View Information Collection Request (ICR) Package

OMB Control No: 3245-0407	ICR Reference No: 202101-3245-008
Status: Historical Active	Previous ICR Reference No: 202101-3245-003
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: 01/19/2021
OIRA Conclusion Action: Approved without change	Conclusion Date: 01/26/2021
Retrieve Notice of Action (NOA)	Date Received in OIRA: 01/19/2021
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2021	6 Months From Approved	07/31/2021
Responses	34,929,702	0	24,529,702
Time Burden (Hours)	9,038,154	0	7,609,879
Cost Burden (Dollars)	335,325,139	0	279,638,603

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 19, 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 emergency review of revisions to the collection of information for the Paycheck Protection Program (PPP), currently approved under OMB Control Number 3245-0407. 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 amendments to the loan forgiveness aspect of the Paycheck Protection Program (PPP) by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (“Economic Aid Act”), Pub. L. 116-260 (December 27, 2020). To effect these amendments, SBA has revised the current forgiveness application forms (Forms 3508, 3508EZ and 3508S) to, among other things, extend their applicability to the new Second Draw PPP Loan Program, and include additional expenses that are eligible for forgiveness. Also, SBA Form 3508S was revised to conform to section 307 of the Economic Aid Act, which requires a simplified forgiveness application for loans of not more than $150,000. In addition, in order to implement a conflict of interest provision in the Economic Aid Act, SBA has added a new form to the collection, SBA Form 3508D, Paycheck Protection Program--Borrower’s Disclosure of Certain Controlling Interests. SBA has determined that these revisions are required prior to the expiration of time periods for the process established under 5 CFR Part 1320. Emergency approval will enable borrowers to begin submitting loan forgiveness applications with the Economic Aid Act changes as quickly as possible and, where applicable, comply with the statutory deadline for making certain conflict of interest disclosures. SBA thanks you for your attention to this matter and looks forward to your approval today. Sincerely, Jihoon Kim Director, Office of Financial Program Operations Office of Capital Acces

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	34,929,702	24,529,702	10,400,000
Annual Time Burden (Hours)	9,038,154	7,609,879	1,428,275
Annual Cost Burden (Dollars)	335,325,139	279,638,603	55,686,536

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: Revision

Annual Cost to Federal Government: $164,068,088

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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