Notice2021-26165
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
December 2, 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) of 1995 requires federal agencies to publish a notice in the Federal Register concerning each proposed 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 public comment 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
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<title>Federal Register, Volume 86 Issue 229 (Thursday, December 2, 2021)</title>
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[Federal Register Volume 86, Number 229 (Thursday, December 2, 2021)]
[Notices]
[Pages 68525-68526]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-26165]
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SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public Comments
ACTION: 60-Day notice and request for comments.
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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) of 1995 requires federal agencies to publish a notice in the
Federal Register concerning each proposed 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
public comment 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 January 31, 2022.
ADDRESSES: Send all comments via email to <a href="/cdn-cgi/l/email-protection#7c2c2c2c2335121a13233f131010191f081513120f3c0f1e1d521b130a"><span class="__cf_email__" data-cfemail="f9a9a9a9a6b0979f96a6ba9695959c9a8d9096978ab98a9b98d79e968f">[email protected]</span></a>.
Comments should refer to the information collection by title or OMB
Control Number (3245-0407) and be submitted by the deadline above.
FOR FURTHER INFORMATION CONTACT: Adrienne Grierson, Deputy Director
Office of Financial Program Operations, 202-205-6573,
<a href="/cdn-cgi/l/email-protection#f79693859e92999992d990859e9285849899b7849596d9909881"><span class="__cf_email__" data-cfemail="7110150318141f1f145f1603181403021e1f310213105f161e07">[email protected]</span></a> or Curtis B. Rich, Management Analyst, 202-
205-7030, <a href="/cdn-cgi/l/email-protection#8ae9fff8fee3f9a4f8e3e9e2caf9e8eba4ede5fc"><span class="__cf_email__" data-cfemail="f1928483859882df83989299b1829390df969e87">[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
affected 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 Aid
Act also allowed certain eligible borrowers that previously received a
PPP loan 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.
Since the initial approval of this information collection, the
information collection has been revised to meet the ever-evolving needs
of the PPP program, as necessitated by statutory program amendments,
public feedback, or other factors. The information collection is
currently approved under the emergency procedures authorized by 5
U.S.C. 3507(j) and 5 CFR 1320.13; this approval is set to expire on
January 31, 2022.
Although SBA's PPP program authority has expired, this information
collection is still needed for the following reasons: (1) PPP borrowers
may apply for forgiveness of their loans up to the date of loan
maturity, which may be as late as 2026; (2) SBA may review a PPP loan
at any time; and (3) pending litigation may require the collection of
information. Therefore, 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 January 31, 2022. There are
no proposed changes to any of the information to be submitted by
lenders or borrowers.
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
Form, collects information from applicants concerning the ownership of
the business and from the applicant's owners of 20% or more, the loan
purpose, any applicable history of prior defaulted government debt
(except student loan debt), and any applicable criminal history.
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 Form for Schedule C Filers Using Gross Income, collects
information from applicants concerning the ownership of the business,
the applicant's gross income, the loan purpose, any applicable history
of prior defaulted government debt (except student loan debt), and any
applicable criminal history. This form is used by Schedule C filers
using gross income to calculate their loan amount instead of SBA Form
2483.
Estimated Number of Respondents: 239,160.
Estimated Annual Responses: 239,160.
Estimated Annual Hour Burden: 31,888.
(iii) SBA Form 2484, Lender's Application--Paycheck Protection
Program Loan Guaranty, collects information from lenders concerning the
eligibility of the applicant, the applicant's gross income (if
applicable), and the loan terms and conditions.
Estimated Number of Respondents: 5,467.
Estimated Annual Responses: 9,218,594.
Estimated Annual Hour Burden: 3,841,081.
(iv) SBA Form 3506, CARES Act Section 1102 Lender Agreement,
collects information from federally insured depository institutions,
federally insured credit unions, and Farm Credit System regulated
agricultural lenders (other than the Federal Agricultural Mortgage
Corporation) that do not already participate in the 7(a) loan program,
to evaluate their eligibility to participate in the PPP.
[[Page 68526]]
Estimated Number of Respondents: 775.
Estimated Annual Responses: 775.
Estimated Annual Hour Burden: 129.
(v) SBA Form 3507, CARES Act Section 1102 Lender Agreement--Non-
Bank and Non-Insured Depository Institution Lenders, collects
information from depository or non-depository institutions and certain
service providers that have contracted with insured depository
institutions to support their lending activities to evaluate their
eligibility to participate in the PPP.
Estimated Number of Respondents: 169.
Estimated Annual Responses: 169.
Estimated Annual Hour Burden: 70.
(vi) SBA Form 3508, Paycheck Protection Program--Loan Forgiveness
Application. A borrower that received a First Draw PPP loan or a Second
Draw PPP loan submits this completed form or the lender's equivalent
form to its PPP lender so the lender can determine whether the
application meets the criteria for loan forgiveness. This form is used
by borrowers that are not eligible to use the SBA Form 3508EZ and the
SBA Form 3508S.
Estimated Number of Respondents: 591,180.
Estimated Annual Responses: 591,180.
Estimated Annual Hour Burden: 1,773,539.
(vii) SBA Form 3508EZ, Paycheck Protection Program--PPP Loan
Forgiveness Application Form EZ. A borrower that received a First Draw
PPP loan or Second Draw PPP Loan submits this completed form or the
lender's equivalent form to its PPP lender so that the lender can
determine whether the application meets the criteria for loan
forgiveness. This form is used by borrowers that did not reduce
employee salary and wages by more than 25 percent during the covered
period and are not subject to FTE reduction penalties, either because
they did not reduce FTEs or they qualify for a safe harbor.
Estimated Number of Respondents: 1,773,539.
Estimated Annual Responses: 1,773,539.
Estimated Annual Hour Burden: 591,180.
(viii) SBA Form 3508S, Paycheck Protection Program--PPP Forgiveness
Application Form 3508S. A borrower that received a First Draw PPP loan
or a Second Draw PPP loan of $150,000 or less submits this completed
form or lender's equivalent form to its PPP lender, either directly or
through SBA's PPP Platform. The information is used to determine
whether the application meets the criteria for loan forgiveness.
Estimated Number of Respondents: 9,458,875.
Estimated Annual Responses: 9,458,875.
Estimated Annual Hour Burden: 2,364,719.
(ix) SBA Form 3508D--Paycheck Protection Program Borrower's
Disclosure of Certain Controlling Interests. A First Draw PPP Loan
borrower that received a loan before December 27, 2020, uses this form
to disclose to SBA that a Covered Individual, as defined in the
Economic Aid Act, directly or indirectly held a Controlling Interest,
as defined in the Economic Aid Act, at the time the borrower submitted
its First Draw PPP Loan application to its PPP lender.
Estimated Number of Respondents: 350.
Estimated Annual Responses: 350.
Estimated Annual Hour Burden: 29.
(x) [No Form Number] Lender Reporting Requirements Concerning
Requests for Loan Forgiveness. Lenders participating in the PPP are
required to submit information to SBA to support the small business'
requests for forgiveness and the lenders' decisions to approve or deny
those requests. SBA will use the information to determine borrowers'
and lenders' compliance with PPP requirements and the appropriate
amount of loan forgiveness.
Estimated Number of Respondents: 5,467.
Estimated Annual Responses: 11,824,000.
Estimated Annual Hour Burden: 2,107,150.
(xi) [No Form Number] Lender Reporting Requirements for Loan
Review. For a PPP loan of any size, SBA may undertake a review at any
time in SBA's discretion. When a loan is selected for review by SBA,
lenders are required to submit information that will allow SBA to
determine whether the loan meets PPP requirements, including borrower
eligibility, loan amounts, and eligibility for forgiveness. Some of the
requested information (e.g., loan application, forgiveness application
and forgiveness supporting documents) will be provided by the borrowers
to the lenders.
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
collection of information is necessary for the agency to properly
perform its functions, including whether it has any practical utility;
(ii) whether the burden estimates are accurate; (iii) whether there are
ways to minimize the information collection burden on those who are
required to respond, including through the use of automated techniques
or other forms of information technology; and (iv) whether there are
ways to enhance the quality, utility, and clarity of the information to
be collected.
Curtis B. Rich,
Management Analyst.
[FR Doc. 2021-26165 Filed 12-1-21; 8:45 am]
BILLING CODE 8026-03-P
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