24 



are now just short of $8 million. They include $2.5 million to New 

 Bedford, $1.5 million to Gloucester, $1 million to the State of Mas- 

 sachusetts, as well as grants to Rhode Island, Connecticut, and oth- 

 ers, and we expect all of the $18 million in applications are going 

 to get out in the next few weeks. 



The National Marine Fisheries Service announced, on July 8, the 

 availability of fishing industry grants or FIGS, and we have been 

 conducting meetings at the family centers, two at each center, over 

 the last few weeks. I think there was one in New Bedford a couple 

 of days ago on that. I have applications here with me for anyone 

 wanting to apply for that money. There's a deadline of August 22. 

 This is the first $4.5 million, and that money requires no local 

 match. It's 100-percent grant. After that is done, then we will do 

 the process for the second $4.5 million. There will be a local match 

 on that. 



The other thing that I want to mention is our work with Small 

 Business Administration. As I said, we're trying to involve other 

 Federal agencies. The Department of Labor has come in with both 

 feet, the Department of Housing and Urban Development is mak- 

 ing monev available at the request of the mayor of Gloucester. 



With SBA, we try to raise the issue that Representative Tarr 

 raised, of long-term debt. Recently SBA has developed a program 

 national in scope for fishing communities, but really brought to 

 their attention oy fishermen in New England. It is a commercial 

 fishing industry loan guarantee program where SBA would work 

 with a vessel's lender to see if there's a way that that lender can 

 put some part of a loan on standby or forgive part of an outstand- 

 ing loan, and in return SBA would guarantee the remainder. What 

 that would result in for fishermen, and this is an issue that Chip 

 raised in his report — the pressure the debt exerts, is to go out and 

 fish the extra dates, the extra effort, and the connection between 

 relieving the pressure of that debt and relieving or reducing effort. 

 But if we can combine a reduction of the loan with a guarantee, 

 then it's possible to both lower the balance and lower the interest 

 rate, and that could cut the monthly charge in half. 



Again, this is a program that SBA has created. It's also impor- 

 tant to note that they have, under normal circumstances, a require- 

 ment that says to qualify for SBA loans you have to have always 

 been within 29 days current. Because of the nature of the fishing 

 industry where you're out for 2 weeks, that would rule out most 

 fishermen, and so in this case that 29-day provision is going to be 

 waived. 



Finally, a report that our office has been working on to try and 

 identify needs is in final stages of Department review and we hope 

 will be released shortly. We think that the effort that we are work- 

 ing on in partnership with fishermen, with the councils, with local 

 officials, with State agencies is a different way to look at an intrac- 

 table or a previously intractable resource issue. 



We are also, as you pointed out, Senator, in your introductory re- 

 marks, trying to apply some of the lessons we are learning here to 

 issues in the Pacific Northwest where we have completely shut 

 down ocean salmon fishing. 



Let me iust quickly touch on some of the problems that have 

 been raised by previous speakers. 



