The purpose of the B&I Guaranteed Loan Program is to improve, develop, or finance business, industry, and employment and improve the economic and environmental climate in rurals. This is achieved by bolstering the existing private credit structure through the guarantee of quality loans which will provide lasting community benefits.
US Code:
7 USC 1932(a)
Name of Law: Consolidated Farm and Rural Development Act
The increase in burden of 50 hours is a net result from: correcting the input/typo burden hour error in the previous submission of 19707 - should have been 19,907; and form 4279-14 is now used instead of a written report for personal & corporate guarantees. Per response time decreases from 2 hours to 30 minutes for 100 respondents.
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.