Data Collection Available for Public Comments, 68525-68526 [2021-26165]

Agencies

• SMALL BUSINESS ADMINISTRATION

[Federal Register Volume 86, Number 229 (Thursday, December 2, 2021)]
[Notices]
[Pages 68525-68526]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-26165]


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SMALL BUSINESS ADMINISTRATION


Data Collection Available for Public Comments

ACTION: 60-Day notice and request for comments.

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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) of 1995 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 information collection is currently 
approved under emergency procedures, which includes waiver of that 
public comment notice. This publication complies with the PRA 
requirement to publish the waived notice as a prerequisite to 
requesting standard review and approval from OMB.

DATES: Submit comments on or before January 31, 2022.

ADDRESSES: Send all comments via email to [email protected]. 
Comments should refer to the information collection by title or OMB 
Control Number (3245-0407) and be submitted by the deadline above.

FOR FURTHER INFORMATION CONTACT: Adrienne Grierson, Deputy Director 
Office of Financial Program Operations, 202-205-6573, 
[email protected] or Curtis B. Rich, Management Analyst, 202-
205-7030, [email protected].

SUPPLEMENTARY INFORMATION:

Background

    Section 1102 of the Coronavirus Aid, Relief, and Economic Security 
(CARES) Act, Public Law 116-136, authorized SBA to guarantee loans made 
by banks or other financial institutions under a temporary program 
titled the ``Paycheck Protection Program'' (PPP). These loans were 
available to eligible small businesses, certain non-profit 
organizations, veterans' organizations, Tribal business concerns, 
independent contractors, and self-employed individuals adversely 
affected by the COVID-19 Emergency. SBA's authority to guarantee PPP 
loans expired on August 8, 2020. On December 27, 2020, SBA received 
reauthorization under the Economic Aid Act, Public Law 116-260, to 
resume guaranteeing PPP loans through March 31, 2021. The Economic Aid 
Act also allowed certain eligible borrowers that previously received a 
PPP loan to receive a Second Draw PPP loan and amended certain other 
PPP statutory provisions. On March 11, 2021, the American Rescue Plan 
Act, Public Law 117-2, was enacted, amending various PPP statutory 
provisions. On March 30, 2021, the PPP Extension Act of 2021 was 
enacted, extending the SBA's PPP program authority through June 30, 
2021.
    Since the initial approval of this information collection, the 
information collection has been revised to meet the ever-evolving needs 
of the PPP program, as necessitated by statutory program amendments, 
public feedback, or other factors. The information collection is 
currently approved under the emergency procedures authorized by 5 
U.S.C. 3507(j) and 5 CFR 1320.13; this approval is set to expire on 
January 31, 2022.
    Although SBA's PPP program authority has expired, this information 
collection is still needed for the following reasons: (1) PPP borrowers 
may apply for forgiveness of their loans up to the date of loan 
maturity, which may be as late as 2026; (2) SBA may review a PPP loan 
at any time; and (3) pending litigation may require the collection of 
information. Therefore, as required by the Paperwork Reduction Act, SBA 
is publishing this notice as a prerequisite to seeking OMB's approval 
to use this information collection beyond January 31, 2022. There are 
no proposed changes to any of the information to be submitted by 
lenders or borrowers.

Summary of Information Collection

    Title: Paycheck Protection Loan Program Borrower Information Form 
and Lender's Application for Loan Guaranty.
    OMB Control Number: 3245-0407.
    (i) SBA Form 2483, Paycheck Protection Program Borrower Application 
Form, collects information from applicants concerning the ownership of 
the business and from the applicant's owners of 20% or more, the loan 
purpose, any applicable history of prior defaulted government debt 
(except student loan debt), and any applicable criminal history.
    Estimated Number of Respondents: 9,279,434.
    Estimated Annual Responses: 9,279,434.
    Estimated Annual Hour Burden: 1,237,258.
    (ii) SBA Form 2483-C, Paycheck Protection Program Borrower 
Application Form for Schedule C Filers Using Gross Income, collects 
information from applicants concerning the ownership of the business, 
the applicant's gross income, the loan purpose, any applicable history 
of prior defaulted government debt (except student loan debt), and any 
applicable criminal history. This form is used by Schedule C filers 
using gross income to calculate their loan amount instead of SBA Form 
2483.
    Estimated Number of Respondents: 239,160.
    Estimated Annual Responses: 239,160.
    Estimated Annual Hour Burden: 31,888.
    (iii) SBA Form 2484, Lender's Application--Paycheck Protection 
Program Loan Guaranty, collects information from lenders concerning the 
eligibility of the applicant, the applicant's gross income (if 
applicable), and the loan terms and conditions.
    Estimated Number of Respondents: 5,467.
    Estimated Annual Responses: 9,218,594.
    Estimated Annual Hour Burden: 3,841,081.
    (iv) SBA Form 3506, CARES Act Section 1102 Lender Agreement, 
collects information from federally insured depository institutions, 
federally insured credit unions, and Farm Credit System regulated 
agricultural lenders (other than the Federal Agricultural Mortgage 
Corporation) that do not already participate in the 7(a) loan program, 
to evaluate their eligibility to participate in the PPP.

[[Page 68526]]

    Estimated Number of Respondents: 775.
    Estimated Annual Responses: 775.
    Estimated Annual Hour Burden: 129.
    (v) SBA Form 3507, CARES Act Section 1102 Lender Agreement--Non-
Bank and Non-Insured Depository Institution Lenders, collects 
information from depository or non-depository institutions and certain 
service providers that have contracted with insured depository 
institutions to support their lending activities to evaluate their 
eligibility to participate in the PPP.
    Estimated Number of Respondents: 169.
    Estimated Annual Responses: 169.
    Estimated Annual Hour Burden: 70.
    (vi) SBA Form 3508, Paycheck Protection Program--Loan Forgiveness 
Application. A borrower that received a First Draw PPP loan or a Second 
Draw PPP loan submits this completed form or the lender's equivalent 
form to its PPP lender so the lender can determine whether the 
application meets the criteria for loan forgiveness. This form is used 
by borrowers that are not eligible to use the SBA Form 3508EZ and the 
SBA Form 3508S.
    Estimated Number of Respondents: 591,180.
    Estimated Annual Responses: 591,180.
    Estimated Annual Hour Burden: 1,773,539.
    (vii) SBA Form 3508EZ, Paycheck Protection Program--PPP Loan 
Forgiveness Application Form EZ. A borrower that received a First Draw 
PPP loan or Second Draw PPP Loan submits this completed form or the 
lender's equivalent form to its PPP lender so that the lender can 
determine whether the application meets the criteria for loan 
forgiveness. This form is used by borrowers that did not reduce 
employee salary and wages by more than 25 percent during the covered 
period and are not subject to FTE reduction penalties, either because 
they did not reduce FTEs or they qualify for a safe harbor.
    Estimated Number of Respondents: 1,773,539.
    Estimated Annual Responses: 1,773,539.
    Estimated Annual Hour Burden: 591,180.
    (viii) SBA Form 3508S, Paycheck Protection Program--PPP Forgiveness 
Application Form 3508S. A borrower that received a First Draw PPP loan 
or a Second Draw PPP loan of $150,000 or less submits this completed 
form or lender's equivalent form to its PPP lender, either directly or 
through SBA's PPP Platform. The information is used to determine 
whether the application meets the criteria for loan forgiveness.
    Estimated Number of Respondents: 9,458,875.
    Estimated Annual Responses: 9,458,875.
    Estimated Annual Hour Burden: 2,364,719.
    (ix) SBA Form 3508D--Paycheck Protection Program Borrower's 
Disclosure of Certain Controlling Interests. A First Draw PPP Loan 
borrower that received a loan before December 27, 2020, uses this form 
to disclose to SBA that a Covered Individual, as defined in the 
Economic Aid Act, directly or indirectly held a Controlling Interest, 
as defined in the Economic Aid Act, at the time the borrower submitted 
its First Draw PPP Loan application to its PPP lender.
    Estimated Number of Respondents: 350.
    Estimated Annual Responses: 350.
    Estimated Annual Hour Burden: 29.
    (x) [No Form Number] Lender Reporting Requirements Concerning 
Requests for Loan Forgiveness. Lenders participating in the PPP are 
required to submit information to SBA to support the small business' 
requests for forgiveness and the lenders' decisions to approve or deny 
those requests. SBA will use the information to determine borrowers' 
and lenders' compliance with PPP requirements and the appropriate 
amount of loan forgiveness.
    Estimated Number of Respondents: 5,467.
    Estimated Annual Responses: 11,824,000.
    Estimated Annual Hour Burden: 2,107,150.
    (xi) [No Form Number] Lender Reporting Requirements for Loan 
Review. For a PPP loan of any size, SBA may undertake a review at any 
time in SBA's discretion. When a loan is selected for review by SBA, 
lenders are required to submit information that will allow SBA to 
determine whether the loan meets PPP requirements, including borrower 
eligibility, loan amounts, and eligibility for forgiveness. Some of the 
requested information (e.g., loan application, forgiveness application 
and forgiveness supporting documents) will be provided by the borrowers 
to the lenders.
    Estimated Number of Respondents: 5,467.
    Estimated Annual Responses: 2,000,000.
    Estimated Annual Hour Burden: 1,000,000.

Solicitation of Public Comments

    SBA invites the public to submit comments, including specific and 
detailed suggestions on ways to improve the collection and reduce the 
burden on respondents. Commenters should also address (i) whether the 
collection of information is necessary for the agency to properly 
perform its functions, including whether it has any practical utility; 
(ii) whether the burden estimates are accurate; (iii) whether there are 
ways to minimize the information collection burden on those who are 
required to respond, including through the use of automated techniques 
or other forms of information technology; and (iv) whether there are 
ways to enhance the quality, utility, and clarity of the information to 
be collected.

Curtis B. Rich,
Management Analyst.
[FR Doc. 2021-26165 Filed 12-1-21; 8:45 am]
BILLING CODE 8026-03-P