Notice2021-14118
Data Collection Available for Public Comments
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
July 1, 2021
Issuing agencies
Small Business Administration
Abstract
The Small Business Administration (SBA) intends to request approval, from the Office of Management and Budget (OMB), for the collection of information described below. The Paperwork Reduction Act (PRA) requires federal agencies to publish a notice in the Federal Register concerning each collection of information before submission to OMB and to allow 60 days for public comment in response to the notice. This information collection is currently approved under emergency procedures, which includes waiver of that notice. This publication complies with the PRA requirement to publish the waived notice as a prerequisite to requesting standard review and approval from OMB.
Full Text
<html>
<head>
<title>Federal Register, Volume 86 Issue 124 (Thursday, July 1, 2021)</title>
</head>
<body><pre>
[Federal Register Volume 86, Number 124 (Thursday, July 1, 2021)]
[Notices]
[Pages 35144-35145]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-14118]
-----------------------------------------------------------------------
SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public Comments
ACTION: 60-Day notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Small Business Administration (SBA) intends to request
approval, from the Office of Management and Budget (OMB), for the
collection of information described below. The Paperwork Reduction Act
(PRA) requires federal agencies to publish a notice in the Federal
Register concerning each collection of information before submission to
OMB and to allow 60 days for public comment in response to the notice.
This information collection is currently approved under emergency
procedures, which includes waiver of that notice. This publication
complies with the PRA requirement to publish the waived notice as a
prerequisite to requesting standard review and approval from OMB.
DATES: Submit comments on or before August 30, 2021.
ADDRESSES: Send all comments related to this Federal Register Notice
electronically to <a href="/cdn-cgi/l/email-protection#b98ed8c9d8c0dad1dcdad2d5d6d8d7c9cbd6decbd8d4c8ccdccacdd0d6d7caf9cadbd897ded6cf"><span class="__cf_email__" data-cfemail="a097c1d0c1d9c3c8c5c3cbcccfc1ced0d2cfc7d2c1cdd1d5c5d3d4c9cfced3e0d3c2c18ec7cfd6">[email protected]</span></a>. with the
Subject Line: ``SBA Form 3511 Comments.''
FOR FURTHER INFORMATION CONTACT: Mary Frias, Loan Specialist, at
<a href="/cdn-cgi/l/email-protection#1a777b6863347c68737b695a69787b347d756c"><span class="__cf_email__" data-cfemail="fd909c8f84d39b8f949c8ebd8e9f9cd39a928b">[email protected]</span></a>; 202-401-8234, or Curtis B. Rich, Management
Analyst, 202-205-7030; <a href="/cdn-cgi/l/email-protection#593a2c2b2d302a772b303a31192a3b38773e362f"><span class="__cf_email__" data-cfemail="781b0d0a0c110b560a111b10380b1a19561f170e">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: Section 1102 of the Coronavirus Aid, Relief,
and Economic Security (CARES) Act, Public Law 116-136, authorizes SBA
to guarantee loans made by banks or other financial institutions under
a new temporary 7(a) program titled the ``Paycheck Protection Program''
(``PPP'') to small businesses, certain non-profit organizations,
veterans' organizations, Tribal business concerns, independent
contractors and self-employed individuals adversely impacted by the
Coronavirus Disease (COVID-19) Emergency. This authority initially
expired on August 8, 2020. The Economic Aid to Hard-Hit Small
Businesses, Nonprofits, and Venues Act (Economic Aid Act), Public Law
116-260, renewed SBA's authority to make PPP loans until March 31,
2021, and added authority for Second Draw PPP Loans under Sec.
7(a)(37) of the Small Business Act. The program authority was further
extended until June 30, 2021, by the PPP Extension Act of 2021, Public
Law 117-6.
When they applied for a PPP loan, Borrowers with affiliates, as
defined in SBA's regulations at 13 CFR 121.301(f), were required to
disclose such affiliation and certify that they were eligible to
receive the loan under the SBA's rules in effect at the time the
application was submitted. During any review of a PPP loan, SBA will be
evaluating the borrower's eligibility certification, including its
compliance with size and affiliation requirements. If SBA determines
that additional information is necessary to evaluate the borrower's
eligibility certification, SBA uses this information collection (SBA
Form 3511, Affiliation Worksheet) to collect that supplemental
information from the borrower.
On December 14, 2020, SBA received approval from OMB to collect the
information using Form 3511. On December 27, 2020, the Economic Aid Act
was enacted, which among other things, revised certain PPP requirements
governing borrower eligibility. On March 11, 2021, the American Rescue
Plan Act (ARPA), Public Law 117-2, was enacted, which among other
things, also expanded eligibility for First and Second Draw PPP Loans,
revised the size standard calculation for certain businesses to be on a
per physical location basis, and added affiliation waivers for certain
businesses and organizations. As a result, SBA is making the following
substantive revisions to Form 3511: (a) Adding two additional
affiliation waivers to the table in Part B, Section I for eligible news
organizations and internet-only publishing organizations and adding a
new note to this section stating that the same affiliation waivers
apply to First Draw and Second Draw PPP Loans; (b) adding language to
Section II stating that only the employee-based size standard is
applicable to Second Draw PPP Loans and adding a new note stating the
applicable size standards for Second Draw PPP Loans; (c) revising the
note explaining the size standards applicable to First Draw PPP Loans;
and (d) adding language to notes 9-12, which explain the bases of
affiliation, to provide guidance to assist nonprofit organizations in
applying the affiliation rules. Finally, SBA is revising the format of
the form by changing the footnotes to endnotes to prevent the tables
from breaking across pages and to improve readability of the form. SBA
requested emergency approval of these revisions to ensure affected
borrowers have the information necessary to make informed decisions.
SBA invites the public to provide comments on this information
collection by the deadline stated above. Based on comments received,
the Agency will make further revisions, if necessary. (a) Solicitation
of Public Comments: SBA is requesting comments on (i) Whether the
collection of information is necessary for the agency to properly
perform its functions; (ii) whether the burden estimates are accurate;
(iii) whether there are ways to minimize the burden, including through
the use of automated techniques or other forms of information
[[Page 35145]]
technology; and (iv) whether there are ways to enhance the quality,
utility, and clarity of the information.
(b) Summary of Proposed Information Collection:
Title: Affiliation Worksheet.
Form Number: SBA Form 3511.
OMB Control Number: 3245-0416.
Description of respondents: Paycheck Protection Program Borrowers
and Lenders.
Estimated number of respondents (Borrowers): 37,500.
Estimated time per response: 45 minutes.
Estimated number of respondents (Lenders): 5,000.
Estimated time per response: 15 minutes.
Total estimated annual responses: 42,500.
Total Estimated Annual Hour Burden: 37,500 hours.
Curtis Rich,
Management Analyst.
[FR Doc. 2021-14118 Filed 6-30-21; 8:45 am]
BILLING CODE 8026-03-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on July 1, 2021.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.