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 AmericaÂs 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 legislationÂs 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.
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
Reginfo record details
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.
Form TD F 102.1 Application Dividend Inquiry Letter
SBLF_Fact_Sheet_Final.pdf
SBLF OIRA Clearance Documentation 05 11 2011.docx
Application Dividend Inquiry Letter