HFS VESSEL AND GEAR GRANT PROGRAM 2026
2026 HFS Vessel & Gear Grant Program
In 2024, the five Nations and DFO signed the Incremental Reconciliation Agreement for Fisheries Resources (IRAFR). The IRAFR fund includes $2.5 million to support fishers in upgrading their vessels and gear. Last year, $500,000 of this funding was allocated to the 2023-2024 HFS Vessel and Gear Grant (92 fishers applied and received this grant). Building on that initiative, HFS is now developing a comprehensive Vessel and Gear Strategy for 2025-2026 to help fishers upgrade their fleet using the remaining $2 million.
The T’aaq-wiihak fishing fleet is aging and requires significant upgrades or replacements to ensure long-term sustainability and competitiveness. We recognize that fully modernizing the fleet would require at least $10 million per Nation, far exceeding the available funding. With $2 million to be divided among all five Nations, our focus is on making the most strategic and impactful use of these limited resources.
Our program is designed to maximize the benefits of the available funding, ensuring that fishers receive meaningful support while laying the groundwork for long-term fleet renewal.
It is also important to note that fuel subsidies and insurance coverage are not eligible expenses under the IRAFR due to funding restrictions set by DFO. However, HFS acknowledges that fuel costs are a major financial burden for fishers and is actively exploring solutions, such as fuel volume buying programs and tax exemptions for fuel purchases. HFS will continue developing strategies to address fuel cost reductions and will present them separately in the future.
Program Objective
Support Nuu-chah-nulth fishers in building sustainable and rewarding career paths through access to financing, training, and long-term business growth opportunities.
Program Goal
Stabilize the existing fleet by ensuring vessel and gear investments align with active fishing activity and support long-term viability.
How the Program Works
The program helps T’aaq-wiihak fishers access loans through the Nuu-chah-nulth Economic Development Corporation (NEDC) or the Native Fisheries Association (NFA). Both require fishers to contribute a minimum of 10% equity toward any loan. The HFS grant helps cover part of that equity, reducing the up-front cost to fishers.
| Loan Size | HFS Grant Covers | Example Loan | 10% Equity Needed | HFS Grant | Fisher’s Portion |
| Small (<$50,000) | 70% of equity | $40,000 | $4,000 | $2,800 | $1,200 |
| Medium ($50,000–$150,000) | 60% of equity | $100,000 | $10,000 | $6,000 | $4,000 |
| Large ($150,000+) | 40% of equity | $200,000 | $20,000 | $8,000 | $12,000 |
Program Structure
Year 1 – Matching Grant: HFS covers up to 40–70% of the equity required for a loan. Fishers can apply the grant toward one large or several smaller loans per year. Example: For a $200,000 loan (10% equity = $20,000), HFS provides $8,000, and the fisher contributes $12,000.
Year 2 – Incentive Grant: After the first year, fishers who have loans in good standing and have completed the training requirement can access a second grant to continue vessel or gear upgrades, pending available funding.
Training Requirement: To qualify for Year 2 funding, fishers must complete financial, business, and asset management training organized by HFS.
Eligibility & Conditions
- The applying T’aaq-wiihak fisher must have landed fish in 2024 or 2025.
- The grant must be attached to a loan with NEDC or NFA.
- Loan must be new or in repayment (in good standing).
- Grant can only be used for vessel or large gear purchases.
- Fuel, insurance, and operating costs are not eligible.
- All program participants must have insured fishing vessels.
Why This Model?
Developed following the 2024 HFS Vessel and Gear Program evaluation, this model encourages financial responsibility and sustainable business growth. Fishers who invest their own funds are more likely to repay loans and manage finances effectively, ensuring long-term fleet stability and success.
For more information on the Vessel and Gear Program
Email: lauren@haoom.ca | Phone: 250 703 3213 | www.haoom.ca
Background
In 2024, the five Nations and DFO signed the Incremental Reconciliation Agreement for Fisheries Resources (IRAFR). The IRAFR fund includes $2.5 million to support fishers in upgrading their vessels and gear. Last year, $500,000 of this funding was allocated to the 2023-2024 HFS Vessel and Gear Grant (92 fishers applied and received this grant). Building on that initiative, HFS is now developing a comprehensive Vessel and Gear Strategy for 2025-2026 to help fishers upgrade their fleet using the remaining $2 million.
The T’aaq-wiihak fishing fleet is aging and requires significant upgrades or replacements to ensure long-term sustainability and competitiveness. We recognize that fully modernizing the fleet would require at least $10 million per Nation, far exceeding the available funding. With $2 million to be divided among all five Nations, our focus is on making the most strategic and impactful use of these limited resources.
Our program is designed to maximize the benefits of the available funding, ensuring that fishers receive meaningful support while laying the groundwork for long-term fleet renewal.
It is also important to note that fuel subsidies and insurance coverage are not eligible expenses under the IRAFR due to funding restrictions set by DFO. However, HFS acknowledges that fuel costs are a major financial burden for fishers and is actively exploring solutions, such as fuel volume buying programs and tax exemptions for fuel purchases. HFS will continue developing strategies to address fuel cost reductions and will present them separately in the future.