Array Community Development Corporation offer loans up to $50,000 for new and existing shellfish growers in North Carolina. This is not a grant program. This loan program is a partnership with the North Carolina Rural Economic Development Center and the North Carolina Coastal Federation, designed to support the growth of the NC shellfish industry.

Current Rate

Legislators have set the current interest rate for the North Carolina Shellfish Loan Fund in accordance with the IRS's applicable rate. The rate for July 2024 is 6.65%

July Interest Rate

Program Eligibility

The business must have:

1. USDA FSA Noninsured Crop Disaster Assistance Program (NAP)coverage.
2. A shellfish lease from the NC Department of Environmental Quality.
3. The shellfish operation must be physically located in North Carolina.

Other Requirements

1. Any individual with greater than 20 percent ownership in the applying business must co-sign the loan.

Download the Shellfish Growers Loan informational flyer