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.
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.
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.