Economic Stimulus

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01 Jul

SBA Clarifies Debts Eligible Under ARC Loans

The Small Business Administration (SBA) has recently answered a question regarding which loans and debts qualify for payment under an American Recovery Capital (ARC) loan.

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25 Jun

SBA Announces Changes to the 504 Loan Program

Small businesses seeking to expand will be able to refinance existing loans used to purchase real estate and other fixed assets as a result of permanent changes to the U.S. Small Business Administration's 504 Certified Development Company loan program.

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17 Jun

Small Businesses Can Now Apply for ARC Loans

On June 15, the U.S. Small Business Administration (SBA) began accepting loans for a temporary new program called America's Recovery Capital (ARC). ARC loans of up to $35,000 are designed to give viable small businesses suffering immediate financial hardship some temporary financial relief so they can keep their doors open and get their cash flow back on track.

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04 Jun

Access to Capital and Healthcare Reform Hot Topics at ABA's Small Biz Session

On Saturday, May 30, at BookExpo America, more than 55 booksellers attended the American Booksellers Association session "How SBA and the Federal Stimulus Package Can Help Your Business" in the hopes of finding solutions to a wide range of issues currently facing small businesses in tough economic times, from access to capital to affordable healthcare.

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20 May

Small Business Administration Rolls Out New Loan Program

Booksellers can hear about the ways that they can gain access to capital at BEA session on the Economic Stimulus Package

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14 May

Recovery Act Spurring Loan Activity to Small Businesses

Booksellers can learn how to gain access to capital at BEA session on the Economic Stimulus Package

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07 May

SBA Chief of Staff to Speak at New ABA Session at BEA

Ana M. Ma, chief of staff at the U.S. Small Business Administration, will be one of the featured speakers at a new ABA session at BookExpo America, "How SBA and the Federal Stimulus Package Can Help Your Business," to be held Saturday, May 30, from 10:30 a.m. - noon, at the Javits Convention Center.

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09 Apr

ABA Requests Meeting With New SBA Administrator

Late last week, the American Booksellers Association sent congratulations to Karen Gordon Mills on her confirmation as Administrator of the U.S. Small Business Administration (SBA) and requested a meeting to discuss issues specifically affecting independent bookstores. Mills' appointment was confirmed unanimously by the Senate on Thursday evening, April 2.

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02 Apr

ABA Voices Support for Karen Gordon Mills to Head SBA

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25 Mar

Senate to Hold Confirmation Hearing for SBA Head

On Wednesday, April 1, the chair of U.S. Senate Committee on Small Business and Entrepreneurship, Sen. Mary Landrieu (D-LA), will hold a hearing on President Barack Obama's nomination of Karen Gordon Mills to be administrator of the Small Business Administration.

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05 Mar

SBA Responds to Concerns Regarding 'Goodwill' Financing

The Small Business Administration (SBA) has announced that it is accommodating concerns raised regarding new limits on "goodwill" financing. "Goodwill" is the difference between what a buyer pays for an existing business and the book or fair market value of the assets of the business (e.g., a value based on the "expected continued customer patronage due to its name, reputation, or any other factor," as defined by H&R Block).

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26 Feb

SBA Moves Forward on Promise to Help Small Businesses

This week, the Small Business Administration (SBA) began the process of providing details to small businesses on the ways they can benefit from provisions in the American Recovery and Reinvestment Act of 2009, signed into law by President Obama on February 17. In addition, in his speech to Congress on Tuesday, February 24, the President said his administration would work to provide affordable healthcare and open up credit lines for small businesses.

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19 Feb

Stimulus Act to Help Small Businesses With Loans

On Tuesday, February 17, in Denver, President Obama signed the American Recovery and Reinvestment Act of 2009 into law. Importantly for booksellers, the bill, which had been approved by Congress on Friday, February 13, includes key provisions supporting small businesses, including a package of loan fee reductions and higher guarantees, new and enhanced SBA programs, secondary market incentives, and tax cuts.

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18 Feb

SBA Warns of Economic Stimulus Fraud

The U.S. Small Business Administration has issued a scam alert warning small businesses not to respond to letters falsely claiming to have been sent by the SBA that ask for bank account information in order to qualify them for federal tax rebates.

The fraudulent letters, which appear to be on SBA letterhead, advise recipients that they may be eligible for a tax rebate under the Economic Stimulus Act. The letter asks the small business to provide the name of its bank and account number.

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The American Booksellers Association, a national not-for-profit trade organization, works with booksellers and industry partners to ensure the success and profitability of independently owned book retailers, and to assist in expanding the community of the book.

Independent bookstores act as community anchors; they serve a unique role in promoting the open exchange of ideas, enriching the cultural life of communities, and creating economically vibrant neighborhoods.

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