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[Federal Register Volume 79, Number 210 (Thursday, October 30, 2014)]
[Notices]
[Pages 64644-64645]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-25821]

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SMALL BUSINESS ADMINISTRATION

Reporting and Recordkeeping Requirements Under OMB Review

AGENCY: Small Business Administration.

ACTION: 30-Day notice.

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SUMMARY: The Small Business Administration (SBA) is publishing this 
notice to comply with requirements of the Paperwork Reduction Act (PRA) 
(44 U.S.C. Chapter 35), which requires agencies to submit proposed 
reporting and recordkeeping requirements to OMB for review and 
approval, and to publish a notice in the Federal Register notifying the 
public that the agency has made such a submission. This notice also 
allows an additional 30 days for public comments.

DATES: Submit comments on or before December 1, 2014.

ADDRESSES: Comments should refer to the information collection by name 
and/or OMB Control Number and should be sent to: Agency Clearance 
Officer, Curtis Rich, Small Business Administration, 409 3rd Street 
SW., 5th Floor, Washington, DC 20416; and SBA Desk Officer, Office of 
Information and Regulatory Affairs, Office of Management and Budget, 
New Executive Office Building, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Curtis Rich, Agency Clearance Officer, 
(202) 205-7030 [email protected]
    Copies: A copy of the Form OMB 83-1, supporting statement, and 
other documents submitted to OMB for review may be obtained from the 
Agency Clearance Officer.

SUPPLEMENTARY INFORMATION: The Small Business Investment Act authorizes 
SBA to guarantee a debenture issued by a Certified Development Company 
(CDC). The proceeds from each

[[Page 64645]]

debenture are used to fund loans to eligible small business concerns 
(``504 loans''). 15 U.S.C. 697(a). The Small Business Act and the Small 
Business Investment Act mandate that all guaranteed loans provided by 
the SBA to small business concerns (SBCs) must have a reasonable 
assurance of ability to repay. See 15 U.S.C. 636(a) (6) and 687(f); see 
also 13 CFR 120.150. The information collections described below--SBA 
Form 1244 and SBA Form 2450--are part of the application process for a 
504 loan. SBA is proposing to make changes to Form 2450 to remove 
duplicative questions as well as questions that are no longer 
applicable to the 504 Loan Program.

Solicitation of Public Comments

    Comments may be submitted on (a) whether the collection of 
information is necessary for the agency to properly perform its 
functions; (b) whether the burden estimates are accurate; (c) whether 
there are ways to minimize the burden, including through the use of 
automated techniques or other forms of information technology; and (d) 
whether there are ways to enhance the quality, utility, and clarity of 
the information.

Summary of Information Collections

    (1) Title: Application for Section 504 Loan
    Description of Respondents: Small Business Concerns applying for a 
Section 504 loan and Certified Development Companies.
    Form Number: SBA Form 1244 collects information that is used to 
determine the creditworthiness and repayment ability of the small 
business concern and its eligibility for SBA financial assistance; as 
well as the terms and conditions of the 504 loan. Form 1244 is also 
used by CDCs to request SBA's guarantee on the debenture. SBA Form 2450 
is the Eligibility Checklist used to document the 504 loan's 
eligibility based on program requirements. These forms are used by CDCs 
to request SBA's guarantee on each debenture.
    Estimated Annual Respondents: 7,760.
    Estimated Annual Responses: 7,760.
    Estimated Annual Hour Burden: 18,614.

Curtis B. Rich,
Management Analyst.
[FR Doc. 2014-25821 Filed 10-29-14; 8:45 am]
BILLING CODE 8025-01-P
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