Notice2025-16690
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
September 2, 2025
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 proposed collection of information before submission to OMB, and to allow 60 days for public comment in response to the notice. This notice complies with that requirement.
Full Text
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<title>Federal Register, Volume 90 Issue 167 (Tuesday, September 2, 2025)</title>
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[Federal Register Volume 90, Number 167 (Tuesday, September 2, 2025)]
[Notices]
[Page 42498]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-16690]
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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) 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 notice complies with that requirement.
DATES: Submit comments on or before November 3, 2025.
ADDRESSES: Send all comments to Cailyn Gerald, <a href="/cdn-cgi/l/email-protection#5734363e3b2e3979303225363b331724353679303821"><span class="__cf_email__" data-cfemail="9ffcfef6f3e6f1b1f8faedfef3fbdfecfdfeb1f8f0e9">[email protected]</span></a>,
409 3rd Street SW, Washington, DC, 20416, Office of Financial Program
Operations, Office of Capital Access, Small Business Administration.
FOR FURTHER INFORMATION CONTACT: Cailyn Gerald, <a href="/cdn-cgi/l/email-protection#b4d7d5ddd8cdda9ad3d1c6d5d8d0f4c7d6d59ad3dbc2"><span class="__cf_email__" data-cfemail="86e5e7efeaffe8a8e1e3f4e7eae2c6f5e4e7a8e1e9f0">[email protected]</span></a>,
(202) 870-3772 and Shauniece Carter, Interim Agency Clearance Officer,
<a href="/cdn-cgi/l/email-protection#8bd8e3eafee5e2eee8eea5e8eaf9ffeef9cbf8e9eaa5ece4fd"><span class="__cf_email__" data-cfemail="93c0fbf2e6fdfaf6f0f6bdf0f2e1e7f6e1d3e0f1f2bdf4fce5">[email protected]</span></a>, (202) 935-6942.
SUPPLEMENTARY INFORMATION: SBA Form 1050, Settlement Sheet is used in
SBA's 7(a) Loan Program to collect information from lenders and
borrowers regarding the disbursement of loan proceeds. SBA relies on
this information during the guaranty purchase review process as a
component in determining whether to honor a loan guaranty. The current
form includes 1050 Settlement Sheet instructions for the lender. The
currently approved form primarily requires the lender and borrower to
certify to whether they complied with a series of loan requirements.
The current form also requires submission of documentation (e.g., joint
payee or cancelled checks, invoices or paid receipts, and wire transfer
records) in support of the certification.
The form will be divided into several sections to clearly identify
the information to be submitted. The form will continue to collect the
same basic identifying information such as loan amount, loan number and
lender's name. In addition, the form will continue to require
certifications from both the lender and borrower regarding compliance
with the disbursement requirements and accuracy of information
submitted. In the section for ``Authorized Use of Proceeds,'' the 1050
Settlement Sheet will include ``Land Acquisitions with or without
improvements'', ``Leasehold Improvements to property owned by applicant
or owned by others'', ``Export Working Capital (EWCP or Export
Express)'', ``Support Standby Letter of Credit (EWCP or Export
Express)'', Refinance Existing (EWCP) or Export LOC (EWCP)'',
``Business Acquisition/Change of Ownership'', ``Pay off SBA Loan, SID
or Other Lender'', ``Pay Notes Payable, SID or Other Lender'', ``Pay
Accounts Payable.'' This collection will allow the lender to document
all the sources and uses of funds at the time of loan closing more
clearly. This information will better allow both lenders and SBA staff
to ensure that the necessary information is collected at the time of
loan origination.
Solicitation of Public Comments
SBA is requesting comments on (a) Whether the collection of
information is necessary for the agency to properly perform its
functions; (b) whether the burden estimates are accurate; (c) whether
there are ways to minimize the burden, including through the use of
automated techniques or other forms of information technology; and (d)
whether there are ways to enhance the quality, utility, and clarity of
the information.
Summary of Information Collection
PRA Number: 3245-0200.
Title: Settlement Statement.
Description of Respondents: SBA Lenders and Borrowers.
Form Number: SBA Form 1050.
Total Estimated Annual Responses: 52,000.
Total Estimated Annual Hour Burden: 26,000.
Shauniece Carter,
Interim Agency Clearance Officer.
[FR Doc. 2025-16690 Filed 8-29-25; 8:45 am]
BILLING CODE 8026-09-P
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