Reporting and Recordkeeping Requirements Under OMB Review, 34701-34702 [2020-12173]

Agencies

• SMALL BUSINESS ADMINISTRATION

[Federal Register Volume 85, Number 109 (Friday, June 5, 2020)]
[Notices]
[Pages 34701-34702]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-12173]


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

SMALL BUSINESS ADMINISTRATION


Reporting and Recordkeeping Requirements Under OMB Review

AGENCY: Small Business Administration.

ACTION: 30-Day notice.

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

SUMMARY: The Small Business Administration (SBA) is publishing this 
notice to comply with requirements of the Paperwork Reduction Act (PRA) 
which requires agencies to submit proposed reporting and recordkeeping 
requirements to OMB for review and approval, and to publish a notice in 
the Federal Register notifying the public that the agency has made such 
a submission. This notice also allows an additional 30 days for public 
comments.

DATES: Submit comments on or before July 6, 2020.

ADDRESSES: Comments should refer to the information collection by name 
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: A copy of the Form OMB 83-1, supporting statement, and 
other documents submitted to OMB for review may be obtained from the 
Agency Clearance Officer.

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

[[Page 34702]]

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 and SBA Form 2450--are part of the application process for a 
504 loan. SBA is proposing to make changes to Form 2450 to remove 
duplicative questions as well as questions that are no longer 
applicable to the 504 Loan Program.

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 Collections

    Title: Application for Section 504 Loan.
    Description of Respondents: Small Business Concerns applying for a 
section 504 loan and Certified Development Companies.
    (i) Form Number: SBA Form 1244, Application for Section 504 Loan. 
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.
    (ii) Form 2450 is the Eligibility Checklist used to document the 
504 loan's eligibility based on program requirements. These forms are 
used by CDCs to request SBA's guarantee on each debenture.
    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. All CDCs must submit the Form 2450.
    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 260 CDCs affected by the information collection. The 
total number of small business concerns that will annually respond to 
Form 1244 is approximately 7,000 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 7,260 respondents. Burden hours 
are 2.25 hours for ASM and 2.45 hours for non-ASM submissions (this 
number is slightly higher due to the fact that these respondents are 
required to submit more documentation than the ASM respondents). These 
estimates include the content from SBA Form 2450, which takes an 
estimated 15 minute for completion.

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

Form 1244

Total burden hours = 16,799
Submission through the ASM--4,937 x 2.25 = 11,108 burden hours
Submission through non-ASM (standard method)--2,323 x 2.45 = 5,691 
burden hours

Form 2450

Total burden hours = 1,815
Submission through the ASM and non-ASM--7,260 x .25 = 1,815 burden 
hours

Curtis Rich,
Management Analyst.
[FR Doc. 2020-12173 Filed 6-4-20; 8:45 am]
 BILLING CODE 8026-03-P