CARES ACT Section 1112 Gross Loan Payment

OMB Control No: 3245-0414	ICR Reference No: 202106-3245-004
Status: Received in OIRA	Previous ICR Reference No: 202011-3245-003
Agency/Subagency: SBA	Agency Tracking No:
Title: CARES ACT Section 1112 Gross Loan Payment
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 06/30/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	06/30/2021
Responses	35,580	48,000
Time Burden (Hours)	9,142	12,333
Cost Burden (Dollars)	291,756	355,200

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Abstract: Section 1112 Of Coronavirus Aid Relief, and Economic Security Act (CARES Ac7t), requires SBA to provide debt relief to certain borrowers by paying on their behalf the principal, interest, and any associated fees that they owe on a "covered loan" that is in regular servicing status. Lenders are requested to provide certain information to SBA that would enable the Agency to remit the payments on behalf of eligible borrowers for the covered period for compliance.

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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
60-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 10109	04/07/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 33463	06/24/2021
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 CARES Act Section 112 Subsidy Relief Program

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ICR Summary of Burden

	Total Request	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	35,580	48,000	0	-12,420	0	0
Annual Time Burden (Hours)	9,142	12,333	0	-3,191	0	0
Annual Cost Burden (Dollars)	291,756	355,200	0	-63,444	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The burden hours on the emergency request was for 12,000 hours based on the estimated number of Lenders that are participating in the PPP loan program. The requested burden hours of 9,142 are based on the actual number of respondents that submitted the Section 1112 Gross Loan Payment Template.

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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]? Yes

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: Mary Frias 202 401-8234 [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: 06/30/2021

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