A NSW Government website

NSW Government
Rural Assistance Authority

Seafood Innovation Fund

The NSW Government’s Seafood Innovation Fund provided low interest loans of up to $500,000 to assist commercial fishers and aquaculture farmers to identify and address risks to their business, improve permanent assets and infrastructure, ensure long term productivity and sustainable use of the marine, estuarine and land-based environment.




Applications are now closed

In accordance with the program guidelines, the Seafood Innovation Fund loan is now closed to applications, as all available funds have been allocated.

Please refer to the program guidelines for detail:
Program Guidelines – Seafood Innovation Fund Loan


Loan terms

Maximum amount:
Seafood Innovation Fund loans are up to a maximum of $500,000.

Interest rate:
The rate applied to Seafood Innovation Fund loans is 2.5% and is fixed for the term of the loan.

Repayments:
Loans can be repaid monthly, quarterly, bi-annually or annually over a term of up to 20 years.

Please refer to the program guidelines for further details.

Program guidelines

Claim payment

Approved applicants have 12 months from the date of application approval to submit invoices to claim payment.

Please note that the online form has file size restrictions (approx. 20MB total) – for each attachment please ensure the file size is 2.5MB or less to avoid submission issues.

To lodge a claim, you will need:

  • BP reference number
  • ABN number
  • Case number from original application
  • Tax invoices

You can claim for the GST-exclusive amount of eligible invoices.

We recommend you use the Google Chrome browser when submitting a claim.

Need help?

If you have any questions about this program you can contact our team by calling 1800 678 593 or emailing rural.assist@raa.nsw.gov.au.

If you have difficulty understanding the guidelines or completing the application form you should seek the assistance of your rural/financial counsellor, business advisor, accountant or a trusted family member/friend. If you need assistance with interpreting or translating, please contact Multicultural NSW on 1300 651 500 or email languageservices@multicultural.nsw.gov.au.

If you are experiencing any issues completing the form, free confidential assistance is available from your local Rural Financial Counselling Service (RFCS). For more information, visit the relevant website or call:

Northern region: 1800 344 090
Southern and Central region: 1800 319 458



Total funding = $ 1,000,000,000



  • DIF/FIF refers to the Farm Innovation Fund or Drought Infrastructure Fund
  • SIF refers to the Seafood Innovation Fund
  • DAF refers to the Drought Assistance Fund
  • Values shown are for amounts approved
  • Rounding may mean subtotals are less than grand total

Note: As not all applicants drawdown the full allocation of approved funds, the total value committed will near, but not exceed, the $1 billion funding allocation.