[Federal Register Volume 87, Number 53 (Friday, March 18, 2022)]
[Notices]
[Page 15482]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-05739]


-----------------------------------------------------------------------

SMALL BUSINESS ADMINISTRATION


Data Collection Available for Public Comments

AGENCY: Small Business Administration.

ACTION: 60-Day notice and request for comments.

-----------------------------------------------------------------------

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 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 May 17, 2022.

ADDRESSES: Send all comments to Jermaine Perry, Management Analyst, 
Office of Surety Guarantee, Small Business Administration, Washington, 
DC 20416.

FOR FURTHER INFORMATION CONTACT: Jermaine Perry, Management Analyst, 
Office of Surety Guarantee, [email protected] 202-401-8275, or 
Curtis B. Rich, Management Analyst, 202-205-7030, [email protected].

SUPPLEMENTARY INFORMATION: Under its Surety Bond Guarantee Program (SBG 
Program), the U.S. Small Business Administration is authorized to 
guarantee a bid bond, payment bond, performance bond, as well as any 
required related ancillary bonds, on a contract issued to a small 
business contractor up to $6.5 million or up to $10 million if a 
Federal contracting officer certifies that SBA's guarantee is 
necessary. See Title IV of the Small Business Investment Act (SBIA), 
part B, 15 U.S.C. 694a et seq. The SBG Program was created to encourage 
surety companies to issue bonds for small business contractors. The 
SBIA authorizes SBA to establish the terms and conditions for providing 
surety bond guarantee assistance and for paying claims resulting from 
any contractor defaults.
    This information collection consists of forms relating to the 
application process for an SBA-guaranteed bond and claims for the 
reimbursement of losses, including SBA Forms 990, 991, 994, 994B, 994F, 
and 994H. Except in the case of SBA Form 994H, SBA uses the information 
to evaluate whether the small business applicant meets the eligibility 
requirements for a surety bond, as well as the likelihood that the 
small business will successfully complete the bonded contract. The 
information collected for this purpose includes: Demographics on all 
owners of the bond applicant, which has no bearing on the credit 
decision; the status of any current or past SBA financial assistance 
provided to the applicant; NAICS code for applicant's industry; 
financial statements; contract amount and nature of contract 
performance; and in the event performance has begun, evidence that 
applicant has paid all suppliers and subcontractors. With respect to 
SBA Form 994H, SBA uses the information collected to evaluate the 
surety's claim for reimbursement of losses. Surety is required to 
provide information regarding the date the small business defaulted on 
the contract; the reason for the default, the amount of any recoveries, 
and any additional information that would support the surety's claim 
for reimbursement.

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

    OMB Control Number: 3245-0007.
    Title: Surety Bond Guarantee Assistance.
    Description of Respondents: Surety Companies.
    Form Number: SBA Form 990, 991, 994B, 994H.
    Total Estimated Annual Responses: 21,046.
    Total Estimated Annual Hour Burden: 3,065.

Curtis Rich,
Management Analyst.
[FR Doc. 2022-05739 Filed 3-17-22; 8:45 am]
BILLING CODE 8026-03-P