Information is used to determine applicant's eligibility for a direct loan; ensure cash flow projections are based on actual production history; ensure that loan is adequately secured; and obtain assignments on income or sales proceeds to ensure timely repayment of the loan.
FSA is conducting this revision due to Executive Order 14058 issued by the White House, that tasked the Secretary of Agriculture with simplifying the direct loan application process. In doing so, this collection was also affected. The numbers of responses decreased by 93,365 while the burden hours increased by 10,578 due to the forms FSA-2001, FSA-2002, FSA-2003, FSA-2004, FSA-2005, FSA-2006, FSA-2037, FSA-2038, FSA-2302, and FSA-2330 that have been consolidated into a single form for the purposes of direct loan making and that consolidation is reflected in this collection. The revised FSA-2001 will be used for direct loan making to replace the use of the other listed forms; other Farm Loan Programs uses, for example loan servicing will still use the original forms in some cases. Also, the number of respondents decreased by 10,474 in this 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.
Farm Loan Programs - Direct Loan Making