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

ICR 202104-3245-002

OMB: 3245-0407

Federal Form Document

ICR Details
3245-0407 202104-3245-002
Received in OIRA 202103-3245-011
SBA
Paycheck Protection Loan Program Borrower Information Form and Lender's Application for Loan Guaranty
No material or nonsubstantive change to a currently approved collection   No
Emergency 03/18/2021
04/06/2021
  Requested Previously Approved
09/30/2021 09/30/2021
37,002,166 37,002,166
9,935,129 9,935,129
355,220,794 355,220,794

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 18, 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), OMB Control Number 3245-0407. This information collection is currently approved under emergency proceedings until September 30, 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 the PPP information collection are necessary to implement amendments to the program as set out in a pending interim final rule titled, Business Loan Program Temporary Changes; Paycheck Protection Program as amended by American Rescue Plan Act. (RIN: 3245-AH-77). The revisions being submitted at this time reflect the amendments that expanded eligibility for PPP Loans, and provided that a borrower that receives a PPP loan after December 27, 2020, can be approved for a Shuttered Venue Operator Grant under certain conditions. The authority for the PPP 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

None
None

Not associated with rulemaking

No

  Total Request 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 37,002,166 37,002,166 0 0 0 0
Annual Time Burden (Hours) 9,935,129 9,935,129 0 0 0 0
Annual Cost Burden (Dollars) 355,220,794 355,220,794 0 0 0 0
No
No
The total burden hours have increased. This has occurred because the American Rescue Plan Act added additional eligible applicants who will apply for PPP loans.

$178,740,509
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.
04/06/2021


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