[Federal Register Volume 85, Number 134 (Monday, July 13, 2020)]
[Notices]
[Pages 42063-42064]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-14987]


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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) requires Federal agencies to publish a notice in the Federal 
Register concerning each 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 11, 2020.

ADDRESSES: Send all comments to Cynthia Pitts, Office of Disaster 
Assistance, Small Business Administration, 409 3rd Street, 6th Floor, 
Washington, DC 20416.

FOR FURTHER INFORMATION CONTACT: Cynthia Pitts, Director, Disaster 
Administrative Services, 202-205-7570, [email protected] or Curtis 
B. Rich, Management Analyst, 202-205-7030, [email protected].

SUPPLEMENTARY INFORMATION: Section 7(b) of the Small Business Act, 15 
U.S.C. 636, as amended, authorizes the Small Business Administration to 
make disaster loans to businesses and

[[Page 42064]]

nonprofit organizations, including loans for economic injury. The 
Coronavirus Preparedness and Response Supplemental Appropriations Act, 
2020, Public Law 116-123 (March 6, 2020), amended the Small Business 
Act to make economic injury resulting from the current coronavirus 
pandemic (COVID-19) a disaster that is eligible for assistance under 
section 7(b) of the Small Business Act. The assistance available 
includes an ``advance'' on the loan (that does not have to be repaid) 
in an amount up to $10,000. To expedite the processing time and provide 
immediate financial assistance, SBA obtained emergency approval from 
OMB to collect information from small businesses and nonprofit 
organizations seeking relief from the economic conditions created by 
the COVID-19 emergency. This approval expires on September 30, 2020. 
SBA will be requesting an extension of this approval to enable the 
agency to continue collecting the information necessary to process 
applications for assistance.

(a) Solicitation of Public Comments

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

(b) Summary of Information Collection

    Title: Economic Injury Disaster Loan Application (EIDL) COVID-19.
    OMB Control Number: 3245-0406.
    Respondents: Small businesses, including sole proprietors, 
independent contractors, and agricultural businesses, and nonprofit 
organizations.
    Form Numbers: SBA Form 3501 through Form 3503.
    (i) Form 3501, EID-COVID19 Application. This form is completed by 
all applicants for assistance. SBA estimates 15 million applicants, 
each needing approximately 30 minutes to complete the application. 
Based on one application per applicant, the total estimated burden is 
7.5 million hours. The information requested includes business 
formation type and date; taxpayer's identification number; number of 
employees; information about owners, including their criminal history, 
and suspensions and debarments.
    (ii) Form 3502--Economic Injury Disaster Loan Supporting 
Information. The requested information includes, where applicable, 
gross revenues for the 12 months prior to the disaster, costs of goods 
sold; lost rents due to the disaster; cost of operation for the 12 
month period prior to the disaster; amount and description of 
compensation from other sources as a result of the disaster. The 
information supplements the Form 3501 information and thus is submitted 
by all applicants. SBA estimates 1 hour for completion time, for a 
total of 15 million hours.
    (iii) Form 3503--Verification of Eligible Entity for Emergency EIDL 
Advance. This information is also submitted by all applicants to 
specifically request an advance on their loan and to certify to the 
accuracy of the information submitted on Form 3501 and 3502. SBA 
estimates each 15 million applicants will need about 10 minutes to 
complete the form for a total of 2.5 million hours.

Curtis Rich,
Management Analyst.
[FR Doc. 2020-14987 Filed 7-10-20; 8:45 am]
BILLING CODE 8026-03-P