Regulation promulgates the policies and procedures for servicing actions necessary in connection with community facilities loans and grants and insured business and industry loans. The Agency offers supervised credit to build and operate modest housing, water and sewer systems, essential community facilities, and business and industrial operations in rural areas.
Due to an increase of funding availability and initiatives that occurred over the past few years for the direct Community Facilities loan program, a request for an additional increase of 138 responses and 123 burden hours is being requested and will result in an increase of the number of responses to 1,773 and the number of burden hours to 1,663.
However, due to the COVID 19 pandemic, on April 1, 2020, a Non-substantive Change Request was submitted to OMB to include a new request for Forbearance and Forbearance Agreement Written Forms for Sections 515 and 538 borrowers resulting in an increase of 12, 735 responses and 18,475 burden hours. The Non-substantive Change Request was approved on February 1, 2021 however, the Forbearance and Forbearance Agreement Written Forms did not apply to the Direct Community Facilities Loan Program and the form are therefore being removed from the collection.
Removal of the forms resulted in the decrease of the number of responses back to its original request of 1,773 the number of responses and 1,663 burden hours for this collection.
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.
7 CFR 1951-E, Servicing of Community and Direct Business Programs Loans and Grants - Private Sector