Fish farm construction is emerging as the fastest growing sector as far as animal food production is concerned. National bank of agriculture and rural development, which is a government setup financial institution for the support and to promote rural development and sustainable agriculture in the country.
Aquaculture which comprises breeding and raising of fishes in an enclosure refers to as fish farming. These fishes are sold as food and in current times, fish farming is emerging as the fastest growing sector as far as animal food production is concerned. Fishes alone from sea and rivers are not enough for human consumption and half of the consumed fish all over the world are raised in these unreal environments. Most common farmed fish varieties include salmon, halibut, cod, tuna and trout.
Considering the high demands for fish, construction of a fish farm business should be a better stance in the economic development of a country. Right now, fish farming is not limited to only fishermen and the people from the coastal regions, but many businessmen and entrepreneurs from all sorts of sectors are diving into the fishery sector of the country. New technologies such as aquaponics and tank fish breeding have made it easy for us to start fish farming in the littlest of space. Major banks in the country are providing finances for fishery activities like marine, inland and brackish water fisheries.
Fish farming is a very old method of agriculture, which produces a steady source of protein. You can grow or nurture fish in your backyard pond or fish tanks. The most common types of fish that can be easily raised for commercial or personal consumption are tilapia, carp, salmon, and catfish.
Equipment needed for Fish Farm Tanks
Implementing the construction and funding of a large Fish Farm Tanks required to dig a fishpond or gather some fish tanks or containers for large outdoor fish farming. Water from a reliable source should be chosen; municipal supply water will be fine. Once you have setup, juvenile fish and some fish feed to start would be required.
For large scale pond based fish farms, additional equipment would be required, such as
- Aquarium or fish tank
- Aeration Devices
- Net or Seine Reels
- Handling and Grading Equipment
- Water testing equipment
Investment Cost for Large Fish Farm Tank.
Construction and Starting a fish farm tank will require capital, commercial equipment, and more people for a large scale farm. The necessary funding should be gathered, while a business plan and a feasibility report that calculates expenses and profits is needed. This will help to get bank loans and also attract partners or investors.
Growing and raising fish for commercial purposes in a backyard can be a sustainable method of food production if the natural relationship found in the ecosystem is mimicked.
Havelet Finance Limited can fund your Fish Farm Tank on the following methods;
-Providing financing and refinancing support for the improvement of rural infrastructure
- Credit plan preparation in the district level and administration of Rural Banks and cooperative banks.
- Provides funds for implementation and construction of Fish Farm Tank and food parks and alongside processing units for certain food parks. Apart from that also lends its services to warehouses, cold chain and storage infrastructures.
- Aids marketing federations by offering credit facilities and also provides specialized long-term irrigation and infrastructure development funds for rural and urban infrastructure.
- Developing good banking practices for the backward sections and provide training to the handicraft artisans of the country and also help in marketing the products.
Provision of credit from banks and eligible activities for fish farm:
Already prevailing guidelines suggest that formulation of project and financing for Fish Farm tanks is under same under investment credit; the cost of operations along with the recurring cost for the very first operational cycle will be included in the capital cost. As for the surplus that will be generated within the first cycle should be ideally enough for the following recurring expenses. Another scenario is where the borrower has already availed bank investment credit might require an extra top up of credit for increased working capital operations. Again another scenario, where the fisherman has not availed investment credit but needs working capital assistance. Considering all these situations, the banks assess the requirement of credit on a real time basis and only the real or genuine cases are favored as per the finance scales provided by private lenders or commercial banks.
Eligibility norms for Fish Farm Tanks
Companies or Individuals that wants to avail in Fish Farm Tank must own or lease one of the below:
- Lake, pond, or tank
- Open water bodies
- Hatchery and raceway
- Rearing farms
- Fishing properties that are licensed
Beneficiaries may include the below professionals or associations:
Marine fisheries who has associations with the state fisheries and allied activities, has a license for fishing in the bay area and owns leased out or registered boat.
Interest Rates under fish farming schemes:
Financing solutions that are offered by Havelet Finance Limited for Fish farming include a minimum rate of interest of 2% percent per annum. Both short term and long term refinancing and also direct lending option. The tenure of refinancing is between a range of 10–12 years.
Eligible Borrowers for availing credit include: — Individual — Company — Partnership firm — Co-operative society — Fish farmers group and — Producer companies or organisations or groups Rate of Interest: the final lending rate has been kept at 13%, so that the bankability of the model project does not get affected. Rate of Refinancing.
Havelet Finance Limited offers refinance assistance with respect to fish farm to cooperative, commercial and rural banks. The rate of refinancing is not fixed and changes from time to time
Subsidies and loans for Fish Farm Tanks:
Subsidy and loans is provided for several works like development and construction of Fish Farm, for new Fish Farm Construction, inputs for first year etc. Implemented by most of the state govts. under a centralized sponsor subsidy scheme through FFDA’s (Fish Farmers Development Agency).
Bank Loan for Fish Farm Tanks:
Most cases of Govt. supported subsidy loan schemes for farm Tanks, it is mandatory to get a bank loan in order to avail subsidy. Promoters are ought to be careful while deciding on the means of finance. Bank loans that cover around 75 % to 90 % of the total cost for development shall be available from the financing institutions. For these kinds of models, bank loans cover around 75 %.
Other services of provided by Havelet Finance Limited includes:
- Monitors and evaluates different projects
- Helps in implementation, monitoring, and evaluation of externally aided projects
- Management of fish market and fisheries co-operatives.
Consider Havelet Finance Limited while looking out for funding to implement the construction of Large Fish Farming