JPalmer Collective (JPC), an asset-based lending (ABL) firm focused on women-led and high-growth consumer brands, closed a $1 million asset-based line of credit line, expandable up to $5 million, to Lioness, a functional fruit snack made specifically for women, with functional ingredients designed to support every part of her day. The facility funds working capital, debt reduction and growth initiatives.
“While the amount of venture capital you can raise can seem tantalizing, there are trade-offs: the time it takes, the control you give up and even the risk of raising more than you need. I knew I wanted to retain control of Lioness and have access to flexible financing that would support our growth and scale with us,” Nicky Jackson, founder and CEO of Lioness, said. “JPC’s focus on supporting women founders paired with their deep knowledge of the better-for-you CPG space sealed the deal. I don’t think it’s a coincidence that Jenn and I were connected three separate times by people in our network who all suggested we had similar philosophies and should work together.”
Jennifer Palmer, founder and CEO of JPC, added, “Our business is deeply relationship-focused. Yes, we look at balance sheets and projections, but just as important, we have to believe in the team and genuinely want to work alongside them. Nicky is a rock star, an experienced entrepreneur who knows how to build a brand, a woman and mom passionate about creating something women need, and a founder who saw a gap in the market and is solving it. We got in early with Lioness, right as it was hitting shelves, and we broke a few of our own rules to make it happen. This deal didn’t fit into our traditional box. But when we see something special, we trust our gut and figure out how to make it happen. Having spent years working with female founders and CPG companies, I knew immediately Lioness was one of those moments, and we got creative so we could be the partner that helps Nicky take the brand as far as it can go.”
