The Maryland Agricultural & Resource Based Industry Development Corporation (MARBIDCO) is a quasi-public economic development organization chartered by the State of Maryland and headquartered in Annapolis. Its mission is to help Maryland's (typically small and family-owned) farm, forestry, and seafood businesses to prosper through the provision of targeted financial and other services that helps retain existing resource-based industry production and commerce, promote rural entrepreneurship, and nurture emerging or expanding agricultural enterprises.
Maryland Shellfish Aquaculture Financing Fund
In partnership, the Maryland Department of Natural Resources (DNR) and MARBIDCO provide affordable financing to watermen and other parties who want to start or expand commercial shellfish aquaculture operations in Maryland. UME is also contributing to this effort by providing training and business planning assistance to current and prospective shellfish growers. This loan features interest only payments and partial principle forgiveness.
Loan proceeds can be used to purchase shell, seed, spat or equipment (depending on the source of funds). Both bottom culture and water column (cages or floats) projects are eligible.
Maryland Remote Setting Shellfish Aquaculture Financing Fund
Working in collaboration with DNR and using Maryland Port Administration (MPA) funds, this program provides affordable financing to commercial watermen who want to start or expand shellfish remote setting (nursery) aquaculture operations. This loan features interest only payments and partial principle forgiveness
The nursery grower purchases larvae from a hatchery and places it in a tank containing cultch for the larvae to set on. Spat on shell setting systems consist of a tank, pump, piping and valves, and a blower to provide low pressure air to circulate larvae during setting. Seed (larvae), shell (substrate), and tank heaters (during cooler months) are also needed.