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

ICR 202103-3245-001

OMB: 3245-0407

Federal Form Document

ICR Details
3245-0407 202103-3245-001
Active 202101-3245-008
SBA
Paycheck Protection Loan Program Borrower Information Form and Lender's Application for Loan Guaranty
Revision of a currently approved collection   No
Emergency 03/03/2021
Approved with change 03/03/2021
Retrieve Notice of Action (NOA) 03/03/2021
  Inventory as of this Action Requested Previously Approved
09/30/2021 6 Months From Approved 07/31/2021
35,679,326 0 34,929,702
9,505,578 0 9,038,154
340,915,960 0 335,325,139

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.
March 2, 2021 Susan Minson SBA Desk Officer Office of Management and Budget Dear Ms. Minson: Pursuant to the Office of Management and Budget (OMB) procedures in 5 CFR Part 1320, SBA requests emergency review of revisions to the collection of information for the Paycheck Protection Program Loan Program (PPP Loan Program). This information collection (OMB Control Number 3245-0407) is currently approved under emergency proceedings until July 31, 2021. This request for emergency processing, includes a request for waiver of the requirement to publish the 60-day and 30-day public comment notices in the Federal Register. The revisions to this information collection are necessary to implement changes to the program as set out in a pending interim final rule titled, Business Loan Program Temporary Changes; Paycheck Protection Program Revisions to Loan Amount Calculation and Eligibility” (Loan Amount and Eligibility Rule). This rule allows IRS Form 1040, Schedule C filers to calculate maximum loan amount using gross income; and removes the eligibility restrictions on certain small business owners who have non-financial fraud felony convictions, or who are delinquent on Federal student loans. In order to implement these changes, SBA has created a new application form specifically for the Schedule C filers, the PPP Borrower Application Form – Gross Income Schedule C Filers (Form 2483-C), and revised the existing PPP Borrower Application Form (Form 2483) and the PPP Lender Application (Form 2484). The authority for the program expires on March 31, 2021. Therefore, given the urgent need to make the revised information collection available to the affected small businesses before this date, SBA cannot comply with the standard review and approval procedures. Accordingly, SBA is requesting that OMB review and approve the revised information collection under the emergency procedures set forth in 5 CFR 1320.13. We appreciate your consideration of this request. Please let us know if you have any questions. Sincerely, Jihoon Kim Director, Office of Financial Program Operations U.S. SMALL BUSINESS ADMINISTRATION WASHINGTON, DC 20416

None
None

Not associated with rulemaking

No

  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 35,679,326 34,929,702 0 749,624 0 0
Annual Time Burden (Hours) 9,505,578 9,038,154 0 467,424 0 0
Annual Cost Burden (Dollars) 340,915,960 335,325,139 0 5,590,821 0 0
Yes
Miscellaneous Actions
No
The total burden hours have increased. This has occurred because by allowing Schedule C filers to calculate their PPP loan amount using gross income instead of net profit, the number of borrowers eligible to receive a PPP loan will increase. Additionally, the estimate of the number of respondents that will submit the Form 2483 has been increased based on actual program performance to date.

$173,124,509
No
    No
    No
Yes
No
No
Yes
Mary Frias 202 401-8234 [email protected]

  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.
03/03/2021


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