The American Bankers Association has launched a radio advertising campaign airing on 60 stations in 14 states and the District of Columbia encouraging small businesses that still need help weathering the pandemic to reach out to local banks and apply for a forgivable Paycheck Protection Program loan. The ads, which begin airing today in select markets, specifically target small businesses in underrepresented communities that have not participated in PPP to date. A number of the ads will air on Spanish-language stations.
“Banks of all sizes have provided this vital financial lifeline to millions of small businesses so far, but we know there are still some eligible businesses that could benefit from a PPP loan,” ABA President and CEO Rob Nichols said. “This ad campaign seeks to connect those businesses, particularly in communities hardest hit by the pandemic, with banks in their area eager to provide a helping hand.”
Banks across the nation have stepped up to provide more than 4.6 million PPP loans since the program launched late last year, helping to support more than 48 million jobs. Since the start of the pandemic, banks have provided 87% of all PPP loans.
The radio spots are co-branded with respective state bankers associations and the campaign’s URL — www.aba.com/paycheck — redirects listeners to the Small Business Administration’s interactive website where they can quickly search for local PPP lenders by zip code. The ads will air in Alabama, Arkansas, Arizona, California, Colorado, Georgia, Maryland, Missouri, New Mexico, New York, North Carolina, Ohio, Texas, Washington and Washington D.C.
“State bankers associations around the country are pleased to partner with ABA in this important effort,” said Peter Gwaltney, president and CEO of the North Carolina Bankers Association and the current chair of ABA’s State Association Alliance. “Struggling small businesses in North Carolina and other states need to know that banks are standing by to help. This campaign will help get that message out.”
The radio campaign will be augmented with digital advertising on streaming music services, podcasts and other online platforms. ABA is also launching a paid social media component of the campaign.
The ads can be heard here.