New loan program supports upgrades for Maryland oyster processors

MARYLAND – Oyster shucking houses and other processors have a new opportunity available to help make improvements to their facilities. It’s the new Maryland Oyster Shucking House Loan Fund by the Maryland Agricultural and Resource-Based Industry Development Corporation (MARBIDCO).

The money came as a result of legislation passed in 2022, looking to increase oyster production and availability.

Although it’s a loan program, Executive Director Steve McHenry with MARBIDCO said those eligible have the opportunity to save. “So rather than paying money, they could get a credit for having contributed bushels of oysters shells back to the Chesapeake Bay,” McHenry said.

“Oyster shells stand as the substrate for the oyster larve or the baby oysters to actually make them grow.”

Funds can also be used towards the purchase of equipment.

Eligible parties can apply for up to $250,000. Applicants must be licensed with Maryland Seafood Dealer for at least five years or be a Tidal Fisheries License holder for at least five years and agree to obtain a Seafood Dealer License if approved.

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