08/29/2013 01:04 EDT | Updated 10/29/2013 05:12 EDT

Nova Scotia lends $500,000 to seafood company to restructure operations

PORT MOUTON, N.S. - A seafood company in southwestern Nova Scotia is getting a $500,000 loan from the provincial government to help restructure its operations.

The government says the loan to Blue Wave Seafoods Inc. is repayable over a 10-year period.

The fish processor and exporter employs nearly 70 full and part-time staff in Port Mouton.

The government says the money will provide the company with working capital as it restructures to achieve long-term sustainability.

The company, which has been in the community for more than 20 years, processes and exports its products across Canada, the United States and Europe.