[Federal Register Volume 79, Number 140 (Tuesday, July 22, 2014)]
[Notices]
[Page 42622]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-17202]


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SMALL BUSINESS ADMINISTRATION


Data Collection Available for Public Comments

ACTION: 60-Day notice and request for comments.

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SUMMARY: The Small Business Administration (SBA) intends to request 
approval, from the Office of Management and Budget (OMB) for the 
collection of information described below. The Paperwork Reduction Act 
(PRA) of 1995, 44 U.S.C. Chapter 35 requires federal agencies to 
publish a notice in the Federal Register concerning each proposed 
collection of information before submission to OMB, and to allow 60 
days for public comment in response to the notice. This notice complies 
with that requirement.

DATES: Submit comments on or before September 22, 2014.

ADDRESSES: Send all comments to Linda Rusche, Director, Office of 
Financial Assistance, Small Business Administration, 409 3rd Street, 
8th Floor, Washington, DC 20416.

FOR FURTHER INFORMATION CONTACT: Linda Reilly, Chief, 504 Loan Program, 
202-205-9949, [email protected], or Curtis B. Rich, Management 
Analyst, 202-205-7030, [email protected].

SUPPLEMENTARY INFORMATION: The Small Business Investment Act authorizes 
SBA to guarantee a debenture issued by a Certified Development Company 
(CDC). The proceeds from each debenture are used to fund loans to 
eligible small business concerns (``504 loans''). 15 U.S.C. 697(a). The 
Small Business Act and the Small Business Investment Act mandate that 
all guaranteed loans provided by the SBA to small business concerns 
(SBCs) must have a reasonable assurance of ability to repay. See 15 
U.S.C. 636(a)(6) and 687(f); see also 13 CFR 120.150. The information 
collections described below--SBA Form 1244 and SBA Form 2450--are part 
of the application process for a 504 loan. SBA is proposing to make 
changes to Form 2450 to remove duplicative questions as well as 
questions that are no longer applicable to the 504 Loan Program.

Solicitation of Public Comments

    SBA is requesting comments on (a) Whether the collection of 
information is necessary for the agency to properly perform its 
functions; (b) whether the burden estimates are accurate; (c) whether 
there are ways to minimize the burden, including through the use of 
automated techniques or other forms of information technology; and (d) 
whether there are ways to enhance the quality, utility, and clarity of 
the information.

Summary of Information Collections

    Title: Application for Section 504 Loan.
    Description of Respondents: Small Business Concerns applying for a 
section 504 loan and Certified Development Companies.
    (i) Form Number: SBA Form 1244, Application for Section 504 Loan. 
The information collected by this form is used to review the 
eligibility of the small business concern (SBC) for SBA financial 
assistance; the creditworthiness and repayment ability of the SBC; and 
the terms and conditions of the 504 loan for which the SBC is applying.
    (ii) Form 2450 is the Eligibility Checklist used to document the 
504 loan's eligibility based on program requirements. These forms are 
used by CDCs to request SBA's guarantee on each debenture.
    SBA has established a streamlined loan application processing 
procedure known as the Abridged Submission Method (ASM). Under this 
process, the CDCs are required to collect and retain all exhibits to 
SBA Form 1244, but are only required to submit selective documents. 
CDCs using the non-ASM method are required to submit all documents and 
exhibits required for Form 1244. All CDCs must submit the Form 2450.
    The burden estimates (based on the experience of the CDCs and SBA 
field offices) of the burden hours imposed by use of these forms, 
including exhibits, are as follows:
    There are 260 CDCs affected by the information collection. The 
total number of small business concerns that will annually respond to 
Form 1244 is approximately 7,000 based on the average submission of 
applications submitted from CDCs over the past FY using both the ASM 
and non-ASM methods. This is a total of 7,260 respondents. Burden hours 
are 2.25 hours for ASM and 2.45 hours for non-ASM submissions (this 
number is slightly higher due to the fact that these respondents are 
required to submit more documentation than the ASM respondents). These 
estimates include the content from SBA Form 2450, which takes an 
estimated 15 minute for completion.

Form 1244

    Total burden hours = 16,799.
    Submission through the ASM--4,937 x 2.25 = 11,108 burden hours.
    Submission through non-ASM (standard method)--2,323 x 2.45 = 5,691 
burden hours.

Form 2450

    Total burden hours = 1,815.
    Submission through the ASM and non-ASM--7,260 x .25 = 1,815 burden 
hours.
    Total Burden Hours = 18,614.

Curtis B. Rich,
Management Analyst.
[FR Doc. 2014-17202 Filed 7-21-14; 8:45 am]
BILLING CODE 8025-01-P