According to local news source the $5 million revolving loan fund, called the California Fisheries Fund, is designed to help the state’s fishing industry rebuild after years of decline. The main aim of this fund is to create infrastructure to connect eco-friendly fisheries to consumers. It is told that local fishermen and fish buyers will receive $275,000 in loans to help build an eco-friendly system.
Michael DeLapa, the fund’s manager, explained that without the California Fishing Fund, these businesses probably wouldn’t get loans, and without loans, the entire seafood supply chain, starting with the fishermen, can’t make the necessary investments to make fishing more sustainable. It is noticed that the Environmental Defense Fund is creating the program. The money will help the company gain access to sustainable fish stocks that it sells to buyers from Ventura to the Bay Area, said Giovanni Comin, Central Coast Seafood’s owner.
Managers of the fund express they targeted Morro Bay fishermen for their first loans because the community has participated in efforts to switch to more sustainable fishing techniques and gear. In 2005, the Environmental Defense Fund and The Nature Conservancy purchased the entire Morro Bay trawl fishing fleet, including boats and permits that covered 3 million acres of ocean floor.
