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Federal Register / Vol. 86, No. 143 / Thursday, July 29, 2021 / Notices Aid Act also allowed certain eligible borrowers to receive a second draw PPP
loan and amended certain other PPP
statutory provisions. On March 11, 2021, the American Rescue Plan Act, Public Law 1172, was enacted, amending various PPP statutory provisions. On March 30, 2021, the PPP
Extension Act of 2021 was enacted, extending the SBAs PPP program authority through June 30, 2021.
Subject to certain limitations, proceeds of a PPP loan may be used for payroll costs, costs related to the continuation of group health care, life, disability, vision or dental benefits during periods of paid sick, medical or family leave and group health care, life, disability, vision, or dental insurance premiums, mortgage interest payments, rent payments, utility payments, interest payments on other debt incurred prior to February 15, 2020, refinancing of an eligible SBA Economic Injury Disaster Loan, covered operations expenditures, covered property damage costs, covered supplier costs, and covered worker protection expenditures. Under section 7A of the Small Business Act, a PPP
loan may be forgiven in full or in part if the PPP borrower used the proceeds for the eligible purposes during the loan forgiveness covered period.
Since the initial approval on April 6, 2020, this information collection has been amended multiple times to meet the ever-evolving needs of the program, as necessitated by statutory program amendments, public feedback, or other factors. The information collection is currently approved under the emergency procedures authorized by 44
U.S.C. 3507j and 5 CFR 1320.13; this approval is set to expire on September 30, 2021. As required by the Paperwork Reduction Act, SBA is publishing this notice as a prerequisite to seeking OMBs approval to use this information collection beyond September 30, 2021.
SBA has received multiple comments on this information collection. A
substantial number of the commenters focused almost exclusively on SBA
Form 3509, Loan Necessity Questionnaire For-Profit Borrowers and SBA Form 3510, Loan Necessity Questionnaire Non-Profit Borrowers and urged SBA to remove them from the collection and not impose additional reporting requirements on Borrowers.
After extensive evaluation, SBA is discontinuing the use of these two forms.
Because SBAs authority to guarantee PPP loans expired on June 30, 2021, SBA will no longer be approving new lenders to participate in PPP. For that reason, SBA is removing SBA Form 3506, CARES Act Section 1102 Lender
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Agreement and SBA Form 3507, CARES Act Section 1102 Lender AgreementNon-Bank and Non-Insured Depository Institution Lenders.
Except for the four forms identified above, all other components of this information collection will still be needed for various reasons, including reporting by lenders, ongoing loan reviews and requests for loan forgiveness. SBA is proposing to make the following amendments to the information to be collected after expiration of the program authority:
A SBA Form 3508, Paycheck Protection Program, Loan Forgiveness Application Form 3508 and Instructions; SBA Form 3508EZ
Paycheck Protection Program, PPP
Loan Forgiveness Application Form 3508EZ and Instructions; and SBA
Form 3508S, Paycheck Protection Program, PPP Loan Forgiveness Application Form 3508S and Instructions:
Revise to reflect changes made to the calculation of payroll costs by Schedule C filers under the interim final rule titled Business Loan Program Temporary Changes; Paycheck Protection Program Revisions to Loan Amount Calculation and Eligibility 86
FR 13149, March 8, 2021.
Revise to incorporate payroll cost exclusions required by the American Rescue Plan Act.
Add fields to capture the amount and date of a loan increase.
Delete the question and related instructions asking if the borrower together with affiliates has $2 million or more in PPP loans.
Add Individual Taxpayer Identification Number ITIN to the header of the Business TIN field.
Relocate the optional demographic information collection box to earlier in the form.
B SBA Form 3508S, Paycheck Protection Program, PPP Loan Forgiveness Application Form 3508S
and Instructions only:
Identify data fields that will be prepopulated when a PPP borrower submits an electronic version of the SBA Form 3508S via SBAs Paycheck Protection Platform SBAs Platform.
Add instructions regarding submission of an electronic version of the SBA Form 3508S via SBAs Platform.
Add information about use of a COVID Revenue Reduction Score.
C SBA Form 3508D, Paycheck Protection Program, Borrowers Disclosure of Certain Controlling Interests:

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Revise to allow for direct borrower submission of the form via SBAs Platform.
D No Form Number Lender Reporting Requirements Concerning Requests for Loan Forgiveness:
Provide an optional process for lenders to allow their PPP borrowers to submit an electronic version of SBA
Form 3508S through SBAs Platform.
Provide an optional process for lenders to use SBAs Platform to perform reviews of, issue forgiveness decisions on, and request forgiveness payments on SBA Form 3508S
forgiveness applications submitted by their PPP borrowers.
Provide an optional process for lenders to obtain and use a COVID
Revenue Reduction Score to confirm revenue reduction for certain Second Draw PPP Loan borrowers.
E No Form Number Lender Reporting Requirements for Loan Review:
Delete requirement for SBA to review all loans of $2 million or more.
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:
9,279,434.
Estimated Annual Responses:
9,279,434.
Estimated Annual Hour Burden:
1,237,258.
II SBA FORM 2483CPAYCHECK
PROTECTION PROGRAM BORROWER
APPLICATION FOR SCHEDULE C
FILERS USING GROSS INCOME
Estimated Number of Respondents:
239,160.
Estimated Annual Responses:
239,160.
Estimated Annual Hour Burden:
31,888.
III SBA FORM 2484PAYCHECK
PROTECTION PROGRAM LENDERS
APPLICATION FOR 7A GUARANTY
Estimated Number of Respondents:
5,467.
Estimated Annual Responses:
9,218,594.
Estimated Annual Hour Burden:
3,841,081.

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