Farm Loan Programs - General Program Administration

ICR 202205-0560-001

OMB: 0560-0238

Federal Form Document

Forms and Documents
Document
Name
Status
Form
Modified
Justification for No Material/Nonsubstantive Change
2022-05-09
Supporting Statement A
2020-09-22
Supplementary Document
2020-06-26
IC Document Collections
IC ID
Document
Title
Status
1568 Modified
ICR Details
0560-0238 202205-0560-001
Received in OIRA 201911-0560-004
USDA/FSA
Farm Loan Programs - General Program Administration
No material or nonsubstantive change to a currently approved collection   No
Regular 05/10/2022
  Requested Previously Approved
09/30/2023 09/30/2023
164,390 164,390
168,029 168,029
0 0

The collection is used to provide supervised credit as legislatively mandated, ensure when loan funds are used for construction, work is completed according to applicable state and local standards; ensure loan repayment plan is developed using realistic data; and develop a loan assessment.

US Code: 7 USC 1921 Name of Law: CONACT
  
None

Not associated with rulemaking

  85 FR 9722 02/20/2020
85 FR 43806 07/20/2020
No

1
IC Title Form No. Form Name
Farm Loan Programs - General Program Administration FSA-2155, FSA-2154, FSA-2037, FSA-2038, FSA-2039, FSA-2140, FSA-2150, FSA-2153, FSA-2141 Farrm Business Plan - Balance Sheet ,   Farm Business Plan - Income and Expense ,   Deposit Agreement ,   Farm Business Plan - Worksheet Summary of Year's business ,   Interest Bearing Deposit Agreement ,   Development Plan ,   Release by Contractor ,   Release by Claimants ,   Vendor Appraiser Registration

  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 164,390 164,390 0 0 0 0
Annual Time Burden (Hours) 168,029 168,029 0 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
Overall, the number of respondents decreased by 20,181 while the annual responses decreased by 40,198, and the annual burden hours decreased by 61,208. Those decreased numbers were due to FSA not conducting limited resource reviews in several years as the regular interest rates have been far below the 5% of the limited resource interest rates. When the regular interest rates rise above the limited resource rates, borrowers meeting the eligibility requirements will once again be requesting those rates. Also, there were fewer respondents using of FSA-2037 and FSA-2039 and noted that applicants and borrowers do not complete FSA-2039. FSA has not been utilizing supervised bank accounts as other methods to disburse loan funds to be more effective and efficient. That has almost eliminated the need for financial institutions to open supervised bank accounts, and borrowers need to contact FSA multiple times to release loan funds. In addition, applicants in general do not use loan funds for construction purposes, thus reducing the number of contractors responding to information collection requirements. FSA was no longer included travel times in this request. Respondents may submit applications by mail and many respondents go to the county offices to do regular and customary business with FSA for other FSA programs and can complete and submit the farm loan programs forms during this time; this means no travel time is required specifically for this information collection.

$19,209,721
No
    No
    Yes
No
No
No
No
Mary Ann Ball 202-720-4283 [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.
05/10/2022


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