Dear Booksellers, 

Time seems to be speeding up these last days of April. Or maybe it’s just that the construct of time has been disrupted in recent weeks, as days and nights are no longer divided by commutes and weekdays and weekends all feel the same. In the midst of all of the uncertainty, at least there is the certainty of spring. Though it’s cold and rainy here today, I can see a tree across the street that burst open with flowers and color overnight. A sure sign of things to come.

Special Announcements

• Stamped: Racism, Antiracism, and You: A Remix Book Club: We’re excited to announce that every Wednesday in May, authors Jason Reynolds and Ibram X. Kendi will participate in a virtual book club moderated by Hannah Oliver Depp, owner of Loyalty Bookstore in Silver Spring, Maryland, and Washington, D.C., during which they’ll discuss chapters from Stamped: Racism, Antiracism, and You: A Remix of the National Book Award-winning Stamped From the Beginning. Registered participants will have the opportunity to direct questions to Reynolds and Kendi through a virtual Q&A chatbox.
  

  The book club is designed for students but open to all who want to participate; booksellers are invited to promote it to their customers as well as to area educators, for whom there is an educator curriculum available. Additionally, ABA has created a variety of assets that booksellers can use to promote the book club. To get a taste of what’s in store, check out this video of the Wi15 session on Stamped (a BookWeb login is required) featuring Reynolds and Kendi.

  The events will take place from 2:00 p.m. to 3:00 p.m. ET on the following dates: May 6, May 13, May 20, and May 27. A Zoom link will be shared with registrants each morning before the event; the registration link is available now.

• The #SaveIndieBookstores campaign is at $981,645! Binc is extending the deadline for donations through the end of the day on Tuesday, May 5, so the fund can hit a million dollars! Help us spread the word for the final, final stretch!

• The #SIB bookstore application period has ended. Eligible stores will receive checks mid- to late-May.

Advocacy Reminders

• Potential Paycheck Protection Program (PPP) scams: Remember, you can only apply for a PPP loan through a Small Business Administration-approved PPP lender. You cannot apply directly through the SBA’s website (www.sba.gov). Unfortunately, there are bad actors posing as SBA-approved PPP lenders when they are, in fact, not approved lenders. Be on the lookout for potential scams. The safest option is to use the SBA’s PPP lender search tool to find a lender near you.

• Sole proprietors and PPP: Sole proprietors with or without employees can apply for PPP loans. However, if you are a sole proprietor without employees, you must have a net profit in order to be eligible for PPP. See how to calculate your maximum loan amount by business type.

• EIDL grant and PPP interactions: If you have received both an EIDL grant and a PPP loan, remember that the EIDL grant will affect your PPP loan forgiveness. Any proceeds from an EIDL grant will be subtracted from the loan forgiveness amount on the PPP loan. In other words, if your business spends 100 percent of the PPP funds (say, $10,000) on forgivable expenses, but you also receive an EIDL grant (say, $3,000), all $10,000 of the PPP funds will technically be forgiven, but you’ll be required to pay back the $3,000 from the EIDL grant under the PPP loan terms of 1 percent fixed interest over 2 years. Here’s what we currently know about PPP loan forgiveness.

• SBA-resource partners: For advice on COVID-19 financial assistance, reach out your local SBA office or SBA-resource partners (SCORE, Small Business Development Center, Women’s Business Center). They are being trained to walk small businesses through this process and may be able to give you more direction. Find those local resources here.

• Unemployment FAQs: How can I locate my state unemployment office? Am I eligible for unemployment benefits? If I was furloughed and don’t return to work when my employer reopens, can I remain on unemployment benefits? Read this FAQ sheet. Check with your state unemployment office to see if it has implemented increased unemployment benefits from the CARES Act.

Best Practices

• Best Customers: Over the past several weeks, the customers who have been buying from your stores most likely fall into two categories: your best customers, who are committed to helping keep you in business, and new customers who discovered you out of necessity during the crisis. Consider how to nurture these relationships. Your best customers will appreciate personal thank you notes or a galley you think they might like. These are your ambassadors out in the world and their word of mouth and support is the best marketing you can ask for. New customers will appreciate hearing more about your store’s history, how you serve your community, and what your specialties are, and they’ll appreciate a thank you note, personalized recommendations, and a bounceback coupon to visit the store in person at a later date. Throw them all a virtual party! These key customers are critical to the future of your store, and their lifetime value to your store could be significant. Take the time to invest in these relationships now.

• COVID Labor Law: There are a lot of COVID-related considerations and questions when it comes to employees right now. Take a moment to review requirements related to hiring, confidentiality of employee medical information, employee health concerns and accommodations, and employees returning to work. Watch for an upcoming BTW article on privacy issues related to some of these considerations as well.

I hope spring has sprung where you are and that you’re all hanging in there. ABA is here for you. Please reach out if there is anything we can help with. We are an incredibly creative, resilient, supportive industry. We’ll get through this, together. 

Best,
Allison