Economic Injury Disaster Loan Application (EIDL) COVID-19

OMB Control No: 3245-0406	ICR Reference No: 202003-3245-004
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: SBA	Agency Tracking No:
Title: Economic Injury Disaster Loan Application (EIDL) COVID-19
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 03/26/2020
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/27/2020
Retrieve Notice of Action (NOA)	Date Received in OIRA: 03/26/2020
Terms of Clearance: SBA may use the forms covered by OMB’s approval only after the CARES Act is enacted. OMB’s approval also assumes that the statutory provision in the CARES Act authorizing this information collection is substantially unchanged from the language passed by the Senate.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2020	6 Months From Approved
Responses	1,000,000	0	0
Time Burden (Hours)	2,666,667	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The information will be collected from small businesses and nonprofit applicants in support of their application for an economic injury loan or grant related to COVID-19. SBA will use the information to determine eligibility and whether to approve or disapprove the application .

Emergency Justfication: The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), when signed by the president, will authorize the Small Business Administration (SBA) to provide enhanced loans under the Economic Injury Disaster Loan (EIDL) program in response to the coronavirus pandemic, COVID-19. These loans will provide working capital for small businesses, private nonprofits, and small agricultural enterprises suffering substantial economic injury as a result of the pandemic, and will include emergency grants to eligible entities. SBA is working with a contractor to start providing this assistance as soon as the legislation is signed, which we expect to be no later than Saturday, March 28, 2020. In order to meet the target rollout date, SBA is requesting emergency approval under 5 CFR 1320.13 for this new information collection by March 27, 2020. SBA has streamlined the requirements generally required for a disaster loan application specifically for use in this COVID-19 effort. For example, the requirement for tax returns has been modified to allow applicants to submit some of the information that would otherwise be extrapolated from the returns. We have also removed references to all other business disaster programs to avoid any confusion as to the purpose of the application. Given the current urgent need and to help mitigate harm to the affected small businesses, this new information collection is needed prior to the expiration of the normal Paperwork Reduction Act process. Accordingly, in addition to requesting emergency approval, SBA also requests that OMB waive the 60- day public comment notice required by 5 C.F.R. §1320.8(2)(d)(1). If this request for emergency processing is approved, SBA will subsequently take the necessary steps to comply with the notice requirements. SBA appreciates your prompt attention to this matter and looks forward to receiving your emergency approval by March 27, 2020. Sincerely, James

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title Form No. Form Name Economic Injury Disaster Loan Application COVID-19 SBA FORM 3503 , SBA FORM 3504 , SBA FORM 3502 , SBA FORM 3501 Certification for EIDL Advance ,   EIDL Faith Based Entity Certification ,   EIDL Supporting Information ,   EIDL Application COVID-19

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	1,000,000	0	0	1,000,000	0	0
Annual Time Burden (Hours)	2,666,667	0	0	2,666,667	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: NEW COLLECTION

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Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Yes

Agency Contact: Yvonne Walters 202 619-1178 [email protected]

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Common Form ICR:  No

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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:
		(a) It is necessary for the proper performance of agency functions;
		(b) It avoids unnecessary duplication;
		(c) It reduces burden on small entities;
		(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
		(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
		(f) It indicates the retention periods for recordkeeping requirements;
		(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
			(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;
		(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
		(i) It uses effective and efficient statistical survey methodology (if applicable); and
		(j) It makes appropriate use of information technology.
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.
Certification Date: 03/26/2020

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