NSW Department of Primary Industries (NSWDPI) director of fisheries operations, Mika Malkki said the NSW Government is committed to enhancing and protecting Aboriginal cultural fishing, along with supporting fisheries related business opportunities.

"With $500,000 available in 2019/20 - Aboriginal people, businesses and community groups are encouraged to get involved," Mr Malkki said.

"Applications for grants and loans from the trust are invited for projects that will enhance, maintain and protect Aboriginal cultural fishing, or promote economic opportunities for Aboriginal communities associated with the fisheries resource."

Some of the initiatives include: enhancing cultural fishing grounds, education programs and cultural fishing workshops.

Mr Malkki said the initiative can make a meaningful difference to Aboriginal communities.

"We recognise the spiritual, social and customary significance that fishing has within the Aboriginal community and will continue to support the trust to ensure its value for the Aboriginal fishing community," Mr Malkki said.

"The trust has been designed to provide funds for both big and small projects through both grants and loans."

The third funding round opened in March and will close 5pm, May 19.

For information on eligibility, funding categories, the assessment process and how to apply, visit the NSW Department of Primary Industries website.

For specific questions relating to loans from the fund, please contact the NSW Rural Assistance Authority on 1800 678 593.