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:
202105-3245-002
Status:
Historical Active
Previous ICR Reference No:
202005-3245-004
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:
06/14/2021
OIRA Conclusion Action:
Approved with change
Conclusion Date:
06/28/2021
Retrieve Notice of Action (NOA)
Date Received in OIRA:
05/24/2021
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2021
6 Months From Approved
07/31/2023
Responses
7,119
0
6,008
Time Burden (Hours)
19,204
0
13,334
Cost Burden (Dollars)
840,042
0
0
Abstract:
Respondents are applicants for a Certified Development Company (CDC) loan (or 504 loan) and the CDC's certified by SBA to issue such loans. The information is necessary for the Small Business Administration (SBA) to determine whether applicants meet the Agency's criteria for eligibility, creditworthiness, and repayment ability, and also whether to approve CDC's request for debenture guarantees.
Emergency Justfication:
May 24, 2021 Susan Minson OMB Desk Officer Office of Information 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 the application form for a 504 loan (SBA Form 1244) be processed in accordance with section 1320.13, emergency Processing, by June 14, 2021. The application form needs to be updated as soon as possible to incorporate the changes made by Section 328(a) of the Economic Aid to Hard Hit Small Businesses, Nonprofits, and Venues Act (the Economic Aid Act) to the criteria for refinancing debt under SBA's 504 Loan Program. Among the changes being made to conform the form to the Economic Aid Act are to add a reference to the alternative job retention goal that the applicant may use when the 504 project does not satisfy the other job creation or retention goals; remove the prohibition against PCLP CDCs using their delegated authority to approve applications for debt refinancing without expansion, except in cases involving same institution debt; and to remove the reference to the requirement that the debt being refinanced must have been incurred within two years of the date of application. SBA is asking for emergency review of SBA Form 1244 to enable SBA to implement the changes made by the Economic Aid Act with respect to debt refinancing. SBA has determined that the information collection must be revised prior to the expiration of time periods established under Part 1320, and that this information is essential to SBA's ability to make debt refinancing, as revised by the Economic Aid Act, available to borrowers in SBA's 504 Loan Program. Delaying implementation of the debt refinancing provisions of the Economic Aid Act would cause harm to the 504 borrowers who are depending on this refinancing. SBA also requests a waiver from the requirement to publish the public comment notice in the Federal Register before seeking review. SBA will publish the required notices before seeking standard review and approval for continued use of this information collection after the emergency period expires. Sincerely, Dianna L. Seaborn Director Office of Financial Assistance
Authorizing Statute(s):
None
Citations for New Statutory Requirements:
US Code: 15 USC 697 Name of Law: 504 and 7(a) Loan Program
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
U.S. Small Business Administration Application for Section 504 Loan
SBA Form 1244
Section 504 Debt Refi EAA
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
7,119
6,008
0
1,111
0
0
Annual Time Burden (Hours)
19,204
13,334
0
5,870
0
0
Annual Cost Burden (Dollars)
840,042
0
0
840,042
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 total estimated annual hour burden has increased since the last submission due to an increase in the total number of small businesses submitting applications during 2020 versus 2019.
Annual Cost to Federal Government:
$622,913
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?
No
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:
05/24/2021
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