[Federal Register Volume 85, Number 109 (Friday, June 5, 2020)]
[Notices]
[Pages 34701-34702]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-12173]
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SMALL BUSINESS ADMINISTRATION
Reporting and Recordkeeping Requirements Under OMB Review
AGENCY: Small Business Administration.
ACTION: 30-Day notice.
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SUMMARY: The Small Business Administration (SBA) is publishing this
notice to comply with requirements of the Paperwork Reduction Act (PRA)
which requires agencies to submit proposed reporting and recordkeeping
requirements to OMB for review and approval, and to publish a notice in
the Federal Register notifying the public that the agency has made such
a submission. This notice also allows an additional 30 days for public
comments.
DATES: Submit comments on or before July 6, 2020.
ADDRESSES: Comments should refer to the information collection by name
and/or OMB Control Number and should be sent to: Agency Clearance
Officer, Curtis Rich, Small Business Administration, 409 3rd Street SW,
5th Floor, Washington, DC 20416; and SBA Desk Officer, Office of
Information and Regulatory Affairs, Office of Management and Budget,
New Executive Office Building, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: Curtis Rich, Agency Clearance Officer,
(202) 205-7030 [email protected].
Copies: A copy of the Form OMB 83-1, supporting statement, and
other documents submitted to OMB for review may be obtained from the
Agency Clearance Officer.
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
[[Page 34702]]
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duplicative questions as well as questions that are no longer
applicable to the 504 Loan Program.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.
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 Collection
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
Curtis Rich,
Management Analyst.
[FR Doc. 2020-12173 Filed 6-4-20; 8:45 am]
BILLING CODE 8026-03-P