View Information Collection Request (ICR) Package

OMB Control No: 3245-0407	ICR Reference No: 202101-3245-003
Status: Historical Active	Previous ICR Reference No: 202010-3245-007
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: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Emergency	Approval Requested By: 01/08/2021
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/08/2021
Retrieve Notice of Action (NOA)	Date Received in OIRA: 01/08/2021
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2021	6 Months From Approved	12/31/2023
Responses	24,529,702	0	23,129,282
Time Burden (Hours)	7,609,879	0	7,162,083
Cost Burden (Dollars)	279,638,603	0	263,673,815

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: January 8, 2021 Susan Minson SBA Desk Officer Office of Management and Budget Dear Ms. Minson: Pursuant to the Office of Management and Budget (OMB) procedures established at 5 CFR Part 1320, SBA requests review of revisions to the collection of information for the Paycheck Protection Program (PPP), currently approved under OMB Control Number 3245-0407, in accordance with the emergency processing procedures in section 1320.13. As part of this request for emergency processing, SBA also requests a waiver from the requirement to publish the 60-day and 30-day public comment notices in the Federal Register. The revisions are necessary to implement recent changes to the Paycheck Protection Program (PPP), including reauthorization of the program, by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (“Economic Aid Act”), Pub. L. 116-260 (December 27, 2020). In addition to reauthorizing the program, the Economic Aid Act made other amendments to the PPP, including expanding the categories of eligible loan applicants and uses of loan proceeds, and adjusting the methodology for calculating interest rate on PPP loans. SBA has determined that the additional information required to implement these changes is required prior to the expiration of time periods for the process established under 5 CFR Part 1320. The authority to resume guaranteeing PPP loans expires on March 31, 2021. Without emergency processing, the authority would expire before SBA could collect the information necessary to restart PPP, as amended, and make the critically needed financial assistance available to the eligible small businesses. In order to restart the program and collect the information that would have an immediate impact on applicants and lenders, SBA is only revising the following forms at this time: SBA Form 2483, PPP Borrower Application Form; SBA Form 2484, PPP Lender Application Form; SBA Forms 3506, CARES Act Section 1102 Lender Agreement; and SBA Form 3507, CARES Act Section 1102 Lender Agreement – Non-Bank and Non-Insured Depository Institution Lenders. SBA anticipates that additional revisions will be necessary to this information collection to implement other Economic Aid Act amendments. Sincerely. Jihoon Kim Director, 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

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	24,529,702	23,129,282	1,400,420
Annual Time Burden (Hours)	7,609,879	7,162,083	447,796
Annual Cost Burden (Dollars)	279,638,603	263,673,815	15,964,788

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 total burden hours have increased. This has occurred because SBA is reopening the PPP program for new borrowers as authorized under the Economic Aid Act and will be accepting requests from new lenders for participation in the PPP program, including the Second Draw Program.

Annual Cost to Federal Government: $159,784,083

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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