Settlement Sheet

ICR 201811-3245-002

OMB: 3245-0200

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Modified
Supplementary Document
2018-11-27
Supporting Statement A
2018-11-27
IC Document Collections
IC ID
Document
Title
Status
186934 Modified
ICR Details
3245-0200 201811-3245-002
Active 201804-3245-001
SBA
Settlement Sheet
Revision of a currently approved collection   No
Regular
Approved without change 04/22/2019
Retrieve Notice of Action (NOA) 11/27/2018
  Inventory as of this Action Requested Previously Approved
04/30/2022 36 Months From Approved 05/31/2021
28,224 0 28,224
14,112 0 4,800
0 0 0

This form is required to be completed at the time of first disbursement by lenders and small business owners for all 7(a) loans that are closed and disbursed with the exception of 7(a) Small, Community Advantage, SBA Express and Export Express loans. SBA uses the information to help determine whether loans were disbursed in compliance with SBA requirements, to obtain certifications to such compliance. The form also notifies lenders of their obligation to retain completed forms.

None
None

Not associated with rulemaking

  83 FR 37878 08/02/2018
83 FR 60936 11/27/2018
No

1
IC Title Form No. Form Name
Settlement Sheet SBA Form 1050 Settlement Sheet

  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 28,224 28,224 0 0 0 0
Annual Time Burden (Hours) 14,112 4,800 0 9,312 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
The burden hours for SBA Form 1050 have increased based on the estimated time spent for each response on the revised form. The old form was estimated to take 10 minutes to complete, while this revised form is estimated to take 30 minutes to complete. Loan volume is expected to be about the same for FY 2019 and 2020.

$0
No
    No
    No
No
No
No
Uncollected
Susan Suckfiel 202 205-6443

  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.
11/27/2018


© 2022 OMB.report | Privacy Policy