[Federal Register Volume 85, Number 207 (Monday, October 26, 2020)]
[Notices]
[Pages 67809-67810]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-23594]


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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 seeking approval 
from the Office of Management and Budget (OMB) for the information 
collection described below. In accordance with the Paperwork Reduction 
Act (PRA) and OMB procedures, SBA is publishing this notice to allow 
all interested members of the public an additional 30 days to provide 
comments on the proposed collection of information.

DATES: Submit comments on or before November 25, 2020.

ADDRESSES: Comments should refer to the information collection by title 
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: You may obtain a copy of the information collection and 
supporting documents from the Agency Clearance Officer.

SUPPLEMENTARY INFORMATION: Section 1102 of the Coronavirus Aid, Relief, 
and Economic Security (CARES) Act, Public Law 116-136, authorizes SBA 
to guarantee loans made by banks or other financial institutions under 
a new temporary program titled the ``Paycheck Protection Program'' 
(PPP). These loans are available to eligible small businesses, certain 
non-profit organizations, veterans' organizations, Tribal business 
concerns, independent contractors, and self-employed individuals 
adversely impacted by the COVID-19 Emergency. Proceeds of a PPP loan 
may be used for payroll costs, costs related to the continuation of 
group health care benefits during periods of paid sick, medical or 
family leave, and insurance premiums, mortgage interest payments, rent 
payments, utility payments, interest payments on other debt incurred 
prior to February 15, 2020, and to refinance an eligible SBA Economic 
Injury Disaster Loan. Under section 1106(b) of the CARES Act, a loan 
may be forgiven in full or in part if the PPP borrower uses the 
proceeds for payroll costs, payment of interest on a covered mortgage, 
payment on any covered rent obligation, and any covered utility 
payment.
    In order to make the financial assistance available as 
expeditiously as possible after the PPP was authorized, SBA obtained 
emergency approval of this information collection. As required by the 
PRA, SBA is submitting the information collection to OMB for standard 
(non-emergency) review and approval to use the information

[[Page 67810]]

collection beyond the emergency expiration date, October 31, 2020.

Solicitation of Public Comments

    Comments on this information collection may be submitted to the 
addresses listed above 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.
    Title: Paycheck Protection Program.
    OMB Control Number: 3245-0407.

    (i) SBA Form 2483, Paycheck Protection Program Borrower Application 
Form.
    Estimated Number of Respondents: 6,500,000.
    Estimated Annual Responses: 6,500,000.
    Estimated Annual Hour Burden: 866,667.

    (ii) SBA Form 2484, Paycheck Protection Program Lender's 
Application for 7(a) Guaranty.
    Estimated Number of Respondents: 5,200,000.
    Estimated Annual Responses: 5,200,000.
    Estimated Annual Hour Burden: 2,171,720.
    (iii) SBA Form 3506--CARES Act Section 1102 Lender Agreement.
    Number of Respondents: 751.
    Total Annual Responses: 751.
    Estimated Annual Hour Burden: 125.

    (iv) SBA Form 3507--CARES Act Section 1102 Lender Agreement--Non-
Bank and Non-Insured Depository Institution Lender.
    Number of Respondents: 147.
    Number of Responses: 147.
    Total Estimated Annual Hour Burden: 61.

    (v) SBA Form 3508--Paycheck Protection Program--Loan Forgiveness 
Application.
    Estimated Number of Respondents: 1,303,000.
    Estimated Annual Responses: 1,303,000.
    Estimated Annual Hour Burden: 3,909,096.

    (vi) SBA Form 3508S, Paycheck Protection Program--PPP Loan 
Forgiveness Application Form 3508S.
    Estimated Number of Respondents: 3,574,000.
    Estimated Annual Responses: 3,574,000.
    Estimated Annual Hour Burden: 893,500.

    (vii) SBA Form 3508EZ--Paycheck Protection Program--PPP Loan 
Forgiveness Application Form 3508EZ.
    Estimated Number of Respondents: 335,096.
    Estimated Annual Responses: 335,096.
    Estimated Annual Hour Burden: 111,699.

    (viii) [Form Number N/A] Lender Reporting Requirements Concerning 
Requests for Loan Forgiveness.
    Estimated Number of Respondents: 5,200,000.
    Estimated Annual Responses: 5,200,000.
    Estimated Annual Hour Burden: 1,330,957.

    (ix) [Form Number N/A] Lender Reporting Requirements for SBA Loan 
Reviews.
    Estimated Number of Respondents: 1,950,000.
    Estimated Annual Responses: 1,950,000.
    Estimated Annual Hour Burden: 975,000.

    (x) SBA Form 3509--Loan Necessity Questionnaire (For-Profit 
Borrowers).
    Estimated Number of Respondents: 42,000.
    Estimated Annual Responses: 42,000.
    Estimated Annual Hour Burden: 67,833.

    (xi) SBA Form 3510--Loan Necessity Questionnaire (Non-Profit 
Borrowers).
    Estimated Number of Respondents: 10,000.
    Estimated Annual Responses: 10,000.
    Estimated Annual Hour Burden: 9,167.

Curtis Rich,
Management Analyst.
[FR Doc. 2020-23594 Filed 10-23-20; 8:45 am]
BILLING CODE 8026-03-P