The New Primal
If there’s something we can universally appreciate, it's a good snack.
Jason Burke, founder of The New Primal, can sympathize from personal experience. After struggling with the unsatisfactory vending machine options at work, Jason decided to take matters into his own hands and started making his own jerky - with grass-fed beef, simple spices, and a countertop dehydrator - to keep in his desk. People began to take notice, and in 2012, The New Primal launched their carefully sourced, insanely good jerky.
With a product this good, scaling quickly to meet demand is critical.
However, moving into natural and conventional grocery chains comes with its own unique set of challenges. The New Primal, like most companies, faced large expenses like slotting fees and manufacturer chargebacks which, in turn, ate into their cash flow. While selling through distributors is the lifeblood of most natural food manufacturers, it can leave brands short on the working capital they need to fund inventory purchases and other operational necessities.
With Dwight, The New Primal was able to address their working capital needs directly by financing their Accounts Receivables and Inventory. Dwight structured a flexible revolving line of credit, allowing The New Primal to draw down as needed and payback the line once they receive payments from customers.
At Dwight, we like to partner with visionaries. When it comes to the next big step, we'll stand by your side.
As The New Primal grew quickly and found its home in grocery stores across the country, its product offerings expanded beyond portable protein to children's snacks and condiments. Dwight supported their scaling by growing their line of credit, thus allowing them to get the working capital necessary to fund new invoices and distribute their new products.
Having access to a non-dilutive financing solution tailored to support growth, helps the company focus on what really matters: creating incredible products. As The New Primal continues to innovate and expand, we’re excited to scale with them to help them succeed in their vision.