Data Collection Available for Public Comments, 16063 [2022-05942]

Agencies

• SMALL BUSINESS ADMINISTRATION

[Federal Register Volume 87, Number 54 (Monday, March 21, 2022)]
[Notices]
[Page 16063]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-05942]


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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) 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 20, 2022.

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

FOR FURTHER INFORMATION CONTACT: Gregorius Suryadi, Financial and Loan 
Specialist, Office of Financial Assistance, [email protected], 
or Curtis B. Rich, Management Analyst, 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 with the National Defense Authorization 
Act (NDAA)/Small Business Runway Extension Act (SBREA) for the 
anticipated Fiscal Year 2022 final rule, the SBA plans to 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.
    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.

Curtis Rich,
Management Analyst.
[FR Doc. 2022-05942 Filed 3-18-22; 8:45 am]
BILLING CODE 8026-03-P