MARBIDCO to offer relief loans to MD oystermen

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The Maryland Agricultural and Resource-Based Industry Development Corporation (MARBIDCO) intends to provide zero-interest disaster relief loans to eligible Maryland commercial oyster harvesters, officials from the organization announced Monday.

Loan provisions are possible through the newly established Maryland Commercial Oyster Harvester Disaster Relief Loans. Following what MARBIDCO officials called a difficult season for oyster harvesters in the state, the organization has nearly $3 million in disaster relief loan funding available, according to a release.

The Maryland General Assembly passed Senate Bill 558/House Bill 1599 to establish the Maryland Seafood Industry Financial Assistance Fund under MARBIDCO, appropriating $2 million in the FY 2027 state budget for the effort, a release says. The legislation was signed into law by Gov. Wes Moore on May 12.

In addition, MARBIDCO said it is providing $1 million in temporary funding to enhance the pool of disaster lending capital available to eligible oyster harvesters.

MARBIDCO cited data from the Maryland Department of Natural Resources indicating oyster harvests declined by 44% while the dockside value of oysters dropped by 66% by late February. 

All borrowers will receive the same loan amount, according to MARBIDCO, which will be determined by dividing the available funding by the number of applications received. 

“The minimum loan amount is expected to be about $4,000, but depending on the level of participation, loans could range up to a ceiling of $10,000,” a MARBIDCO release says.

To be eligible, a commercial oyster harvester must:

• Be a Maryland resident and hold a valid Tidal Fisheries License from the Department of Natural Resources or Potomac River Fisheries Commission Commercial License for oyster harvesting
• Have paid all applicable surcharges or fees to DNR or the PRFC to harvest oysters between October 2025 and April 2026
• Have harvested oysters during the 2025 to 2026 season as documented in harvest reports
• Have submitted all required oyster harvest reports to the DNR or PRFC, as verified by these agencies, by the required deadline.

Eligible harvesters may apply by emailing applications to [email protected] by the close of business on June 12. MARBIDCO will accept mailed applications postmarked no later than June 8. 

The disaster loan funding will become available for distribution in early July.