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Portland Fish Exchange requests $200,000 from authority to cover shortfall
Summary
Portland Fish Exchange asked the authority for a $200,000 payment to cover a cash shortfall caused by reduced landings, maintenance payouts and near-exhaustion of a $250,000 line of credit; the board voted to approve the request.
Robert, a representative of the Portland Fish Exchange, told the Portland Fish Pier Authority that the exchange faces a critical shortfall and requested a $200,000 payment to cover immediate obligations.
Reading a letter to the board, Robert said the exchange has “nearly exhausted our $250,000 line of credit” after recent maintenance costs and payouts to vessels. He said the exchange withdrew $75,000 from the remaining $95,000 on the line of credit to make…
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