Lender Certification for Reinstatement or Correction of Paycheck Protection Program (PPP) Loan

ICR 202106-3245-001

OMB: 3245-0415

Federal Form Document

ICR Details
3245-0415 202106-3245-001
Received in OIRA 202012-3245-002
SBA
Lender Certification for Reinstatement or Correction of Paycheck Protection Program (PPP) Loan
Revision of a currently approved collection   No
Emergency 06/30/2021
06/16/2021
  Requested Previously Approved
6 Months From Approved 06/30/2021
4,000 4,000
2,000 2,000
67,520 72,000

Lenders that cancelled a PPP loan in SBA’s ETRAN system due to the lender’s data input error or made a data input error in the SBA Loan Approval Amount of a PPP loan on ETRAN will use this form to request that the SBA Loan Approval Amount be corrected or that an erroneously cancelled loan be reinstated. SBA will use the information provided to evaluate the nature of the lender’s error and to determine whether the SBA Loan Approval Amount should be corrected or whether the loan should be reinstated.
June 15, 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 1320, SBA requests that OMB review of the non-substantive revisions to the collection of information titled, Lender Certification for Reinstatement or Correction of Paycheck Protection Program (PPP) Loan, OMB Control No. 3245-0415, be processed in accordance with section 1320.13, Emergency Processing. These revisions include clarifying that a lender’s ability to reinstate or correct a loan is subject to the availability of funds. This change will help to manage lenders’ expectations, especially as funds become depleted. Additional changes include clarifying that an Individual Taxpayer Identification Number (ITIN) is an acceptable Taxpayer Identification Number for the Borrower and removing an outdated reference to the expiration of authority for the PPP. Also, the form has been revised in light of the new 2021 origination process for PPP loans, where loans are processed through SBA’s Paycheck Protection Platform, rather than directly through SBA’s ETRAN system. SBA has determined that the revisions are necessary prior to the expiration of time periods established under Part 1320 to complete the OMB review process. The information is essential to the SBA’s ability to evaluate lenders’ requests for reinstatement of PPP loans that were cancelled in SBA’s ETRAN system due to lenders’ data input errors and/or correction of lenders’ data input errors made when entering the SBA Loan Approval Amount of PPP loans in ETRAN or the Paycheck Protection Platform, subject to availability of funds. SBA has been accepting forgiveness decisions from lenders and making forgiveness payments on PPP loans and recognized that there is a need for the revisions to help ensure, among other things, that Lenders submit the appropriate information that SBA needs to review the correction or reinstatement requests. In light of the ongoing need to review such requests, approval of this revised information collection without having to go through the standard Paperwork Reduction Act review procedures will have an immediate benefit for lenders, enhance the integrity of the program, and improve SBA’s oversight and monitoring responsibilities. SBA requests approval of these non-substantive revisions by June 30, 2021. According to OMB guidance,1 the agency is not required to solicit public comment for non-substantive revisions to Flexibilities Under the Paperwork Reduction Act for Compliance with Information Collection Requirements.

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 4,000 4,000 0 0 0 0
Annual Time Burden (Hours) 2,000 2,000 0 0 0 0
Annual Cost Burden (Dollars) 67,520 72,000 0 -4,480 0 0
No
No

$276,000
No
    No
    No
Yes
No
No
No
Adrienne Grierson 202 205-6573 [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.
06/16/2021


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