Fishing Vessel Financing Improvement Act of 2026

This bill updates financing rules for fishing vessels under federal programs. It increases the maximum loan guarantee to 87.5% of a vessel's current value (up from previous limits) and expands eligibility to include used fishing vessels over 79 feet long built after January 2021 for two years after enactment. The law also explicitly includes "seafood-related trade" as an eligible purpose for financing and requires guarantees to align with fisheries conservation under the Magnuson-Stevens Act. These changes directly affect commercial fishing vessel owners seeking loans or guarantees for purchasing or upgrading vessels.