Small Business Lending Fund (SBLF) Application, Lending Plan and Supplemental Report

ICR 201104-1505-008

OMB: 1505-0228

Federal Form Document

Forms and Documents
Document
Name
Status
Form
New
Supplementary Document
2011-01-25
Supporting Statement A
2011-05-11
IC Document Collections
ICR Details
1505-0228 201104-1505-008
Historical Active 201102-1505-002
TREAS/DO
Small Business Lending Fund (SBLF) Application, Lending Plan and Supplemental Report
Revision of a currently approved collection   No
Emergency 05/18/2011
Approved without change 05/17/2011
Retrieve Notice of Action (NOA) 05/17/2011
  Inventory as of this Action Requested Previously Approved
11/30/2011 6 Months From Approved 08/31/2011
7,250 0 6,750
70,691 0 70,608
0 0 0

The Application is used by Treasury to establish the bank's eligibility to participate in the SBLF program. The legislation requires that the bank have assets less than $10 billion and not be on the "Troubled Banks" list. The Lending Plan is used by Treasury to decide whether to purchase the bank's stock. In addition, this data is used to set the initial dividend that the bank will pay Treasury, as the legislation links the dividend rate to the expected increase in small business lending contained in the plan. The legislation also requires the bank to describe how they will outreach to veteran, minority and women-owned small businesses. The Supplemental Report is used by Treasury to set the dividend rate paid by the bank. Increases or decreases in the dividend rate is the primary incentive/penalty of the program to encourage small business lending. If a bank increases small business lending by 10%, it could see its dividend rates drop to 1 percent. Failure to increase small business lending could cause a bank's dividend rate increase to 7 percent. When supplied, the voluntary State Regulator's Views form is used by Treasury to inform the decision of the Investment Committee regarding the institution's application for SBLF funds. The form provides the state regulator's assessment of the applicant's financial condition, their likelihood of repayment, and any supervisory findings that might influence the Investment Committee's decision.
The Department of the Treasury (Treasury) requests emergency processing and approval of the collection of information related to the Small Business Lending Fund (SBLF), which was created when the President signed into law the Small Business Jobs Act of 2010 (P.L. 111-240) on September 27, 2010. SBLF will provide up to $30 billion in needed capital to community banks in order to increase lending to America’s small businesses. The collection of information is needed to certify that the banks that ultimately receive funding are indeed eligible institutions as defined by the legislation and that their plans to increase lending to small businesses meet the legislation’s intent. Treasury cannot reasonably comply with the normal clearance procedures under 5 C.F.R. Part 1320 because of the necessity to provide this economic catalyst as soon as possible.

PL: Pub.L. 111 - 240 xxx Name of Law: Small Business Jobs Act of 2010
  
PL: Pub.L. 111 - 240 XXX Name of Law: Small Business Jobs Act of 2010

Not associated with rulemaking

No

5
IC Title Form No. Form Name
Application
Application Dividend Inquiry Letter TD F 102.1 Dividend Inquiry Report
Lending Plan
State Regulator's Views Form
Supplemental Report

  Total Approved 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 7,250 6,750 500 0 0 0
Annual Time Burden (Hours) 70,691 70,608 83 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
The change is due to the addition of the Dividend Inquiry Letter. The Purpose this letter is to confirm that the bank has no restriction that prevents the payment of dividends. Because it is temporal, this information needs to be collected soon before closing. We are limiting this mailing to those institutions likely to be approved for funding (i.e. deemed by 'viable' by the FBAs).

No
No
No
No
No
Uncollected
Daniel Ballard 202 674-1781

  No

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:
 
 
 
 
 
 
 
    (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;
 
 
 
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.
05/17/2011


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