Surety Bond Guarantee Assistance

OMB Control No: 3245-0007	ICR Reference No: 202407-3245-002
Status: Active	Previous ICR Reference No: 202209-3245-004
Agency/Subagency: SBA	Agency Tracking No:
Title: Surety Bond Guarantee Assistance
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/23/2024
Retrieve Notice of Action (NOA)	Date Received in OIRA: 07/23/2024
Terms of Clearance: Pre-approval contingent upon no substantive changes to this collection after adoption of the final rule. Otherwise this collection must be re-submitted to OMB for review.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2027	36 Months From Approved	11/30/2025
Responses	39,820	0	39,820
Time Burden (Hours)	8,647	0	8,647
Cost Burden (Dollars)	143,352	0	143,750

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Abstract: The Small Business Administration's (SBA) Surety Bond (SBG) Program was created to encourage surety companies to issue bonds for small contractors. The information collected on these forms from Small Business contractors or surety companies/agents is used to evaluate the eligibility of program applicants. One form is used by surety companies to request claims payments or report recoveries related to defaulted contractors.

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Authorizing Statute(s): US Code: 15 USC USC 694b Name of Law: Small Business Investment

Citations for New Statutory Requirements: PL: Pub.L. 13 - 115 115.3 Name of Law: Eligibility of Principal.

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
3245-AI03	Final or interim final rulemaking	89 FR 34094	04/30/2024

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Federal Register Notices & Comments
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 47196	05/31/2024
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 Surety Bond Guarantee (SBG) Program SBA Form 994 APPLICATION FOR SURETY BOND GUARANTEE ASSISTANCE Surety Bond Guarantee Assistance SBA Form 994 , SBA Form 994 H , SBA Form 990 , SBA Form 994 B , SBA Form 991 , SBA Form 994 F APPLICATION FOR SURETY BOND GUARANTEE ASSISTANCE ,   DEFAULT REPORT, CLAIM FOR REIMBURSEMENT, REPORT OF RECOVERIES AND RECORD OF ADMINISTRATIVE ACTION ,   SURETY BOND GUARANTEE AGREEMENT ,   SURETY BOND GUARANTEE UNDERWRITING REVIEW ,   SURETY BOND GUARANTEE AGREEMENT ADDENDUM ,   SCHEDULE OF WORK IN PROCESS

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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	39,820	39,820	-39,820	39,820	0	0
Annual Time Burden (Hours)	8,647	8,647	-8,647	8,647	0	0
Annual Cost Burden (Dollars)	143,352	143,750	-143,750	143,352	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: Change in Regulations

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Annual Cost to Federal Government: $136,595

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)? Yes

Is this ICR related to the Pandemic Response? No

Agency Contact: Jermanne Perry 202 401-8275 [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: 05/31/2024

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