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NGExpert financial copywriter
Page written by Chris Godfrey. Last reviewed on October 3, 2024. Next review due April 1, 2025.
Big screens, big sounds. Audio visual (AV) equipment puts you in the picture and tells you what you need to know. Movie houses, theaters, sports events, conferences and almost every other type of event or venue need AV equipment to impress their audience. However, this kind of tech does not come cheap. Even a small show may need equipment worth many thousands of dollars to deliver the effects that organizers need.
Buying big-ticket AV equipment with cash can put a serious dent in your bank balance. That’s why AV companies, venue owners and event organizers use AV equipment financing to buy the bells and whistles they need. Read on to learn more about this kind of funding and how it can help your business make an impact without hurting cash flow.
Audio visual equipment includes devices that deliver a visual or aural (sound) effect to your audience. This can be anything from microphones, projectors and monitors, all the way up to the mega sound systems you see at rock concerts or the jumbotron screens you find at major sports venues.
Most events, regardless of scale, require some AV equipment to increase the entertainment and information values of the show. This could be a simple microphone system to enhance a speaker’s voice, or it could include major laser effects, surround-sound systems and giant TV screens.
Audio visual equipment financing refers to specialist business loans that help organizations buy the AV equipment they need. Financing may be more tax-efficient than paying with cash and it can take the strain off working capital, allowing organizations to pay for the equipment over time instead of all at once.
AV equipment financing is typically provided by online lenders instead of traditional banks and credit unions. Popular AV financing products include:
Equipment financing
The most common way to buy audio visual equipment, equipment loans are ‘self-collateralizing’ – like auto loans – you use the AV equipment as you pay for it, while the lender maintains a lien on the machinery. Once you pay the loan back, the lender releases the lien, and you own the equipment outright. No added collateral is required.
Business term loan
The standard type of business loan. You receive a single, lump-sum cash injection and then pay it back in regular instalments, plus interest and any fees, over a fixed period of up to 25 years. Collateral may be required.
Business line of credit
This is a business loan that functions like a high-value credit card but comes with lower interest rates and fees. Withdraw as much as you want when you want from a loan facility up to the limit of your borrowing. You only pay interest on the sums you withdraw, not the whole line. This can significantly reduce your borrowing costs. Collateral may be required.
Invoice financing
Also known as account receivables financing, this type of loan allows you to borrow against the value of your unpaid invoices and is best for B2B organizations. The lender will usually provide up to 95% of the invoice value within a few days or even hours of the bill being raised. Your invoices act as security for the loan, no added collateral is required.
Merchant cash advance
Available for businesses that accept customer payments by credit and debit card. You borrow against the value of your card sales. As your card sales increase, your borrowing limit goes up. Pay the loan back with a fixed percentage of your card sales on a daily, weekly or monthly basis. Your sales act as security for the loan, no added collateral is required.
Business credit cards
If you have good credit, it may be possible to secure a business credit card with a high limit to buy your AV equipment. The application process is usually online, fast, streamlined and does away with the need for piles of paperwork – in many cases you won’t even need a formal business structure to apply. Collateral usually not required.
Events are typically staged to deliver information, sell something, or provide entertainment. (We see this with events such as conferences, trade shows and pop concerts). Ensuring your audience can hear and see what’s going on at all times is essential – which means building a strong audio visual component into your event planning. In many cases, the quality, reliability and strength of your AV equipment will determine if your event succeeds or not.
There are many types of audio visual equipment, but the most common devices include:
Microphones
Microphones capture sound and either send the signal to a recording or transmitting device or to amplifiers and speakers that broadcast the sound – usually voice or music – to a live audience.
Speakers
Speakers enhance the sound signals they receive from microphones or recorded media – for example, as seen in home TV theaters. Speakers make the received signals audible to the human ear and they are usually used in sets to produce a varied sound spectrum.
Projectors and screens
Projectors and screens are used to display static or moving images – typically in much larger format than the original source imagery. Projectors can deliver images from hard content format – such as slides or from video tape – or from software such as digital files. Screens can be simple folding or static white panels that capture a projected image, or they can be large-scale TV screens that deliver hi-resolution broadcast or recorded imagery.
Lighting
Lighting can make any event into a visual spectacle and audio-visual lighting can be as varied as simple spotlights that illuminate products on display or a person on stage, or as complex as laser shows that provide highly technical moving imagery that is often synchronized to music.
Cables and adapters
None of the equipment above will work without the services of cables and adapters. These basic components are the nervous system of any event AV system, linking devices to power, and each other, as well as computers, routers and recorded media. Cables and adapters come in hundreds of different formats and their quality and reliability is critical to the impact of any AV presentation.
You can improve your chances of getting approved for AV equipment financing by preparing in advance. Key tasks to take care of include:
No matter if you’re seeking your first audio visual equipment loan or you’re a seasoned borrower, working with business finance experts can make all the difference when applying for funding. Contact Swoop to discuss your borrowing needs, get help with your application and to compare high-quality AV equipment finance deals from a choice of lenders. Give your business the star treatment – get the best AV equipment in town. Register with Swoop today.
Written by
Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Barclays Bank, Metro Bank, Wells Fargo, ABN Amro, Quidco, Legal and General, Inshur Zego, AIG, Met Life, State Farm, Direct Line, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of consumer and business finance and insurance.
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