Information is used to determine borrower compliance with loan covenants, assist borrower in achieving their business goals, and regular servicing of loan account such as graduation, subordination, partial release, and use of proceeds.
As a result of the FLP streamlining rule, the information collections applicable to FLP approved under control numbers 0575-0075 and 0575-0093 are being transferred to this new control number. Further, the information collections approved under control numbers 0560-0158 and 0560-0171 are transferred to this new control number. Control numbers 0560-0158 and 0560-0171 will be retired when the final rule this document supports will be effective.
As a result of the information collection analysis completed for the final rule, the total burden hours for FLP were increased. In some cases the increase was due to changes in the number of respondents, responses per respondent, or response time. In other cases the increase was due to the addition of existing information collections that are currently unapproved.
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.