Posted at 12:14 p.m., Friday, June 13, 2003
Shrimp farm gets state loan
Advertiser Staff
Kaua'i shrimp farming operation Ceatech USA Inc. yesterday received approval for a $1.8 million loan from the state Board of Agriculture to build more shrimp ponds.The state will give Ceatech a seven-year loan, amortized over 15 years, in an effort to help it reach profitability. Remaining debt would be paid off with a balloon payment. Ceatech will get the money based on meeting certain performance goals. All the money must be disbursed by June 2004.
