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OMB Control No: 3245-0414	ICR Reference No: 202011-3245-003
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: SBA	Agency Tracking No:
Title: CARES ACT Section 1112 Gross Loan Payment
Type of Information Collection: Existing collection in use without an OMB Control Number	Common Form ICR: No
Type of Review Request: Emergency	Approval Requested By: 12/02/2020
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/03/2020
	Date Received in OIRA: 11/30/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2021	6 Months From Approved
Responses	48,000	0	0
Time Burden (Hours)	12,333	0	0
Cost Burden (Dollars)	355,200	0	0

Abstract: Section 1112 Of Coronavirus Aid Relief, and Economic Security Act (CARES Ac7t), requires SBA to provide debt relief to certain borrowers by paying on their behalf the principal, interest, and any associated fees that they owe on a "covered loan" that is in regular servicing status. Lenders are requested to provide certain information to SBA that would enable the Agency to remit the payments on behalf of eligible borrowers for the covered period for compliance.

Emergency Justfication: November 25, 2020 Susan Minson OMB Desk Officer Office of lnformation and Regulatory Affairs Office of Management and Budget 725 17th Street, NW Washington, DC 20503 Dear Ms. Minson: Pursuant to the Office of Management and Budget (0MB) procedures established at 5 CFR 1320, the Small Business Administration (SBA) requests that the collection of information associated with payments to 7(a) Lenders under Section 1112 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act be processed in accordance with section 1320.13, Emergency Processing, by December 2, 2020. To assist in addressing the drastic decrease in economic activity created by the COVID-19 pandemic, Section 1112 requires SBA to pay the principal, interest and associated fees that are owed for a 6-month period on certain loans issued under SBA’s 7(a), 504, and Microloan Programs. In order for SBA to make these loan payments in SBA’s 7(a) Loan Program in an accurate and timely manner, SBA created a form that 7(a) Lenders are required to submit to SBA on a monthly basis to provide the loan information necessary for the Agency to make the Section 1112 payments on behalf of borrowers. It has come to light that this Lender reporting requirement has not been submitted to OMB for review and approval. The need for this information will continue until at least the spring of 2021 and longer if the benefit is extended by pending legislation. Given the ongoing need to make the payments, SBA is asking for emergency review of the “Section 1112 Gross Loan Payment Template” to enable SBA to continue to collect the information without further violation. SBA has determined that this information must be collected prior to the expiration of time periods established under Part 1320, and that this information is essential to SBA's ability to provide the debt relief required by that section to certain SBA borrowers. Delaying the payments while the Agency pursues standard processing procedures would cause harm to the 7(a) Lenders who are depending on the payments, as well as to the borrowers who could either default on payments or be forced to use limited resources to make such payments. SBA also requests a waiver from the requirement to publish the public comment notice in the Federal Register before seeking review. Sincerely, Jihoon Kim Director SBA Office of Financial Program Operations

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
CARES Act Section 112 Subsidy Relief Program

ICR Summary of Burden

	Total Approved	Change Due to Agency Discretion
Annual Number of Responses	48,000	48,000
Annual Time Burden (Hours)	12,333	12,333
Annual Cost Burden (Dollars)	355,200	355,200

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: New Collection

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]? Yes

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

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