[Federal Register Volume 89, Number 135 (Monday, July 15, 2024)]
[Notices]
[Pages 57495-57496]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-15442]


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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 August 14, 2024.

ADDRESSES: Send all comments to Gregorius Suryadi, Senior Financial and 
Loan Specialist, Office of Financial Assistance, Small Business 
Administration, Washington, DC 20416.

FOR FURTHER INFORMATION CONTACT: Gregorius Suryadi, Senior Financial 
and Loan Specialist, 202-205-6806, [email protected] or Curtis 
B. Rich, Agency Clearance Officer, 202-205-7030, [email protected].

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 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 is part of the application 
process for a 504 loan. SBA issued Information Notice under control 
number 5000-20056 on September 30,2020 for the retirement of Form 2450.
    Additionally, in accordance to the National Defense Authorization 
Act (NDAA)/Small Business Runway Extension Act (SBREA) for Fiscal Year 
2022 rule, the SBA will use its administrative discretion to permit 
loan applicants to choose between 3 years and 5 years for receipts-
based size standards, and from 12 months to 24 months for employee-
based size standards. (15 U.S.C. 632(a)(2))

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

    Title: Application for Section 504 Loans.
    Form Number: SBA Form 1244.
    Description of Respondents: Small Business Concerns applying for a 
section 504 loan and Certified Development Companies.
    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.
    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.
    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 200 CDCs affected by the information collection. The 
total number of small business concerns that will annually respond to 
Form 1244 is approximately 7,119 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 7,119 respondents. Burden hours 
are 2.25 hours for PCLP Loan and ALP Express Loan, 2.5 hours for ASM, 
and 3.5 hours for non-ASM submissions.
    Submission through delegated authority: 15 x 2.25 = 34 burden 
hours.

[[Page 57496]]

    Submission through the ASM: 5,695 x 2.5 = 14,238 burden hours.
    Submission through non-ASM (standard method): 1,409 x 3.5 = 4,932 
burden hours.
    Total burden hours: 19,204.
    OMB Control Number: 3245-0071.

Curtis Rich,
Agency Clearance Officer.
[FR Doc. 2024-15442 Filed 7-12-24; 8:45 am]
BILLING CODE 8026-09-P