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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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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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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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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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About ABA
American Booksellers Association is a national trade association that supports and advocates for the success of independent bookstores. We provide members with education, networking opportunities, advocacy, resources, and technology. In turn our members support local schools through book fairs, donations and author visits; promote literacy; provide inclusive community centers; connect readers and books; add character to neighborhoods; champion and center diverse and new voices; and contribute to the local economy. We feel honored to support them in their work.
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