculture, lenders, producers, and Agriculture Department (USDA) officials told GAO that financing is often hard to get, mainly because emerging industries are perceived as inherently risky. As with other risky agricultural operations, aquaculturalists can turn to the Farmers Home Administration (FmHA) for credit. FmHA has made nearly $38 million in aquaculture loans since October 1990. USDA provides other types of assistance as well, including research, information services, and export promotion. In fiscal year 1993, USDA budgeted more than $24 million for these activities. Yet some people GAO spoke with claim that USDA's current services may not be meeting the unique or most urgent needs of the industry.



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