American's Recovery Capital (ARC) Loan Program

Forms and Documents

Document Name	Status

No forms / supporting documents in this ICR. Check IC Document Collections.

IC Document Collections

IC ID	Document Title	Status
189042	America's Recovery Capital (ARC) Loan Program	New

ICR Details

OMB Control No: 3245-0366	ICR Reference No: 200905-3245-005
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: SBA	Agency Tracking No:
Title: American's Recovery Capital (ARC) Loan Program
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 05/08/2009
OIRA Conclusion Action: Preapproved	Conclusion Date: 06/03/2009
	Date Received in OIRA: 05/06/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2009	6 Months From Approved
Responses	12,000	0	0
Time Burden (Hours)	7,070	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: Section 506 of the American Recovery and Reinvestment Act of 2009 (the Recovery Act), P.L. 111-5 authorizes the Small Business Administration to guarantee loans to viable small business that have certain eligible small business loans and are experiencing immediate financial hardship. SBA is establishing a new, temporary loan program, America's Recovery Capital (ARC) to carry out this authority to assist small businesses with making timely payments on existing business debt. SBA business loan regulations (13 CFR Part 120) contain the requirements that must be met by the small business loan applicants as well as the participating lenders to be eligible for an ARC loan. SBA has created four new forms for the ARC Loan Program to collect mission critical data.

Emergency Justfication: The US Small Business Administration (SBA) is requesting approval on an emergency basis for the attached information collection by May 8, 2009. This IC will be used in the implementation of the Business Stabilization initative, which was authorized by Title V, sec. 506 of the American Recovery and Reinvestment Act of 2009 (Recovery Act). SBA has titled this new loan program, American's Recovery Capital (ARC) Loan Program and intends to implemenent it by May 19, 2009. Additional information is contained in attached justification letter from Eric Zarnikow, Associate Administrator for Capital Access.

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Authorizing Statute(s): PL: Pub.L. 111 - 5 506 Name of Law: American Recovery and Reinvestment Act of 2009
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3245-AF93	Final or interim final rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
America's Recovery Capital (ARC) Loan Program	SBA Form 2315, SBA Form 2316 (Part C), SBA Form 2316 (Part A), SBA Form 2316 (Part B)

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	12,000	0	0	12,000	0	0
Annual Time Burden (Hours)	7,070	0	0	7,070	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: New information collection

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Yes

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 05/06/2009

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