Borrower Information Form, Lenders Application for Guaranty, and 7(a) Loan Post Approval Action Checklist
Revision of a currently approved collection
No
Regular
09/28/2023
Requested
Previously Approved
36 Months From Approved
09/30/2023
103,817
228,676
32,850
42,957
1,086,964
0
Section 7(a) 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.
US Code:
15 USC 695
Name of Law: 504 and 7(a) Loan Program
1. Total Number of Responses. The total number of responses reduced since the last renewal of the Forms. This changed due to: (1) The number of 7(a) loan Applicants has reduced in recent years. SBA believes this reduction in 7(a) Loan applications in 2020, 2021, and 2022 is primarily due to pandemic-related factors and reduced demand to capital during the pandemic.
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.
Form SBA Form 3518 SBA Express and Pilot Loan Programs(Export Express, Community Express and Patriot Express)
3245-0348 AUTHORITIES REG'S 9-28-2023.docx
SBA Express and Pilot Loan Programs(Export Express, Community Express and Patriot Express)