Notice2021-16014
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 29, 2021
Issuing agencies
Small Business Administration
Abstract
The Small Business Administration (SBA) is publishing this notice in compliance with the Paperwork Reduction Act (PRA) of 1995, as amended, to solicit public comments on the information collection described below. The PRA requires publication of this notice before submitting the information collection to the Office of Management and Budget (OMB) for review and approval.
Full Text
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<title>Federal Register, Volume 86 Issue 143 (Thursday, July 29, 2021)</title>
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[Federal Register Volume 86, Number 143 (Thursday, July 29, 2021)]
[Notices]
[Pages 40894-40896]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-16014]
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SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public Comments
AGENCY: Small Business Administration
ACTION: 60-Day notice; request for comments.
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SUMMARY: The Small Business Administration (SBA) is publishing this
notice in compliance with the Paperwork Reduction Act (PRA) of 1995, as
amended, to solicit public comments on the information collection
described below. The PRA requires publication of this notice before
submitting the information collection to the Office of Management and
Budget (OMB) for review and approval.
DATES: Submit comments on or before September 27, 2021.
ADDRESSES: Comments should refer to the information collection by title
or OMB Control Number (3245-0407) and submitted by the deadline above
to: <a href="/cdn-cgi/l/email-protection#f7a7a7a7a8be999198a8b4989b9b9294839e989984b7849596d9909881"><span class="__cf_email__" data-cfemail="99c9c9c9c6d0f7fff6c6daf6f5f5fcfaedf0f6f7ead9eafbf8b7fef6ef">[email protected]</span></a>.
FOR FURTHER INFORMATION CONTACT: You may obtain information including a
copy of the forms and supporting documents from the Agency Clearance
Officer, Curtis Rich, at (202) 205-7030, or <a href="/cdn-cgi/l/email-protection#b6d5c3c4c2dfc598c4dfd5def6c5d4d798d1d9c0"><span class="__cf_email__" data-cfemail="f0938582849983de82999398b0839291de979f86">[email protected]</span></a>, or
from Adrienne Grierson, Program Manager, Office of Financial Program
Operations, at 202-205-6573, or <a href="/cdn-cgi/l/email-protection#a2c3c6d0cbc7ccccc78cc5d0cbc7d0d1cdcce2d1c0c38cc5cdd4"><span class="__cf_email__" data-cfemail="771613051e121919125910051e12050418193704151659101801">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
Background
Section 1102 of the Coronavirus Aid, Relief, and Economic Security
(CARES) Act, Public Law 116-136, authorized SBA to guarantee loans made
by banks or other financial institutions under a temporary program
titled the ``Paycheck Protection Program'' (PPP). These loans were
available to eligible small businesses, certain non-profit
organizations, veterans' organizations, Tribal business concerns,
independent contractors, and self-employed individuals adversely
impacted by the COVID-19 Emergency. SBA's authority to guarantee PPP
loans expired on August 8, 2020. On December 27, 2020, SBA received
reauthorization under the Economic Aid Act, Public Law 116-260, to
resume guaranteeing PPP loans through March 31, 2021. The Economic
[[Page 40895]]
Aid Act also allowed certain eligible borrowers to receive a second
draw PPP loan and amended certain other PPP statutory provisions. On
March 11, 2021, the American Rescue Plan Act, Public Law 117-2, was
enacted, amending various PPP statutory provisions. On March 30, 2021,
the PPP Extension Act of 2021 was enacted, extending the SBA's PPP
program authority through June 30, 2021.
Subject to certain limitations, proceeds of a PPP loan may be used
for payroll costs, costs related to the continuation of group health
care, life, disability, vision or dental benefits during periods of
paid sick, medical or family leave and group health care, life,
disability, vision, or dental insurance premiums, mortgage interest
payments, rent payments, utility payments, interest payments on other
debt incurred prior to February 15, 2020, refinancing of an eligible
SBA Economic Injury Disaster Loan, covered operations expenditures,
covered property damage costs, covered supplier costs, and covered
worker protection expenditures. Under section 7A of the Small Business
Act, a PPP loan may be forgiven in full or in part if the PPP borrower
used the proceeds for the eligible purposes during the loan forgiveness
covered period.
Since the initial approval on April 6, 2020, this information
collection has been amended multiple times to meet the ever-evolving
needs of the program, as necessitated by statutory program amendments,
public feedback, or other factors. The information collection is
currently approved under the emergency procedures authorized by 44
U.S.C. 3507(j) and 5 CFR 1320.13; this approval is set to expire on
September 30, 2021. As required by the Paperwork Reduction Act, SBA is
publishing this notice as a prerequisite to seeking OMB's approval to
use this information collection beyond September 30, 2021.
SBA has received multiple comments on this information collection.
A substantial number of the commenters focused almost exclusively on
SBA Form 3509, ``Loan Necessity Questionnaire (For-Profit Borrowers)''
and SBA Form 3510, ``Loan Necessity Questionnaire (Non-Profit
Borrowers)'' and urged SBA to remove them from the collection and not
impose additional reporting requirements on Borrowers. After extensive
evaluation, SBA is discontinuing the use of these two forms.
Because SBA's authority to guarantee PPP loans expired on June 30,
2021, SBA will no longer be approving new lenders to participate in
PPP. For that reason, SBA is removing SBA Form 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.''
Except for the four forms identified above, all other components of
this information collection will still be needed for various reasons,
including reporting by lenders, ongoing loan reviews and requests for
loan forgiveness. SBA is proposing to make the following amendments to
the information to be collected after expiration of the program
authority:
(A) SBA Form 3508, ``Paycheck Protection Program, Loan Forgiveness
Application Form 3508'' and Instructions; SBA Form 3508EZ ``Paycheck
Protection Program, PPP Loan Forgiveness Application Form 3508EZ'' and
Instructions; and SBA Form 3508S, ``Paycheck Protection Program, PPP
Loan Forgiveness Application Form 3508S'' and Instructions:
<bullet> Revise to reflect changes made to the calculation of
payroll costs by Schedule C filers under the interim final rule titled
``Business Loan Program Temporary Changes; Paycheck Protection Program
Revisions to Loan Amount Calculation and Eligibility'' (86 FR 13149,
March 8, 2021).
<bullet> Revise to incorporate payroll cost exclusions required by
the American Rescue Plan Act.
<bullet> Add fields to capture the amount and date of a loan
increase.
<bullet> Delete the question (and related instructions) asking if
the borrower together with affiliates has $2 million or more in PPP
loans.
<bullet> Add Individual Taxpayer Identification Number (ITIN) to
the header of the ``Business TIN'' field.
<bullet> Relocate the optional demographic information collection
box to earlier in the form.
(B) SBA Form 3508S, ``Paycheck Protection Program, PPP Loan
Forgiveness Application Form 3508S'' and Instructions only:
<bullet> Identify data fields that will be pre-populated when a PPP
borrower submits an electronic version of the SBA Form 3508S via SBA's
Paycheck Protection Platform (SBA's Platform).
<bullet> Add instructions regarding submission of an electronic
version of the SBA Form 3508S via SBA's Platform.
<bullet> Add information about use of a COVID Revenue Reduction
Score.
(C) SBA Form 3508D, ``Paycheck Protection Program, Borrower's
Disclosure of Certain Controlling Interests'':
<bullet> Revise to allow for direct borrower submission of the form
via SBA's Platform.
(D) [No Form Number] ``Lender Reporting Requirements Concerning
Requests for Loan Forgiveness'':
<bullet> Provide an optional process for lenders to allow their PPP
borrowers to submit an electronic version of SBA Form 3508S through
SBA's Platform.
<bullet> Provide an optional process for lenders to use SBA's
Platform to perform reviews of, issue forgiveness decisions on, and
request forgiveness payments on SBA Form 3508S forgiveness applications
submitted by their PPP borrowers.
<bullet> Provide an optional process for lenders to obtain and use
a COVID Revenue Reduction Score to confirm revenue reduction for
certain Second Draw PPP Loan borrowers.
(E) [No Form Number] ``Lender Reporting Requirements for Loan
Review'':
<bullet> Delete requirement for SBA to review all loans of $2
million or more.
Summary of Information Collection
Title: Paycheck Protection Loan Program Borrower Information Form
and Lender's Application for Loan Guaranty.
OMB Control Number: 3245-0407.
(I) SBA FORM 2483--PAYCHECK PROTECTION PROGRAM BORROWER APPLICATION
Estimated Number of Respondents: 9,279,434.
Estimated Annual Responses: 9,279,434.
Estimated Annual Hour Burden: 1,237,258.
(II) SBA FORM 2483-C--PAYCHECK PROTECTION PROGRAM BORROWER APPLICATION
FOR SCHEDULE C FILERS USING GROSS INCOME
Estimated Number of Respondents: 239,160.
Estimated Annual Responses: 239,160.
Estimated Annual Hour Burden: 31,888.
(III) SBA FORM 2484--PAYCHECK PROTECTION PROGRAM LENDER'S APPLICATION
FOR 7(A) GUARANTY
Estimated Number of Respondents: 5,467.
Estimated Annual Responses: 9,218,594.
Estimated Annual Hour Burden: 3,841,081.
[[Page 40896]]
(IV) SBA FORM 3508--PAYCHECK PROTECTION PROGRAM--LOAN FORGIVENESS
APPLICATION
Estimated Number of Respondents: 591,180.
Estimated Annual Responses: 591,180.
Estimated Annual Hour Burden: 1,773,539.
(V) SBA FORM 3508S, PAYCHECK PROTECTION PROGRAM--PPP LOAN FORGIVENESS
APPLICATION FORM 3508S
Estimated Number of Respondents: 9,458,875.
Estimated Annual Responses: 9,458,875.
Estimated Annual Hour Burden: 2,364,719.
(VI) SBA FORM 3508EZ--PAYCHECK PROTECTION PROGRAM--PPP LOAN FORGIVENESS
APPLICATION
Estimated Number of Respondents: 1,773,539.
Estimated Annual Responses: 1,773,539.
Estimated Annual Hour Burden: 591,180.
(VII) [FORM NUMBER N/A] LENDER REPORTING REQUIREMENTS CONCERNING
REQUESTS FOR LOAN FORGIVENESS
Estimated Number of Respondents: 5,467.
Estimated Annual Responses: 11,823,594.
Estimated Annual Hour Burden: 2,107,121.
(VIII) [FORM NUMBER N/A] LENDER REPORTING REQUIREMENTS FOR SBA LOAN
REVIEWS
Estimated Number of Respondents: 5,467.
Estimated Annual Responses: 2,000,000.
Estimated Annual Hour Burden: 1,000,000.
Solicitation of Public Comments
SBA invites the public to submit comments, including specific and
detailed suggestions on ways to improve the collection and reduce the
burden on respondents. Commenters should also address (i) whether the
information collection is necessary for the proper performance of SBA's
functions, including whether it has any practical utility; (ii) the
accuracy of the estimated burdens; (iii) ways to enhance the quality,
utility, and clarity of the information to be collected; and (iv) the
use of automated collection techniques or other forms of information
technology to minimize the information collection burden on those who
are required to respond.
Curtis Rich,
Management Analyst.
[FR Doc. 2021-16014 Filed 7-28-21; 8:45 am]
BILLING CODE 8026-03-P
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