[Federal Register Volume 63, Number 76 (Tuesday, April 21, 1998)]
[Notices]
[Page 19704]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-10433]


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DEPARTMENT OF AGRICULTURE

Rural Business--Cooperative Service


Notice of Request for Approval of New Information Collection

AGENCY: Rural Business--Cooperative Service, USDA.

ACTION: Proposed collection; comments requested.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this 
notice announces RBS' intention to request approval of information 
collection in support of the Intermediary Relending Program (IRP), 
Rural Business Enterprise Grant Program, and Rural Economic Development 
Grant Program.

DATES: Comments on this notice must be received by June 22, 1998.

FOR FURTHER INFORMATION CONTACT: M. Wayne Stansbery, Loan Specialist, 
Rural Business--Cooperative Service, USDA, STOP 1521, Washington, DC 
20250, Telephone: (202) 720-6819.

SUPPLEMENTARY INFORMATION:
    Title: Survey of revolving loan funds capitalized by USDA Rural 
Development.
    Type of Request: New Information Collection.
    Abstract: The Rural Business--Cooperative Service (RBS), an agency 
within the Rural Development mission area of the United States 
Department of Agriculture, operates several programs that provide funds 
to intermediary organizations (intermediaries) to be used for loans to 
third-party recipients (ultimate recipients). RBS has entered into a 
cooperative agreement with Virginia Polytechnic Institute and State 
University (VA Tech) to develop an automated data base of information 
on ultimate recipient loans.
    Information will be collected from intermediaries about each 
ultimate recipient loan, to identify the borrower, date of the loan, 
loan size, terms, interest rates, collateral, repayment history, 
location, type of business, jobs impacted, other funds leveraged, and 
minority owned businesses assisted.
    The first reason for developing the data base is to analyze the 
feasibility of secondary market sales of the loans held by the 
intermediaries. The data will help to determine whether the loans are 
salable and, if so, under what terms and conditions. If determined 
feasible, secondary market sales of loans will allow intermediaries 
that have received and used money to establish revolving funds to 
recapitalize almost immediately with private funds, rather than waiting 
for term loans to be repaid over time.
    The second reason for creating the data base is to give RBS better 
measures and more accurate and complete information for measuring 
program impact, in accordance with the National Performance and Results 
Act. Without more data on the ultimate recipients, RBS is limited in 
its ability to measure the full impact of programs that operate through 
intermediaries and ultimate recipients.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average 3 hours per response.
    Respondents: Non-profit corporations, public agencies, Indian 
tribes, and cooperatives.
    Estimated Number of Respondents: 550.
    Estimated Number of Annual Responses per Respondent: 1.
    Estimated Total Annual Burden on Respondents: 2750 hours.
    Copies of this information collection can be obtained from Cheryl 
Thompson, Programs Team Information Collection Coordinator, (202) 720-
9750.

Comments

    Comments are invited on: (a) Whether the proposed collection of 
information is necessary for the proper performance of the functions of 
the Agency, including whether the information will have practical 
utility; (b) the accuracy of the agency's estimate of the burden of the 
proposed collection of information including the validity of the 
methodology and assumptions used; (c) ways to enhance the quality, 
utility, and clarity of the information to be collected; and (d) ways 
to minimize the burden of the collection of information on those who 
respond, including through the use of appropriate automated, 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology. Comments may be sent to Cheryl 
Thompson, Regulations and Paperwork Management Branch, U.S. Department 
of Agriculture, Rural Development, STOP 0743, 1400 Independence Avenue, 
SW, Washington, DC 20250-0743. Comments may be submitted via the 
Internet by addressing them to ``C[email protected]'' and must 
contain the word ``revolving'' in the subject. All responses to this 
notice will be summarized and included in the request for OMB approval. 
All comments will become a matter of public record.

    Dated: April 9, 1998.
Dayton J. Watkins,
Administrator, Rural Business--Cooperative Service.
[FR Doc. 98-10433 Filed 4-20-98; 8:45 am]
BILLING CODE 3410-XY-U