Asset Finance Loan

Background

Based in Co. Roscommon, FarmLab is a diagnostic testing laboratory, specifically a provider of animal health diagnostic solutions.  Established in 2012 by a number of practicing veterinary surgeons and led by experienced veterinary practitioner, John Gilmore, the team now comprises of 20 employees including vets and scientists, offering a range of tests to the animal health sector.

Challenges

FarmLab saw an opportunity to expand to a new area of their business which required specialist diagnostic equipment and highly skilled lab analysts to operate this facility. The covid pandemic in 2020 created a lot of uncertainty around their future, but as a business they had a growth strategy in place and required a flexible finance partner to support their expansion. This opportune investment in the new technology and equipment would mean a higher level of service, higher technical expertise in terms of the tests they can facilitate and offer in addition to the business and eliminate dependency on third parties.

Solutions

In a time of uncertainty, FarmLab backed themselves in their growth plans and Capitalflow fully supported the expansion. FarmLab were already a leader in their field with an emphasis on quality management and high grade testing solutions. Supporting business growth, creation of jobs, more independence as a business and security with long term contracts put FarmLab in a very strong position in their sector.

“The flexibility and the ease of working with Capitalflow and their ability to give clear confirmations and clear answers in relation to requests for finance in a very short period of time I think differentiates them from anyone else I’ve dealt with in the past. Capitalflow have a game changer attitude, they’re there to do business and want to do business, they’re willing to provide solutions that make sense. I’ve recommended people to Capitalflow and will continue to do so.” 

John Gilmore, Vet and CEO of FarmLab Diagnostics

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