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Federal Register / Vol. 86, No. 1 / Monday, January 4, 2021 / Notices loan may be forgiven in full or in part if the PPP borrower uses the proceeds for payroll costs, payment of interest on a covered mortgage, payment on any covered rent obligation, and any covered utility payment.
In order to make the financial assistance available as expeditiously as possible after the PPP was authorized, on April 6, 2020, SBA obtained emergency approval, including waiver of the 60-day and 30-day public comment notices, to collect the information necessary to process applications for the program. SBA
amended the emergency approved information collection on several occasions as the need to quickly implement other aspects of the PPP
e.g., loan reviews, loan forgiveness or expansion of eligibility requirements arose. SBA subsequently published the 60-day notice on July 14, 2020,1 and the 30-day notice on October 26, 2020 2 to solicit comments on the information collection.
At the time SBA published the 60-day notice, the Agency had not yet developed Form 3508S, a PPP Loan Forgiveness Application; Form 3509, Loan Necessity Questionnaire ForProfit Borrowers; and SBA Form 3510, Loan Necessity Questionnaire NonProfit Borrowers; therefore, they were not referenced in a public comment notice until the 30-day notice.
Borrowers that received a PPP loan of $50,000 or less may use Form 3508S to apply for forgiveness of the loan unless the borrower, together with its affiliates, received PPP loans totaling $2 million or greater. This form was developed to streamline the process for borrowers with very small loans. Forms 3509 and 3510 are designed to collect additional information from non-profit or for-profit borrowers that together with their affiliates received PPP loans of $2
million or more. The information will be collected during SBAs review of these loans, which includes an assessment of the borrowers good-faith certifications that due to the economic uncertainty their PPP loan requests were necessary to support ongoing operations. As part of their response to the questionnaire, borrowers may include a statement regarding the circumstances that provided the basis for their good-faith loan necessity certification.
SBA received multiple comments in response to the notices, particularly the 30-day notice. Generally, commenters focused almost exclusively on SBA
Form 3509 and SBA Form 3510.
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Commenters expressed concern that the affected public had not been given adequate notice to review or comment on these two forms. Accordingly, SBA is publishing this notice to provide 60
days for the public to review the PPP
information collection, particularly these two forms.
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 SBAs 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.
Summary of Information Collection Title: Paycheck Protection Loan Program Borrower Information Form and Lenders Application for Loan Guaranty.
OMB Control Number: 32450407.
i SBA Form 2483Paycheck Protection Program Borrower Application Estimated Number of Respondents:
5,500,000.
Estimated Annual Responses:
5,500,000.
Estimated Annual Hour Burden:
733,333.
ii SBA Form 2484Paycheck Protection Program Lenders Application for 7a Guaranty Estimated Number of Respondents:
5,460
Estimated Annual Responses:
5,212,128.
Estimated Annual Hour Burden:
2,171,720.
iii SBA Form 3506CARES Act Section 1102 Lender Agreement Number of Respondents: 751.
Total Annual Responses: 751.
Estimated Annual Hour Burden: 125.
iv SBA Form 3507CARES Act Section 1102 Lender AgreementNonBank and Non-Insured Depository Institution Lender Number of Respondents: 147.
Number of Responses: 147.
Total Estimated Annual Hour Burden:
61.

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v SBA Form 3508Paycheck Protection ProgramLoan Forgiveness Application Estimated Number of Respondents:
260,606.
Estimated Annual Responses:
260,606.
Estimated Annual Hour Burden:
781,819.
vi SBA Form 3508S, Paycheck Protection ProgramPPP Loan Forgiveness Application Form 3508S
Estimated Number of Respondents:
3,574,000.
Estimated Annual Responses:
3,574,000.
Estimated Annual Hour Burden:
893,500.
vii SBA Form 3508EZPaycheck Protection ProgramPPP Loan Forgiveness Application Estimated Number of Respondents:
1,377,522.
Estimated Annual Responses:
1,377,522.
Estimated Annual Hour Burden:
459,174.
viii Form Number N/A Lender Reporting Requirements Concerning Requests for Loan Forgiveness Estimated Number of Respondents:
5,460.
Estimated Annual Responses:
5,212,128.
Estimated Annual Hour Burden:
1,070,350.
ix Form Number N/A Lender Reporting Requirements for SBA Loan Reviews Estimated Number of Respondents:
5,460.
Estimated Annual Responses:
1,950,000.
Estimated Annual Hour Burden:
975,000.
x SBA Form 3509Loan Necessity Questionnaire For-Profit Borrowers Estimated Number of Respondents:
42,000.
Estimated Annual Responses: 37,000.
Estimated Annual Hour Burden:
67,333.
xi SBA Form 3510Loan Necessity Questionnaire Non-Profit Borrowers Estimated Number of Respondents:
10,000.
Estimated Annual Responses: 5,000.
Estimated Annual Hour Burden:
9,167.
Curtis Rich, Management Analyst.
FR Doc. 202029012 Filed 123120; 8:45 am BILLING CODE 802603P

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