[Federal Register Volume 86, Number 143 (Thursday, July 29, 2021)]
[Notices]
[Pages 40894-40896]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-16014]


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SMALL BUSINESS ADMINISTRATION


Data Collection Available for Public Comments

AGENCY: Small Business Administration

ACTION: 60-Day notice; request for comments.

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SUMMARY: The Small Business Administration (SBA) is publishing this 
notice in compliance with the Paperwork Reduction Act (PRA) of 1995, as 
amended, to solicit public comments on the information collection 
described below. The PRA requires publication of this notice before 
submitting the information collection to the Office of Management and 
Budget (OMB) for review and approval.

DATES: Submit comments on or before September 27, 2021.

ADDRESSES: Comments should refer to the information collection by title 
or OMB Control Number (3245-0407) and submitted by the deadline above 
to: <a href="/cdn-cgi/l/email-protection#f7a7a7a7a8be999198a8b4989b9b9294839e989984b7849596d9909881"><span class="__cf_email__" data-cfemail="99c9c9c9c6d0f7fff6c6daf6f5f5fcfaedf0f6f7ead9eafbf8b7fef6ef">[email protected]</span></a>.

FOR FURTHER INFORMATION CONTACT: You may obtain information including a 
copy of the forms and supporting documents from the Agency Clearance 
Officer, Curtis Rich, at (202) 205-7030, or <a href="/cdn-cgi/l/email-protection#b6d5c3c4c2dfc598c4dfd5def6c5d4d798d1d9c0"><span class="__cf_email__" data-cfemail="f0938582849983de82999398b0839291de979f86">[email protected]</span></a>, or 
from Adrienne Grierson, Program Manager, Office of Financial Program 
Operations, at 202-205-6573, or <a href="/cdn-cgi/l/email-protection#a2c3c6d0cbc7ccccc78cc5d0cbc7d0d1cdcce2d1c0c38cc5cdd4"><span class="__cf_email__" data-cfemail="771613051e121919125910051e12050418193704151659101801">[email protected]</span></a>.

SUPPLEMENTARY INFORMATION:

Background

    Section 1102 of the Coronavirus Aid, Relief, and Economic Security 
(CARES) Act, Public Law 116-136, authorized SBA to guarantee loans made 
by banks or other financial institutions under a temporary program 
titled the ``Paycheck Protection Program'' (PPP). These loans were 
available to eligible small businesses, certain non-profit 
organizations, veterans' organizations, Tribal business concerns, 
independent contractors, and self-employed individuals adversely 
impacted by the COVID-19 Emergency. SBA's authority to guarantee PPP 
loans expired on August 8, 2020. On December 27, 2020, SBA received 
reauthorization under the Economic Aid Act, Public Law 116-260, to 
resume guaranteeing PPP loans through March 31, 2021. The Economic

[[Page 40895]]

Aid Act also allowed certain eligible borrowers to receive a second 
draw PPP loan and amended certain other PPP statutory provisions. On 
March 11, 2021, the American Rescue Plan Act, Public Law 117-2, was 
enacted, amending various PPP statutory provisions. On March 30, 2021, 
the PPP Extension Act of 2021 was enacted, extending the SBA's PPP 
program authority through June 30, 2021.
    Subject to certain limitations, proceeds of a PPP loan may be used 
for payroll costs, costs related to the continuation of group health 
care, life, disability, vision or dental benefits during periods of 
paid sick, medical or family leave and group health care, life, 
disability, vision, or dental insurance premiums, mortgage interest 
payments, rent payments, utility payments, interest payments on other 
debt incurred prior to February 15, 2020, refinancing of an eligible 
SBA Economic Injury Disaster Loan, covered operations expenditures, 
covered property damage costs, covered supplier costs, and covered 
worker protection expenditures. Under section 7A of the Small Business 
Act, a PPP loan may be forgiven in full or in part if the PPP borrower 
used the proceeds for the eligible purposes during the loan forgiveness 
covered period.
    Since the initial approval on April 6, 2020, this information 
collection has been amended multiple times to meet the ever-evolving 
needs of the program, as necessitated by statutory program amendments, 
public feedback, or other factors. The information collection is 
currently approved under the emergency procedures authorized by 44 
U.S.C. 3507(j) and 5 CFR 1320.13; this approval is set to expire on 
September 30, 2021. As required by the Paperwork Reduction Act, SBA is 
publishing this notice as a prerequisite to seeking OMB's approval to 
use this information collection beyond September 30, 2021.
    SBA has received multiple comments on this information collection. 
A substantial number of the commenters focused almost exclusively on 
SBA Form 3509, ``Loan Necessity Questionnaire (For-Profit Borrowers)'' 
and SBA Form 3510, ``Loan Necessity Questionnaire (Non-Profit 
Borrowers)'' and urged SBA to remove them from the collection and not 
impose additional reporting requirements on Borrowers. After extensive 
evaluation, SBA is discontinuing the use of these two forms.
    Because SBA's authority to guarantee PPP loans expired on June 30, 
2021, SBA will no longer be approving new lenders to participate in 
PPP. For that reason, SBA is removing SBA Form 3506, ``CARES Act 
Section 1102 Lender Agreement'' and SBA Form 3507, ``CARES Act Section 
1102 Lender Agreement--Non-Bank and Non-Insured Depository Institution 
Lenders.''
    Except for the four forms identified above, all other components of 
this information collection will still be needed for various reasons, 
including reporting by lenders, ongoing loan reviews and requests for 
loan forgiveness. SBA is proposing to make the following amendments to 
the information to be collected after expiration of the program 
authority:
    (A) SBA Form 3508, ``Paycheck Protection Program, Loan Forgiveness 
Application Form 3508'' and Instructions; SBA Form 3508EZ ``Paycheck 
Protection Program, PPP Loan Forgiveness Application Form 3508EZ'' and 
Instructions; and SBA Form 3508S, ``Paycheck Protection Program, PPP 
Loan Forgiveness Application Form 3508S'' and Instructions:
    <bullet> Revise to reflect changes made to the calculation of 
payroll costs by Schedule C filers under the interim final rule titled 
``Business Loan Program Temporary Changes; Paycheck Protection Program 
Revisions to Loan Amount Calculation and Eligibility'' (86 FR 13149, 
March 8, 2021).
    <bullet> Revise to incorporate payroll cost exclusions required by 
the American Rescue Plan Act.
    <bullet> Add fields to capture the amount and date of a loan 
increase.
    <bullet> Delete the question (and related instructions) asking if 
the borrower together with affiliates has $2 million or more in PPP 
loans.
    <bullet> Add Individual Taxpayer Identification Number (ITIN) to 
the header of the ``Business TIN'' field.
    <bullet> Relocate the optional demographic information collection 
box to earlier in the form.
    (B) SBA Form 3508S, ``Paycheck Protection Program, PPP Loan 
Forgiveness Application Form 3508S'' and Instructions only:
    <bullet> Identify data fields that will be pre-populated when a PPP 
borrower submits an electronic version of the SBA Form 3508S via SBA's 
Paycheck Protection Platform (SBA's Platform).
    <bullet> Add instructions regarding submission of an electronic 
version of the SBA Form 3508S via SBA's Platform.
    <bullet> Add information about use of a COVID Revenue Reduction 
Score.
    (C) SBA Form 3508D, ``Paycheck Protection Program, Borrower's 
Disclosure of Certain Controlling Interests'':
    <bullet> Revise to allow for direct borrower submission of the form 
via SBA's Platform.
    (D) [No Form Number] ``Lender Reporting Requirements Concerning 
Requests for Loan Forgiveness'':
    <bullet> Provide an optional process for lenders to allow their PPP 
borrowers to submit an electronic version of SBA Form 3508S through 
SBA's Platform.
    <bullet> Provide an optional process for lenders to use SBA's 
Platform to perform reviews of, issue forgiveness decisions on, and 
request forgiveness payments on SBA Form 3508S forgiveness applications 
submitted by their PPP borrowers.
    <bullet> Provide an optional process for lenders to obtain and use 
a COVID Revenue Reduction Score to confirm revenue reduction for 
certain Second Draw PPP Loan borrowers.
    (E) [No Form Number] ``Lender Reporting Requirements for Loan 
Review'':
    <bullet> Delete requirement for SBA to review all loans of $2 
million or more.

Summary of Information Collection

    Title: Paycheck Protection Loan Program Borrower Information Form 
and Lender's Application for Loan Guaranty.
    OMB Control Number: 3245-0407.
(I) SBA FORM 2483--PAYCHECK PROTECTION PROGRAM BORROWER APPLICATION
    Estimated Number of Respondents: 9,279,434.
    Estimated Annual Responses: 9,279,434.
    Estimated Annual Hour Burden: 1,237,258.
(II) SBA FORM 2483-C--PAYCHECK PROTECTION PROGRAM BORROWER APPLICATION 
FOR SCHEDULE C FILERS USING GROSS INCOME
    Estimated Number of Respondents: 239,160.
    Estimated Annual Responses: 239,160.
    Estimated Annual Hour Burden: 31,888.
(III) SBA FORM 2484--PAYCHECK PROTECTION PROGRAM LENDER'S APPLICATION 
FOR 7(A) GUARANTY
    Estimated Number of Respondents: 5,467.
    Estimated Annual Responses: 9,218,594.
    Estimated Annual Hour Burden: 3,841,081.

[[Page 40896]]

(IV) SBA FORM 3508--PAYCHECK PROTECTION PROGRAM--LOAN FORGIVENESS 
APPLICATION
    Estimated Number of Respondents: 591,180.
    Estimated Annual Responses: 591,180.
    Estimated Annual Hour Burden: 1,773,539.
(V) SBA FORM 3508S, PAYCHECK PROTECTION PROGRAM--PPP LOAN FORGIVENESS 
APPLICATION FORM 3508S
    Estimated Number of Respondents: 9,458,875.
    Estimated Annual Responses: 9,458,875.
    Estimated Annual Hour Burden: 2,364,719.
(VI) SBA FORM 3508EZ--PAYCHECK PROTECTION PROGRAM--PPP LOAN FORGIVENESS 
APPLICATION
    Estimated Number of Respondents: 1,773,539.
    Estimated Annual Responses: 1,773,539.
    Estimated Annual Hour Burden: 591,180.
(VII) [FORM NUMBER N/A] LENDER REPORTING REQUIREMENTS CONCERNING 
REQUESTS FOR LOAN FORGIVENESS
    Estimated Number of Respondents: 5,467.
    Estimated Annual Responses: 11,823,594.
    Estimated Annual Hour Burden: 2,107,121.
(VIII) [FORM NUMBER N/A] LENDER REPORTING REQUIREMENTS FOR SBA LOAN 
REVIEWS
    Estimated Number of Respondents: 5,467.
    Estimated Annual Responses: 2,000,000.
    Estimated Annual Hour Burden: 1,000,000.

Solicitation of Public Comments

    SBA invites the public to submit comments, including specific and 
detailed suggestions on ways to improve the collection and reduce the 
burden on respondents. Commenters should also address (i) whether the 
information collection is necessary for the proper performance of SBA's 
functions, including whether it has any practical utility; (ii) the 
accuracy of the estimated burdens; (iii) ways to enhance the quality, 
utility, and clarity of the information to be collected; and (iv) the 
use of automated collection techniques or other forms of information 
technology to minimize the information collection burden on those who 
are required to respond.

Curtis Rich,
Management Analyst.
[FR Doc. 2021-16014 Filed 7-28-21; 8:45 am]
BILLING CODE 8026-03-P


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