State of Play: JPalmer Collective Provides $4 Million Line of Credit to STATE Bags

JPC Deepens Commitment to Fund Purpose-Driven, Women-Owned and -Led Companies

NEW YORK – January 21, 2026 – JPalmer Collective (JPC), an asset-based lending firm focused on empowering high-growth, women-led, and mission-driven companies, today announced the closing of a $4 million line of credit to STATE Bags, the vibrant lifestyle brand known for its iconic, durable backpacks and its dedication to social impact.

Founded by Scot and Jacqueline Tatelman in 2013, STATE Bags quickly became a cult favorite, blending creativity, functionality, and philanthropy. For every bag purchased, the company donates fully stocked backpacks, supports projects with partner charities and schools, and raises awareness of social issues through its #WhatDoWeTellTheKids platform.

“We are proud to fuel the growth of this dynamic and mission-driven brand,” said Jennifer Palmer, founder and CEO of JPalmer Collective. “State Bags has built a powerful model that brings joy to families while making a tangible difference in underserved communities. As a mom of four daughters who are devoted STATE Bags fans, I’ve seen firsthand how these colorful bags bring joy to people of all ages.”

The financing will enable STATE Bags to simplify its capital structure and fund continued expansion.

“Our refinancing with JPalmer represents a meaningful upgrade to our financing strategy, replacing a patchwork of short-term solutions with a reliable, growth-aligned partner,” said Jacq Tatelman, Co-Founder, CEO, and Creative Director of STATE Bags. “JPalmer has been incredibly flexible and collaborative throughout the process, and we deeply value this long-term partnership.”

About JPalmer Collective  

JPalmer Collective is a customized asset-based lending solutions provider founded in 2023 by Jennifer Palmer, commercial finance veteran, former president of SFNet and an advocate for improving women's access to financing. Created to fund high-growth companies that do not fit the traditional lender's criteria, the company provides white-glove service with a consultative approach to women-led companies. high growth consumer brands and companies focused on conscious consumers, sustainability, and inclusivity so they can achieve sustainable growth.  

About STATE Bags

STATE - the Original Family Bag Brand - is a purpose-driven company offering premium, thoughtfully designed backpacks, luggage and accessories for today’s family on the move. Co-Founders Jacq and Scot Tatelman created STATE to provide well-made, beautiful products while using the power of business to give forward. From the inception of the brand, giving back has been ingrained in the company’s ethos. With every purchase, STATE supports American families in need in the most impactful ways. STATE is available for purchase online at statebags.com and at leading retailers across the U.S. For more information, visit statebags.com or follow STATE at @statebags.