Application for Section 504 Loan

Forms and Documents

Document Name	Status
Form SBA Form 1244 U.S. Small Business Administration Application for Section 504 Loan Form and Instruction	Modified
3245-0071 504 References - Small Business Act (Revision 17) 5-25-2020.pdf Supplementary Document	2020-05-28
3245-0071 Title 15 USC 636 5-28-2020.pdf Supplementary Document	2020-05-28
3245-0071 13 CFR 120.150 Reg 5-25-2020.pdf Supplementary Document	2020-05-28
3245-0071 Revision of Privacy 5-25-2020.pdf Supplementary Document	2020-05-28
3245-0071 15 USC 697 Reg 5-25-2020.pdf Supplementary Document	2020-05-28
3245-0071 15 USC 687 Reg 5-25-2020.pdf Supplementary Document	2020-05-28
3245-0071 Privacy Act 1974 5-25-2020.pdf Supplementary Document	2020-05-28
3245-0071 Privacy Act 77 FR 15835 5-25-2020.pdf Supplementary Document	2020-05-28
3245-0071 Supporting Statement - Form 1244 5-25-2020.docx Supporting Statement A	2020-05-28

IC Document Collections

IC ID	Document Title	Status
35619	U.S. Small Business Administration Application for Section 504 Loan Form and Instruction	Modified

ICR Details

OMB Control No: 3245-0071	ICR Reference No: 202005-3245-004
Status: Active	Previous ICR Reference No: 201609-3245-002
Agency/Subagency: SBA	Agency Tracking No:
Title: Application for Section 504 Loan
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/27/2020
	Date Received in OIRA: 05/28/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2023	36 Months From Approved	07/31/2020
Responses	6,008	0	9,100
Time Burden (Hours)	13,334	0	21,749
Cost Burden (Dollars)	0	0	0

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Abstract: 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.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: US Code: 15 USC 697 Name of Law: 504 and 7(a) Loan Program

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 8331	02/13/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 28946	05/14/2020
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
U.S. Small Business Administration Application for Section 504 Loan	SBA Form 1244	Application for Section 504 Loans

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	6,008	9,100	0	-3,092	0	0
Annual Time Burden (Hours)	13,334	21,749	0	-8,415	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The decrease comes from the SBA receiving fewer Form 1244 submissions year-over-year and the SBA deciding to retire the Form 2450.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 05/28/2020

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