[Federal Register Volume 87, Number 186 (Tuesday, September 27, 2022)]
[Notices]
[Pages 58634-58635]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-20899]


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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 and OMB procedures, SBA is publishing this notice to allow all 
interested member of the public an additional 30 days to provide 
comments on the proposed collection of information.

DATES: Submit comments on or before October 27, 2022.

ADDRESSES: Written comments and recommendations for this information 
collection request should be sent within 30 days of publication of this 
notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection request by selecting ``Small Business 
Administration''; ``Currently Under Review,'' then select the ``Only 
Show ICR for Public Comment'' checkbox. This information collection can 
be identified by title and/or OMB Control Number.

FOR FURTHER INFORMATION CONTACT: You may obtain a copy of the 
information collection and supporting documents from the Agency 
Clearance Office at [email protected]; (202) 205-7030, or

[[Page 58635]]

from www.reginfo.gov/public/do/PRAMain.

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

    Comments may be submitted 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.
    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: 30,866.
    Total Estimated Annual Hour Burden: 8,647.

Curtis Rich,
Agency Clearance Officer.
[FR Doc. 2022-20899 Filed 9-26-22; 8:45 am]
BILLING CODE 8026-09-P