How Northrim and SSBCI Helped Fish River Services Launch Crabbing Operations in Remote Alaska
When Jack “Jay” Adams decided to expand his livelihood into the crabbing industry, he knew the challenges ahead. Operating in the rugged, remote terrain of Alaska and the community of White Mountain meant he needed reliable equipment to transport crew and gear across difficult landscapes. His newly formed business, Fish River Services, was created in 2022 with a vision to support fishing and crabbing operations in Norton Sound, a region where opportunity meets harsh conditions.
To make this vision a reality, Jay needed a specialized utility vehicle: a 2023 Can-Am Defender Max HD10 XT, capable of navigating the unforgiving terrain. The vehicle’s price tag makes it a significant investment for a startup with limited financial history. Traditional financing options were scarce, and the fishing industry’s volatility added another layer of complexity.
That’s where Northrim Bank, leveraging the Alaska State Small Business Credit Initiative (SSBCI) program at UAA’s Alaska Small Business Development Center, stepped in. Through SSBCI’s 50% guarantee, Northrim offered Jay favorable terms to help his small business with the purchase. This partnership reduced risk for the bank while providing Jay with the capital he needed to acquire the Can-Am Defender.
With the new utility vehicle secured, Fish River Services gained the mobility essential for transporting people and equipment to remote crabbing sites. Equipped with the 4×4 drivetrain, advanced suspension, and the ability to carry both crews and equipment safely across challenging terrain, this investment led Jay to take advantage of a recovering seafood market, where crab prices were projected at $9 per pound and the allowable catch for Norton Sound was set at 450,000 pounds.
“Life is a lot easier since I started banking with Northrim,” shared Jay. “The employees always answer the phone and are willing to help in any way possible. The employees are knowledgeable and friendly. The Lending Branch Manager in Nome, Drew McCann, is easy to work with and gets paperwork ready outside of normal work hours and/or weekends for time-constrained loans needed for my business. Northrim has also sent out numerous items for the community of White Mountain, like berry combs that support our way of life. While Northrim is new in this region, they have already impacted the region positively, by giving, being friendly, always answering the phone, and being a great resource for small businesses that want to grow.”
Fishing and crabbing are central to White Mountain’s economy and culture. By providing dependable transportation Fish River Services helps sustain the local industry, and its community. All while also strengthening their operations and contributing to the local economy.
Thanks to Northrim and the Alaska SSBCI program, Jay’s dream of building a sustainable crabbing operation in Alaska is no longer just an idea; it’s a reality. The Can-Am Defender isn’t just a vehicle. It’s a symbol of resilience, opportunity, and the power of strategic partnerships in supporting small businesses in Alaska’s most challenging environments.
