Lenders that received FSC guarantees are required to provide financial information and annual reports to the Agency to ensure that borrowers and projects remain viable.
The major reason for the reduction in estimated burden hours from 16,085 to 1,292 is because the agency is no longer processing new FSC loans but still continues to service outstanding loans until paid in full or charged off.
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.