Enterprise Development Network
Loan/Insurance Originator
Application Questionnaire
A new form is needed to facilitate the acquisition of information from and regarding potential Enterprise Development Network (“EDN”) loan/ insurance originators.
SUPPORTING STATEMENT FOR APPROVAL
Justification
Legal authority for the collection of this information is found in Section 234(d) of the Foreign Assistance Act of 1961, as amended. This application is sent to U.S. companies and individuals requesting to be loan or insurance originators under OPIC’s EDN program. The information provided is reviewed by OPIC finance officers and attorneys to determine the applicant’s qualification for originating loan and/or insurance projects to be financed or insured by OPIC as part of the EDN program.
On an annual basis OPIC receives approximately 100 applications from U.S. companies.
Using a standard form for the collection of information enables OPIC to “log” and track all applicant data in a consistent manner, improve internal information management procedures and more efficiently respond to each applicant.
The information collected is not duplicated elsewhere. The information is not already available in any other form and would not be requested by any other federal agency or lending institution since it is applicable solely to OPIC’s EDN program.
Questions asked of applicants, whether they are large or small businesses, require only brief answers. Written guidelines are available to assist applicants as they complete the application.
Without a form to collect the information, the amount of staff time needed to gather the requisite information would be significantly greater and would result in multiple requests for information for program users. This would reduce the amount of time that could be devoted to marketing OPIC programs and analyzing and monitoring projects, thereby reducing the productivity and administrative efficiency of the EDN program.
No special circumstances exist that require the information collection to be conducted in a manner inconsistent with the guidelines in the Paperwork Reduction Act or OMB’s implementing regulations.
The 60 day Federal Register Notice was published on 9/22/2007, the 30 day Federal Register Notice was published on 11/19/2007; no comments were received on the first Federal Register Notice.
Persons outside OPIC and representatives of those from whom information is to be collected are not consulted. In order to determine the eligibility of applicants for financial assistance in accordance with OPIC policies, it is necessary to obtain all of the information requested in the application.
Not applicable. Payments and gifts are not offered to respondents
OPIC provides respondents the assurance of confidentiality by labeling the top and bottom of each page of the OPIC-241 form with the phrase, “Privileged Business Information”. Client information contained in this questionnaire will be deemed designated as privileged or confidential in accordance with OPIC’s Freedom of Information (FOIA) regulations (22 CFR part 706) and will be treated as confidential to the extent permitted under FOIA.
No questions on the application are of a sensitive nature.
The estimated burden of collecting this information is as flows:
Total Respondents: 100
Frequency of response: once per investment
Annual burden: 400 hours (based on 4 hours per response)
Estimated annualized cost to respondents: Comptrollers: $75 x 6 hours x 100 responses - $45,000.00. Annual reporting is not required: information is only collected once per originator.
Total capital and start-up costs: $0
Total operation and maintenance costs: $0
All costs associated with the form are part of the normal costs of doing business.
Review and analysis at 4 hours per application, x $55.00/hour x 100 applications = $22,000.00.
It is estimated that approximately 100 persons per year will complete this application and send it to OPIC for review.
Not applicable. Information provided in the application is not published or made public in any way.
Not applicable. The OMB expiration date will be printed on each copy of the form.
Not applicable. No exceptions are being requested on the certification statement.
B. Statistical methods are not employed in the information collection.
| File Type | application/msword |
| File Title | Enterprise Development Network (EDN) |
| Author | OPIC |
| Last Modified By | OPIC |
| File Modified | 2007-12-28 |
| File Created | 2007-11-13 |