Paycheck Protection Loan Program Borrower Information Form and Lender's Application for Loan Guaranty

ICR 202101-3245-003

OMB: 3245-0407

Federal Form Document

ICR Details
3245-0407 202101-3245-003
Active 202010-3245-007
Paycheck Protection Loan Program Borrower Information Form and Lender's Application for Loan Guaranty
Revision of a currently approved collection   No
Emergency 01/08/2021
Approved without change 01/08/2021
Retrieve Notice of Action (NOA) 01/08/2021
  Inventory as of this Action Requested Previously Approved
07/31/2021 6 Months From Approved 12/31/2023
24,529,702 0 23,129,282
7,609,879 0 7,162,083
279,638,603 0 263,673,815

Section 7(a) of the Small Business Act (15 U.S.C. 636) authorizes the Small Business Administration to guarantee loans made by banks or other financial institutions to qualified small businesses in the 7(a) Loan Program. The regulations covering this loan program at 13 CFR Part 120 require loan applicants and lenders to provide certain information that is used to determine program eligibility and compliance. CARES Act PL 116-136 will also cover this program.
January 8, 2021 Susan Minson SBA Desk Officer Office of Management and Budget Dear Ms. Minson: Pursuant to the Office of Management and Budget (OMB) procedures established at 5 CFR Part 1320, SBA requests review of revisions to the collection of information for the Paycheck Protection Program (PPP), currently approved under OMB Control Number 3245-0407, in accordance with the emergency processing procedures in section 1320.13. As part of this request for emergency processing, SBA also requests a waiver from the requirement to publish the 60-day and 30-day public comment notices in the Federal Register. The revisions are necessary to implement recent changes to the Paycheck Protection Program (PPP), including reauthorization of the program, by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (“Economic Aid Act”), Pub. L. 116-260 (December 27, 2020). In addition to reauthorizing the program, the Economic Aid Act made other amendments to the PPP, including expanding the categories of eligible loan applicants and uses of loan proceeds, and adjusting the methodology for calculating interest rate on PPP loans. SBA has determined that the additional information required to implement these changes is required prior to the expiration of time periods for the process established under 5 CFR Part 1320. The authority to resume guaranteeing PPP loans expires on March 31, 2021. Without emergency processing, the authority would expire before SBA could collect the information necessary to restart PPP, as amended, and make the critically needed financial assistance available to the eligible small businesses. In order to restart the program and collect the information that would have an immediate impact on applicants and lenders, SBA is only revising the following forms at this time: SBA Form 2483, PPP Borrower Application Form; SBA Form 2484, PPP Lender Application Form; SBA Forms 3506, CARES Act Section 1102 Lender Agreement; and SBA Form 3507, CARES Act Section 1102 Lender Agreement – Non-Bank and Non-Insured Depository Institution Lenders. SBA anticipates that additional revisions will be necessary to this information collection to implement other Economic Aid Act amendments. Sincerely. Jihoon Kim Director, Office of Financial Program Operations


Not associated with rulemaking


IC Title Form No. Form Name
Paycheck Protection Loan Program Borrower Information Form and Lender's Application for Loan Guaranty SBA Form 2483 , SBA Form 3508 Instructions , SBA Form 3508 , SBA Form 3508EZ, SBA Form 3508S , SBA 3508S Instructions , SBA Form 3508EZ Instructions , SBA Form 3509, SBA Form 3510 , SBA Form 3506 , SBA Form 3507 , SBA Form 2484 Form 3508 EZ Instructions ,   PPP Forgiveness Application ,   PPP Loan Forgiveness Application ,   Instructions PPP Loan Forgiveness Application ,   PPP Loan Necessity Questionnaire for Profit ,   PPP Loan Necessity Questionnaire Non Profit ,   PPP Agreement for New Lenders Banks Credit Unions ,   PPP Agreement for Lenders Non Bank Non Insured Depository Institution Lenders ,   PPP Lender Application Updated ,   PPP Borrower Application ,   Form 3508 Instructions ,   Forgiveness Application

  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 24,529,702 23,129,282 0 1,400,420 0 0
Annual Time Burden (Hours) 7,609,879 7,162,083 0 447,796 0 0
Annual Cost Burden (Dollars) 279,638,603 263,673,815 0 15,964,788 0 0
Miscellaneous Actions
The total burden hours have increased. This has occurred because SBA is reopening the PPP program for new borrowers as authorized under the Economic Aid Act and will be accepting requests from new lenders for participation in the PPP program, including the Second Draw Program.

Mary Frias 202 401-8234 [email protected]


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.

© 2023 | Privacy Policy