DFC-001 - Supporting Statement

DFC-001
[OMB-3015-XXX]
Application for Debt Financing
SUPPORTING STATEMENT FOR APPROVAL
A.

Justification

1.

Legal authority for this information collection is found in the Better Utilization of
Investments Leading to Development Act of 2018 (the “BUILD Act”), Public Law 115254. DFC-001 Application for Debt Financing is the principal document to be used by the
U.S. International Development Finance Corporation (“DFC”) to determine if the proposed
transaction is eligible for DFC Finance products and whether it meets required underwriting
criteria.

2.

The Application for Debt Financing will be the principal document used by the agency to
determine the investor’s and the project’s eligibility for debt financing and will collect
information for financial underwriting analysis.

3.

This form is completed with the use of a web-based application. This provides a secure
and efficient means for applicants to transmit the required information to the agency.

4.

The information collected is not duplicated elsewhere. The information is not already
available in any other electronic form and would not be requested by another federal
agency or lending institution since it is applicable solely to DFC’s finance program.

5.

DFC’s applicants include large and small businesses and entrepreneurs. The same questions
are asked of all applicants. The complexity of the answers will depend upon the nature of
the project for which DFC financing is being requested.

6.

Without a form to collect the information, the amount of staff time needed to gather the
requisite information would be significantly greater and would result in multiple requests
for information from program users. This would reduce the amount of time that could be
devoted to working with applicants/clients and credit analysis and underwriting, thereby
reducing the productivity and administrative efficiency of the finance program.

7.

No special circumstances exist that require the information collection to be conducted in
a manner inconsistent with the guidelines of the Paperwork Reduction Act and OMB's
implementing regulations.

8.

The first Federal Register Notice was published on March 22, 2019 (84 FR 10843).
The agency received public comments and, pursuant to those comments, made two
edits. The second Federal Register Notice was published on June 21, 2019
(84 FR 29249)
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9.

No payments and gifts are offered to respondents.

10.

When trade secrets or confidential commercial or financial information are submitted to
the agency in this collection, they will be held in confidence to the extent permitted by
applicable law including the Freedom of Information Act (“FOIA”) at 5 U.S.C. section
552(b)(4) and the agency’s implementing regulations at 22 C.F.R. Part 706.

11. Not applicable. None of the questions on this form are of a sensitive nature.
12.

The estimated burden of collecting this information is as follows:
220 respondents
x 1 per respondent
=220 total annual responses
x (1.5 hours per average respondent)
=330 respondent hours
x $75/hour for personnel, record-keeping, overhead
$24,750 total cost to respondents
Respondents only complete the form once per request for financing.

13.

The estimated annualized cost to respondents is as follows:
(a) Total capital and start-up costs: $0
(b) Total operation and maintenance costs: $0.
All costs associated with the form are part of the normal cost of doing business. Since
all submissions will be electronic and stored on DFC’s secure servers, there will be no
postage or storage costs.

14. The estimated
220
x1
220
x1
220
x $56.15
$12,353.00
15.

annualized cost to the Federal government is as follows:
respondents per year
per respondent
total annual responses
average hours to review one response
total federal hours
GS-14/1 (DCB) hourly wage
total cost to the Federal government

This is a new information collection.

16. Not applicable. Information provided in the application is not published.
17. Not applicable. The OMB expiration date will be printed on each form.
18. Not applicable. No exceptions are being requested on the certification statement.

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