Secondary Participation Guaranty Agreement

Forms and Documents

Document Name	Status
Form SBA Form 1502 Secondary Participation Guaranty Agreement Form	Modified
3245-0185 Statutory Provision Form 1086 and 1502 Small Bus Act 09-03-2020.docx Supplementary Document	2020-09-03
3245-0185 Supporting Statement - Forms 1086 and 1502 9-03-2020.docx Supporting Statement A	2020-09-03

IC Document Collections

IC ID	Document Title	Status
35712	Secondary Participation Guaranty Agreement Form	Modified

ICR Details

OMB Control No: 3245-0185	ICR Reference No: 202009-3245-001
Status: Historical Inactive	Previous ICR Reference No: 201702-3245-001
Agency/Subagency: SBA	Agency Tracking No:
Title: Secondary Participation Guaranty Agreement
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Improperly submitted	Conclusion Date: 09/30/2020
	Date Received in OIRA: 09/03/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		36 Months From Approved	09/30/2020
Responses	0	0	4,000
Time Burden (Hours)	0	0	60,000
Cost Burden (Dollars)	0	0	0

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Abstract: Small Business Administration collects this information from lenders who participate in the secondary market program. The information is used to facilitate and administer secondary market transactions in accordance with 15 USC 634(f)3 and to monitor the program for compliance with 15 USC 639(h).

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Authorizing Statute(s): US Code: 15 USC 634(f)(1) Name of Law: Authorizes lenders to sell the guaranteed portion of SBA loans in accordance with SBA's regulations
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 26513	05/04/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 34701	06/05/2020
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
Secondary Participation Guaranty Agreement	SBA Form 1086, SBA Form 1502	Guaranty Loan Status & Lender Remittance Form ,   SECONDARY PARTICIPATION GUARANTY AGREEMENT

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $48,000

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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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: 09/03/2020

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