Bibby Financial Services announced it provided an $11 million revolving line of credit to Fragrance Acquisitions (dba Preferred Fragrance), a distributor of designer-inspired perfumes.

Bibby said Preferred Fragrance will use the funding to build inventory for seasonal orders. The company creates fragrances inspired by leading designers and celebrities and produces a number of collections.

“When companies have seasonal ebbs and flows due to retail demand, obtaining cash flow to continue producing can prove difficult,” says Leigh Lones, Bibby Financial Services Americas CEO. “Asset-based lending is a practical way for a company to leverage its assets to get the working capital needed to keep its business moving forward. Bibby recognized value and is pleased to support Preferred’s ownership and management team.”

New York, NY-based Preferred Fragrance is a developer and marketer of affordable fragrances. The company’s products are sold at over 50,000 retail stores in the U.S. throughout the apparel, mass, value-priced and pharmacy sectors.