Strategy
The Trust’s purchase and leasing of the scallop quota will enable fishermen to strengthen their businesses presence on the island, and in turn support strong fisheries management to protect their livelihoods. The scallop quota will also generate lease income to fund the Trust’s programming and market activities.
In Spring 2017, Catch Together worked with the Trust to buy nearly $950,000 in sea scallop quota and launch its permit bank. Catch Together supported the transaction with services for business planning, quota acquisition, financial modeling, deal structure, deal term negotiation, and securing the necessary funding through a combination of grants and low interest debt.