The amendments to this information collection reflect changes that SBA recently made to its Standard Operating Procedures governing the 7(a) and 504 loan programs and which became effective January 1, 2014. Potentially, additional changes to these same forms will be necessary when the Agency issues its final rule also governing the 7(a) and 504 loan programs (RIN 3245-AG04).
Inventory as of this Action
Requested
Previously Approved
08/31/2014
36 Months From Approved
01/31/2014
126,834
0
120,719
68,273
0
58,856
0
0
0
Section 7a of the Small Business Act authorizes the Small Business Administration to guaranty loans in each of the 7(a) Programs. The regulations covering these and other loan programs at 13 CFR Part 120 require certain information from loan applicants and lenders that is used to determine program eligibility and compliance.
The reduction in processing times and costs is a result of a significant reduction in the number of forms required and the amount of information collected.
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.
SBA Express and Pilot Loan Programs (Export Express, Community Express and Patriot Express)