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The Latest Industry News from Ping Finance

Applying for Loans Myself vs Using a Commercial Finance Broker

When it comes to applying for commercial finance, it can be tempting to take on the task of finding a lender yourself. Whilst this may seem like a pretty simple task, once you begin the process of applying for loans with several different lenders, you will find that you have signed yourself up for a significant time commitment. With the vast majority of business owners simply not having the time to set aside for lengthy…
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Why Now Is the Perfect Time to Take Out a Commercial Mortgage

Whether you’re looking to reduce your rental costs by purchasing your trading premises, looking to upsize to a more suitable space as your business expands or wanting to invest in a buy to let, commercial mortgages are a great way to facilitate these purchases. The market can change unexpectedly, so you may be wondering when the best time is to take out a commercial mortgage. Well, at Ping Finance, we believe that there has never…
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Why Is Building a Relationship with Your Lender So Important?

The relationship between a business and their lender is usually pretty standard, there is a lot of interaction in the first instance and once the loan is agreed, the company pays back what they owe at an agreed rate. But if you are keen on making the most of your relationship with your lender, there are some steps you can take to ensure you have the best chance of building a lasting relationship between your…
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Business Finance in Construction

The construction industry is highly competitive, but with the right skillset, employees and investments, your business can thrive. One of the main issues holding back most businesses in the construction industry is having readily available cash to invest in new equipment and premises. In this article, we take a look at some of the biggest issues faced by the construction industry and how the right business finance can help your company grow at a vastly…
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How Technology Could Be the Key to Growing Your Business

It’s no secret that technology holds the key to business growth in the 21st century. From equipment that produces the products you sell on a day to day basis, right through the CRM systems you use to track all existing and potential business, technology dominates all sectors. In this article, we will discuss how your business can harness technology in order to grow at an accelerated rate and highlight some of the new technologies you…
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A Guide to Growing Your Business

The ultimate goal for any business owner, is to successfully grow their company in the most sustainable way possible. Whilst some businesses are able to do this relatively quickly, the vast majority require several years of sustained success in order to make the step up. If you are a business owner and want to give your business the best chance of growing, be sure to read on to find out some of our top tips…
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How Do You Get A Property Development Loan?

You may be in the process of searching for potential funding options for your property development project but be a little unsure on the type of loan to take advantage of. Obviously, the type of loan you end up taking out will be completely dependent upon your situation and taking the time to weigh up the pros and cons of each type of financing is a key step you need to consider. One funding option…
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How Easy Is It to Get a Short-Term Business Loan?

When you’re a small business and looking to make a step to grow your company, there are many obstacles that you need to overcome. In most cases, having the readily available cash is the main stumbling block businesses face and gaining the necessary funds can feel like an unobtainable goal without help from an external source. Taking out a short-term business loan is often the first thought for most companies who are looking to grow…
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Is Invoice Financing Suitable for Your Business?

Waiting up to 120 days for an invoice to be paid can cause severe issues for small businesses. Having a constant cash flow is vital for businesses, especially those that are newly formed or operating on small margins. This is why invoice financing can be so important to ensure your business can continue to operate without the need to make cutbacks until an invoice is finally paid. But is invoice financing suitable for all types…
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Everything You Need to Know About Commercial Mortgages

Taking out a commercial mortgage is a huge step to take for any business and requires a massive commitment from a business owner. Whilst it can seem a daunting prospect, there are a whole host of benefits a company can expect to see from purchasing their own premises and it’s something that should be considered by all businesses. In this article, we will look to answer some of the most frequently asked questions relating to…
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How Do Business Loans Work?

It can be a daunting prospect when you’re considering taking out a business loan. Knowing exactly where to start, and who you should contact can be some of the hardest steps in the process. But trust us, taking out a business loan is actually a lot simpler than you might imagine. In this article, we will take a look at just how business loans work, how you can get one and some of the reasons…
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Why Use Trade Finance?

Trade finance is important for businesses to ensure they can fulfil all their orders in today’s competitive market. There is nothing more frustrating for companies than having to turn down business because you don’t have a sufficient cash flow. With trade finance, that problem can be alleviated. In this post, we will briefly outline what exactly trade finance is, how it works, why it’s important, how it can benefit you to use it and how…
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What is Invoice Discounting?

Invoice discounting is a practice by which a business can receive an advance on a selection of invoices from a third-party company. It’s a way to accelerate cash flow, so that instead of waiting for customers to pay within their usual credit terms, a business can receive the cash almost as soon as the invoice is issued. This form of borrowing allows businesses to increase their working capital, keep their current operations unaltered and maintain…
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The Effect of Brexit on the Commercial Finance Sector

With the recent changes to MP alliances in Westminster, Brexit is set to fall further into chaos. Three Tory MPs have since resigned from the party to join the independent group set up by former Labour MPs, criticising the government for letting the ‘hard-line anti-EU awkward squad’ take over the party. Downing Street has also been warned that more Tory MPs could rebel against the government in a bid to prevent a no-deal Brexit. With…
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How to Finance a Commercial Property

Sourcing funding solutions for your commercial property purchases might seem like a daunting and complex task, but at Ping Finance, we aim to streamline the process. When you’re looking to purchase a premises that your business trades from, add a buy-to-let property to your portfolio or to start your next development project, our panel of lenders can help you out with the funding you need. From high street banks to specialist independent lenders, the property…
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The Benefits of Using a Local Commercial Mortgage Broker

If you’re thinking about enlisting in the services of a commercial mortgage broker, going with a local company is a smart move. A local broker will have all the knowledge and expertise of the area, as well as a network of lenders that they can suggest for your business funding needs. It can be easier to trust in the services of those familiar with your area, knowing that they have built up personal relationships and…
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Why Use a Commercial Finance Broker?

If you’re an SME looking to find funding solutions to drive your business towards its full potential, you may be considering using the services of a commercial finance broker. Whilst traditional banks can offer loans to the likes of small businesses, it can often be difficult to secure a loan this way, especially if you’re unsure if you’re getting the best deal. With so many lenders out there to choose from, the choice can often…
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What is Property Development Finance?

Property development finance loans are a type of short-term loan designed with property developers and construction firms in mind. Whether it’s a new build, a conversion or renovation, property development finance can be used to either fund major new building projects or ambitious renovations. Funding a residential or commercial property development project with the right kind of financial backing is important, as it can significantly impact the entire development process. The initial investment, the cash…
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What is Bridge Financing?

Bridge financing, often in the form of a bridge loan, is a financing option that is mostly used by property investors, developers and businesses to meet an imminent financial need until a longer term solution can be implemented. It ‘bridges the gap’ between a time when money is required, but they are expecting funds to be received at a later date, as the result of a sale, for example. Bridge finance is offered by the…
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What Is Asset Finance?

It’s forgivable to be slightly daunted by the world of finances in business, especially if your company is in its infancy. With so many different and usually confusing finance-related terms circling round your mind throughout the year, it can be difficult to keep up with all of your finances on a day-to-day basis when trying to successfully run a business and make a profit. In this article, we aim to give you a jargon-free guide…
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Get Your Finances Sorted for 2019

A new year is upon us, and that usually means many individuals will be setting all manner of New Year’s Resolutions. You probably have a personal resolution you’re working towards, but as a business owner, have you ever thought about how effective it would be to have a business-related resolution too? You could have a genuinely profound effect on your business’ start to 2019, if you set a realistic business resolution. A New Year’s business…
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Benefits of a Short-Term Business Loan

Short-term business loans are a great choice for businesses in need of quick access to funds but without the commitment of having to repay a larger loan over potentially many years. Unlike a traditional business loan, a short-term business loan provides a company with a lump sum of money that is repaid to their lender over a much shorter period of time than other types of loans, typically from three to eighteen months. Short-term business…
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What is a Bridging Loan and How Do They Work?

A bridging loan is exactly what the name suggests: it’s a loan that ‘bridges the gap’ for a borrower when they have a short-term requirement and don’t currently have the funds available. Bridging loans have changed in recent years. Since the market crash of 2008, banks and building societies have grown reluctant to lend, and this is where the likes of bridging finance companies have moved into the property development and refurbishment market to bridge…
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How Does a Short-Term Business Loan Work?

When a business is in need of funds, there are a number of different avenues they can explore. From business credit cards to traditional bank loans – it can be difficult to know which is the right way to go for your business. Whilst there are many loan products available to assist in keeping your business afloat, a short-term business loan is a great way to meet your more general financing needs. There are many…
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What is Invoice Financing and How Does It Work?

Invoice financing is a general term used for receivables based lending products. It allows you to advance funds that are tied up in your outstanding invoices. Rather than having to wait thirty, sixty, ninety days to be paid – or even longer – the money can be in your account in twenty-four hours. What Is Invoice Financing? There are two variations of invoice financing, these are called invoice factoring and invoice discounting. These terms will…
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Funding an MBO

What Is a Management Buy Out? Before we get started, let’s make sure we’re all on the same page regarding the definition of a management buy out or MBO as they’re often called. An MBO is when someone within the business takes control by buying out the existing owners. Often, these people are directors, managers, non-executive directors or employees. You may also hear the term management buy-in banded about. A management buys in or MBI…
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What Does the Budget Mean for SMEs?

Earlier this week, the Chancellor of the Exchequer, Philip Hammond, appeared with his Budget Box, the iconic red briefcase used to carry the Chancellor’s speech from Number 11 to the House of Commons, to deliver the final budget before the UK leaves the European Union. The post-Brexit economic landscape is uncertain, so in a show of support for British businesses, Mr. Hammond included some pro-business policies. Some have argued, however, that it’s too little, too…
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Working Capital Finance for Sub-Contractors

The collapse of Carillion sent shockwaves throughout the whole economy, not just the construction industry. The issue was discussed and debated everywhere from the houses of parliament to the local pub. There was public outrage when people learned that Carillion had effectively boosted its own cash flow by dragging its feet when it came to paying suppliers. They commonly had to agree to up to 120-day payment terms in order to win contracts. To those…
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What’s the Difference Between a BTL and a Commercial Mortgage?

The main aim of this blog post is to talk about the different mortgages we deal with here at Ping Finance; buy-to-let mortgages and commercial mortgages. In simple terms, a mortgage is a loan which is secured against bricks and mortar. Before we get started, the world of property loans contains many acronyms, so let’s cover a few of the most common ones below: BTL is Buy to Let – a property that’s purchased with the…
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How Much Is 4% Costing You?

In any business opportunity, it’s always important to weigh up the cost versus the reward and make sure that the balance is in your favour. This equation certainly extends to commercial finance. If you require commercial finance in order to take advantage of a new opportunity, it’s definitely worth doing the maths to make sure the deal works for you. For example, the cost of finance might appear high in isolation, but if you can…
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Opportunities with the Alternative Lending Market

Rewind a decade and you wouldn't have come across the alternative lending market in the same way that we know it today. Put simply, the alternative lending market came about because after the financial crash of 2008/2009, when banks effectively opted out of loaning money to smaller businesses. Now, whether that is right or wrong, we all have our own opinions and the banks have had to repair their own balance sheets to try and…
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Funding International Trade: Export Finance

If your company is doing business with customers outside of the UK, you might have hit a stumbling block when it comes to funding. Some lenders place restrictions on the level of international sales they will support due to the perceived risk being higher, however, the good news is Ping Finance works with specialists who are comfortable with 100% export. The whole field of international finance, and more particularly, export finance, is large and sophisticated,…
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What is Trade Finance?

From the smallest start-up company importing its first products from overseas, to multi-national corporations importing or exporting their gargantuan inventory across the globe, trade finance makes these kinds of transactions possible for every business. If you’re in the business of buying and selling goods, chances are you will need to rely on trade finance to help. Typically, when a supplier is not giving a business credit and they are required to pay for goods up…
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How to Apply for a Business Loan: Why You Might Use a Commercial Finance Broker

How often has this thought popped into your head, how do I apply for a short term business loan? And then you might go onto your next thought, why would I use a commercial finance broker? Perhaps you've read about using a broker somewhere, or someone has advised you to use one. Well, there are two overriding reasons why you need to use a commercial finance broker in today’s business environment. Each one is related…
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The Features and Benefits of Invoice Finance

As business people, we all know that an invoice is all very well, but until it becomes cash, in our hands, it is the only reminder of money to come. You can’t pay the bills with your invoices. So it’s no surprise that we’re regularly asked questions about invoice finance. Given that, we want to now take a quick look at the features and benefits of invoice finance and for that, we need to start…
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Ping Finance Is in the Press

Investment firm, Seneca, backs new commercial finance brokerage Haydock-based investment management and advisory business, Seneca, has backed a new Bolton-based commercial finance brokerage, investing an undisclosed sum in its expansion plans. Ping Finance helps small and medium-sized businesses and property investors throughout the UK to raise debt finance by introducing them to suitable lenders, based on their individual circumstances. The company has relationships with a wide range of financial institutions, including banks and specialist lenders.…
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Business Loan Best Rates: How To Find Value For Money

Looking for business loan best rates, you may come across some that seem too good to be true. And the likelihood is, they are. The devil is in the detail. Take a closer look, and you might find that the cheapest price doesn’t actually give you the best value. Before you approach lenders, it’s best to know exactly how to tell a worthwhile rate from a bad one in disguise. Here, we explore the key…
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Is Your Relationship as Productive as It Could Be with Lenders?

“You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you.” - Dale Carnegie It's all well and good researching the rates of different short term business loans, but if you don't specialise in business finance then you can't be expected to have an efficient, up to date relationship with lenders. But what do we mean by…
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Short Term Credit for Long Term Growth

For any new business or SME, capital is king when it comes to catalysing growth. However, there's often an unenviable cache-22 scenario in which businesses have a clear need to invest in staff and infrastructure but could put the financial security of the company at risk should immediate returns not be forthcoming. This fear of loss is one of the leading contributing factors that can hold businesses back from quickly reaching their full potential. It's…
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Finding the Perfect Lender For Your Business Loan

When it comes to searching for the ideal lender for your business loan, there are many considerations that you need to take into account. The importance of the decision is amplified further by the fact that you can stand to save thousands of pounds if you do take the time to research all the options available to your business. Whilst of course the rates are important, they aren’t the ‘be all’ and ‘end all’ when…
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Ping Finance is a trading name of Ping Finance Limited which is registered in England and Wales under Company Number is 10973327, whose registered address is Ground Floor, Unit B Lostock Office Park, Lynstock Way, Lostock, Bolton, England, BL6 4SG. Ping Finance Limited is also registered with the Information Commissioner under Registration Number ZA447449.