Summer 2019

Northwest Farm Credit: Rural, Real Estate, Operating Loans; Farm Loans; Country Home Loans; Lot Loans; Equipment Financing; Young and Beginning Producers; Crop Insurance; Business Management Education; Property Appraisals

Issue link: http://digital.nexsitepublishing.com/i/1155824

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Page 8 of 23

center of business and social activity, a geoduck can sell for more than $200 during peak season. The recent trade war has hurt prices some, but the Xias say they're more concerned about any offense taken by their customers. "Agriculture is fundamental for a country," says Hui. "Every country has their own way of protecting their agriculture. My husband always believes that it's better to be in the ag industry than the service industry because we are producing things people need. Henry always wanted to be a farm boy, if farming would make a living. So, we decided to go for it. And now we're very proud to be Chinese American farmers." million-dollar views off the Olympic Peninsula. Today they lease 18 different tidelands where geoduck "squirts" are quite the attraction. To expand their small business further, the Xias needed conventional financing. Fortunately, they found a lender who knows the seafood business. "I was surprised when we contacted Northwest Farm Credit," says Hui. "They knew quite a bit about geoduck farming, which is very rare. They even knew the price, which surprised me. They did their homework and they understood the challenges. We feel respected and they are very caring people." "I get excited working with entrepreneurs like Henry and Hui," says Northwest FCS Relationship Manager Jess Sarsfield. "They are focused and passionate about farming and the products they produce. When Hui and Henry came to us, they were already growing geoducks. Henry was perfect- ing his process and had some of the lowest mortality rates in the business. The permits they had, and the short amount of time it took Hui to get them, spoke volumes about their management skills." Today, the Xias export all their product to China through wholesalers and private contacts. Domestically, a two-pound clam costs about $70. In China, where restaurants are the Henry shows a two-year old geoduck to Northwest FCS Relationship Manager Jess Sarsfield. Jess Sarsfield is a certified dive instructor with experience working on dive boats in the Red Sea. summer 2019 8

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