Respondents are applicants for a
Certified Development Company (CDC) loan (or 504 loan) and the
CDC's certified by SBA to issue such loans. The information is
necessary for the Small Business Administration (SBA) to determine
whether applicants meet the Agency's criteria for eligibility,
creditworthiness, and repayment ability, and also whether to
approve CDC's request for debenture guarantees.
December 28, 2021 Ms.
Susan Minson 0MB Desk Officer Office of Information and Regulatory
Affairs Office of Management and Budget 725 17th Street, NW
Washington, DC 20503 409 3rd Street, SW Washington, DC 20416 Dear
Ms. Minson: Pursuant to the Office of Management and Budget (0MB)
procedures established at 5 CFR 1320, the Small Business
Administration (SBA) requests that the collection of information
associated with the application form for a 504 loan (SBA Form 1244)
be processed in accordance with section 1320.13, Emergency
Processing, by January 14, 2022. The application form needs to be
updated as soon as possible to incorporate the changes made by
Section 328(b) of the Economic Aid to Hard Hit Small Businesses,
Nonprofits, and Venues Act (the Economic Aid Act) to the criteria
for 504 Express (referred to by SBA as ALP Express) under SBA' s
504 Loan Program. The changes being made to conform the form to the
Economic Aid Act amendments, include adding an option for CDCs to
select "ALP Express" as a submission method and revising the
instructions to clarify submission procedures and the exhibits to
be submitted for each type of submission. SBA has determined that
the revisions to this information collection are essential to SBA's
ability to delegate the increased authority granted to ALP CDCs to
make ALP Express loans, and in order to implement the revisions as
expeditiously as a possible, the information collection must be
revised prior to the expiration off time periods established under
Part 1320. Further delaying implementation of the ALP Express loan
authority of the Economic Aid Act would cause harm to the 504
borrowers who are depending on this program efficiency. SBA also
requests a waiver from the requirement to publish the public
comment notice in the Federal Register before seeking review. SBA
will publish the required notices before seeking standard review
and approval for continued use of this information collection after
the emergency period expires. Dianna L. Seaborn Director Office of
Financial Assistance
None
US Code: 15 USC 697 Name of Law: 504 and 7(a)
Loan Program
The total annual hour burden is
estimated to decrease slightly compared to the last submission.
While FY 2021 was a record-breaking year for 504 loan submissions,
this increased activity was due primarily to the availability of
enhanced financial benefits authorized by the CARES Act. Since
those benefits have expired , SBA has no indication that this
higher level of 504 program activity will be sustained in FY
2022.
$622,913
No
No
No
No
No
No
No
Mary Frias 202 401-8234
mary.frias@sba.gov
No
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.
Form SBA Form 1244 U.S. Small Business Administration Application for Section 504 Loan
3245-0071 ALP Express EAA Authority 12-29-2021.docx
3245-0071 15USC 12-29-2021.pdf
U.S. Small Business Administration Application for Section 504 Loan