View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
3245-0071
ICR Reference No:
201404-3245-001
Status:
Historical Active
Previous ICR Reference No:
201402-3245-006
Agency/Subagency:
SBA
Agency Tracking No:
Title:
Application for Section 504 Loan
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Emergency
Approval Requested By:
04/22/2014
OIRA Conclusion Action:
Approved without change
Conclusion Date:
04/21/2014
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/21/2014
Terms of Clearance:
OMB has approved SBA’s information collection request (ICR), ”Application for Section 504 Loan” (3245-0071), for six months. This six month period will allow the use of the two collection instruments: 1)Form 1244 – Application for Section 504 Loan and Form 2450 - Eligibility Information Required for 504 Submission (Non PCLP), including modifications to 2450 due to the recent final rule, “504 and 7(a) Regulatory Enhancements,” (RIN 3245-AG04). During the six month approval SBA will review these two forms to consider ways to, among other things, possibly simplify, reduce duplicative request, clarify what is required for an application verses what is guidance for the lenders. The six month period should include the appropriate 60/30-day public comment process required by the Paperwork Reduction Act.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2014
6 Months From Approved
08/31/2014
Responses
7,000
0
7,000
Time Burden (Hours)
18,614
0
18,480
Cost Burden (Dollars)
0
0
0
Abstract:
SBA request potential borrowers complete Form 1244 when applying for loan. This form collects identifying information about the applicant, CDC, loan request, indebtedness about principals, information about current or previous government financing, and certain other disclosures. The form is completed by the applicant and submitted by a CDC.
Emergency Justfication:
Associated with Final rule 504 7(a) Loan Program Update.
Authorizing Statute(s):
US Code:
15 USC $$636(a) (6) and 687(f)
Name of Law: CDC
Citations for New Statutory Requirements:
US Code: 15 USC 695 Name of Law: 504 and 7(a) Loan Program
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
3245-AG04
Final or interim final rulemaking
79 FR 15641
03/21/2014
Federal Register Notices & Comments
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
U.S. Small Business Administration Application for Section 504 Loan
SBA Form 2450 , SBA Form 1244
Application for Section 504 Loan
,
Eligibility Information Required for 504 Submission (NON PCLP)
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
7,000
7,000
0
0
0
0
Annual Time Burden (Hours)
18,614
18,480
0
134
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The increase is due to the supplemental, Eligibility Information Required for 504 Submission.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
Yes
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Eric Wall 202 616-1825 eric.wall@sba.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
04/21/2014
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