I called the record company, and even though I didn't get the answer I wanted, it wasn't exactly the worst case scenario. He said there wasn't really art or design needed until August, and asked me to email any work I've done recently. I emailed him a link to the poster I made and said they could keep it for free. He was impressed with the design, said he'd definitely keep me in mind for future art needs. I'm not gonna hold my breath on it, though. I'm going to try to find other local labels or bands to pair up with.
I've also decided to stick with Gimp for now, instead of Photoshop. I was able to make a good quality poster without paying tons of money for Photoshop's software. I'll be writing a simple tutorial on how to make a poster (like the one in my last blog post) either tomorrow or the day after.