The American Bankers Association (ABA) has launched a radio advertising campaign urging small businesses to apply for Paycheck Protection Program (PPP) loans. The advertisement is airing on 60 stations in 14 states and the District of Columbia. The ABA also plans to use digital advertising on streaming music services, podcasts, and other online platforms, including a paid social media campaign.
“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 in a release. “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.”
The ads specifically target small businesses in underrepresented communities which have not yet participated in the PPP. Radio spots will air in Alabama, Arkansas, Arizona, California, Colorado, Georgia, Maryland, Missouri, New Mexico, New York, North Carolina, Ohio, Texas, Washington, and Washington, D.C., and are co-branded with respective state bankers associations. Ads will also run on Spanish-language stations.
“State bankers associations around the country are pleased to partner with ABA in this important effort,” Peter Gwaltney, president and CEO of the North Carolina Bankers Association and the current chair of ABA’s State Association Alliance, said. “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.”