As part on an ongoing effort to connect Maryland small businesses that may not qualify for traditional bank financing with State resources to help them access credit, the Maryland Department of Business and Economic Development (DBED) is launching a 10-week advertising campaign to promote four of the State's key financing programs that received the first round of $23 million of funding from the federal State Small Business Credit Initiative (SSBCI), part of the Small Business Jobs Act of 2010.  The Financing that Fits campaign, which begins this week and runs through March 31, will be featured in 60-second spots on local radio stations, including WBAL, WOLB, WWIN and WJZ-FM/AM, as well internet ads on Washington Post.com. Expected to reach more than 10 million radio listeners and Post readers, the campaign was created by Baltimore-based Pinnacle Communications and cost $150,000, which includes the ad buys, creation and production.

"The Financing that Fits campaign is part of a larger, ongoing effort by the State to address the needs of the many small businesses that are continuing to struggle to access credit," said DBED Secretary Christian S. Johansson. "These four finance programs received additional federal funds targeted to help small businesses and we want to ensure that the businesses that need such assistance are aware that these programs exist and learn how they can benefit from them."

"As a Maryland business, Pinnacle was excited to create the Financing that Fits campaign," said Pinnacle President Tracey Haldeman. "It was inspiring to hear the variety of success stories from the businesses we interviewed as part of the creative process for this campaign."

The ads profile business owners and bankers who have successfully used Maryland's finance programs, including Baltimore-based Bambeco, a retailer of environmentally friendly products; Environmental Engineering and Construction; and John L. Williams Funeral Home, as well as lender Harbor Bank, which has worked with DBED on several loan guarantee deals.  The ads then drive listeners and readers to the State's economic development website ChooseMaryland.org, which has more information on the programs and provides a form that businesses can fill out which will be evaluated for potential financing by DBED staff.

The DBED programs promoted in the ads are the Maryland Small Business Development Financing Authority (MSBDFA), which provides credit guarantees to small businesses that may not meet established credit criteria; the Maryland Industrial Development Financing Authority (MIDFA), which provides loan guarantees; and the Maryland Venture Fund (MVF), which invests in seed and early stage businesses to help with the cost of bringing a new product to market. Also included in the promotion is a program of the Maryland Department of Housing and Community Development, Neighborhood Business Works, which provides gap financing to new or expanding small business and nonprofits in sustainable communities. In May 2010, Governor Martin O'Malley and U.S. Treasurer Rosie Rios announced as part of a national effort to strengthen existing State finance programs that support lending to small business that Maryland would receive a total of $23 million for these programs, $7 million of which became available in June. Once those funds are expended, the programs can jointly draw down the remaining $16 million.

Last week, DBED launched a new online tool to make it easier and more transparent for businesses and citizens to track financial incentives to Maryland companies and organizations.  Finance Tracker is an on-line searchable database featuring DBED funding awards in 30 categories and is sortable by company, amount, location, program and fiscal year.

Finance Tracker is part of Maryland Made Easy, an ongoing interagency initiative to streamline procedures, simplify regulations and improve communications where business and government intersect. Launched by Governor O'Malley in January 2011, Maryland Made Easy has reformed State Highway Access permit process, unveiled an interactive one-stop shop web site, created a "Fast Track" concurrent permit review application, and awarded a contract to begin converting more than 400 licenses and permits to a web-based application by the end of 2012.

About DBED: The Maryland Department of Business and Economic Development's mission is to attract new businesses, stimulate private investment and create jobs, encourage the expansion and retention of existing companies and provide businesses in Maryland with workforce training and financial assistance. The department promotes the State's many economic advantages and markets local products and services at home and abroad to spur economic development, international trade and tourism.  As a major economic generator, the department also supports the arts, film production, sports and other special events. For more information, visit www.ChooseMaryland.org.