Data Collection Available for Public Comments
| Published date | 13 September 2023 |
| Record Number | 2023-19709 |
| Court | Small Business Administration |
| Section | Notices |
Federal Register, Volume 88 Issue 176 (Wednesday, September 13, 2023)
[Federal Register Volume 88, Number 176 (Wednesday, September 13, 2023)]
[Notices]
[Pages 62866-62867]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-19709]
=======================================================================
-----------------------------------------------------------------------
SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public Comments
ACTION: 60-Day notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Small Business Administration (SBA) intends to request
approval, from the Office of Management and Budget (OMB) for the
[[Page 62867]]
collection of information described below. The Paperwork Reduction Act
(PRA) requires Federal agencies to publish a notice in the Federal
Register concerning each proposed collection of information before
submission to OMB, and to allow 60 days for public comment in response
to the notice. This notice complies with that requirement.
DATES: Submit comments on or before November 13, 2023.
ADDRESSES: Send all comments to Gregorius Suryadi, Financial and Loan
Specialist, Office of Financial Assistance, Small Business
Administration, Washington, DC 20416.
FOR FURTHER INFORMATION CONTACT: Gregorius Suryadi, Financial and Loan
Specialist, Office of Financial Assistance, [email protected]
(202) 205-6806, or Curtis B. Rich, Agency Clearance Officer, (202) 205-
7030, [email protected].
SUPPLEMENTARY INFORMATION: The Small Business Investment Act authorizes
SBA to guarantee a debenture issued by a Certified Development Company
(CDC). The proceeds from each debenture are used to fund loans to
eligible small business concerns (``504 loans''). 15 U.S.C. 697(a). The
Small Business Act and the Small Business Investment Act mandate that
all guaranteed loans provided by the SBA to small business concerns
(SBCs) must have a reasonable assurance of ability to repay. See 15
U.S.C. 636(a)(6) and 687(f); see also 13 CFR 120.150. The information
collections SBA Form 1244 is being updated for regulatory and Standard
Operating Procedure 50 10 7 changes along with conforming the Form more
in alignment with Form 1919, the 7(a) program information collection
which was recently updated. SBA has updated borrower certifications and
proposes streamlining the Form 1244 based on regulatory and SOP updates
as well as public comments from trade associations representing the 504
industry.
Additionally, in accordance to the National Defense Authorization
Act (NDAA)/Small Business Runway Extension Act (SBREA) for Fiscal Year
2022 rule, the SBA will use its administrative discretion to permit
loan applicants to choose between 3 years and 5 years for receipts-
based size standards, and from 12 months to 24 months for employee-
based size standards. (15 U.S.C. 632(a)(2))
Solicitation of Public Comments
SBA is requesting comments on (a) Whether the collection of
information is necessary for the agency to properly perform its
functions; (b) whether the burden estimates are accurate; (c) whether
there are ways to minimize the burden, including through the use of
automated techniques or other forms of information technology; and (d)
whether there are ways to enhance the quality, utility, and clarity of
the information.
Summary of Information Collection
OMB Control Number: 3245-0071.
Title: Application for Section 504 Loans.
Form Number: SBA Form 1244.
Description of Respondents: Small Business Concerns applying for a
section 504 loan and Certified Development Companies.
The information collected by this form is used to review the
eligibility of the small business concern (SBC) for SBA financial
assistance; the creditworthiness and repayment ability of the SBC; and
the terms and conditions of the 504 loan for which the SBC is applying.
SBA has established a streamlined loan application processing
procedure known as the Abridged Submission Method (ASM). Under this
process, the CDCs are required to collect and retain all exhibits to
SBA Form 1244 but are only required to submit selective documents. CDCs
using the non-ASM method are required to submit all documents and
exhibits required for Form 1244.
The burden estimates (based on the experience of the CDCs and SBA
field offices) of the burden hours imposed by use of these forms,
including exhibits, are as follows:
There are 200 CDCs affected by the information collection. The
total number of small business concerns that will annually respond to
Form 1244 is approximately 7,119 based on the average submission of
applications submitted from CDCs over the past FY using both the ASM
and non-ASM methods. This is a total of 7,119 respondents. Burden hours
are 2.25 hours for PCLP Loan and ALP Express Loan, 2.5 hours for ASM,
and 3.5 hours for non-ASM submissions.
Submission through delegated authority: 15 x 2.25 = 34 burden
hours.
Submission through the ASM: 5,695 x 2.5 = 14,238 burden hours.
Submission through non-ASM (standard method): 1,409 x 3.5 = 4,932
burden hours.
Total burden hours: 19,204.
Curtis Rich,
Agency Clearance Officer.
[FR Doc. 2023-19709 Filed 9-12-23; 8:45 am]
BILLING CODE 8026-09-P
