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:
3245-0407
ICR Reference No:
202006-3245-001
Status:
Historical Active
Previous ICR Reference No:
202005-3245-002
Agency/Subagency:
SBA
Agency Tracking No:
Title:
Paycheck Protection Loan Program Borrower Information Form and Lender's Application for Loan Guaranty
Type of Information Collection:
No material or nonsubstantive change to a currently approved collection
Common Form ICR:
No
Type of Review Request:
Emergency
Approval Requested By:
03/30/2020
OIRA Conclusion Action:
Approved without change
Conclusion Date:
06/11/2020
Retrieve Notice of Action (NOA)
Date Received in OIRA:
06/01/2020
Terms of Clearance:
OMB is approving the revision to the existing collection as a non-sub change due to the recent emergency approval of the collection.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2020
10/31/2020
10/31/2020
Responses
27,026,250
0
13,001,500
Time Burden (Hours)
26,837,771
0
23,075,375
Cost Burden (Dollars)
0
0
0
Abstract:
Section 7(a) of the Small Business Act (15 U.S.C. 636) authorizes the Small Business Administration to guarantee loans made by banks or other financial institutions to qualified small businesses in the 7(a) Loan Program. The regulations covering this loan program at 13 CFR Part 120 require loan applicants and lenders to provide certain information that is used to determine program eligibility and compliance. CARES Act PL 116-136 will also cover this program.
Emergency Justfication:
As a result of the drastic decrease in economic activity created by 2019-COVID nationwide, countless small businesses are unable to meet their financial obligations, including payment of employee compensation, mortgage, rent, or utilities. Immediate implementation of the Paycheck Protection Program, including availability of the application forms, is necessary to help these business avoid laying off employees or going out of business. SBA has created two forms to collect the information required to process loan applications under this new guaranteed loan program. Information collected from qualified small businesses applicants will help determine their eligibility for a loan, while information collected from the delegated lenders will be used to determine their compliance with SBA's Loan Program Requirements. Given the short time frame SBA is unable to consult with the public prior to issuing the forms, however the SBA has experience designing other similar forms in a way that is clear and minimizes burden. SBA requests approval of the submission by April 1, 2020. Given the inability to seek public comment during such a short time frame, SBA requests a waiver from the requirement to publish 60-day and 30-day notices in the Federal Register seeking public comment during the period of 0MB review.
Authorizing Statute(s):
None
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
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
Paycheck Protection Loan Program Borrower Information Form and Lender's Application for Loan Guaranty
SBA Form 2483 , SBA Form 2484 , SBA Form 3506 , SBA Form 3507 , SBA Form 3508
Borrower Application
,
Lender Application
,
Agreement for New Lenders Banks
,
Agreement for New Lenders Non Bank
,
Paycheck Protection Program Forgiveness Application
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
27,026,250
13,001,500
0
14,024,750
0
0
Annual Time Burden (Hours)
26,837,771
23,075,375
0
3,762,396
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 burden information has been revised to reflect actual activity in the PPP and to include estimated increases as a result of expected future activity.
Annual Cost to Federal Government:
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
No
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?
Yes
Agency Contact:
Mary Frias 202 401-8234 mary.frias@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:
06/01/2020
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