🏦SBA Seeks Public Comments on Data Collection for Loan Programs
Data Collection Available for Public Comments
Summary
The Small Business Administration (SBA) intends to request approval from the Office of Management and Budget (OMB) for the collection of information described below. The Paperwork Reduction Act (PRA) requires federal agencies to publish a notice in the Federal Register concerning each proposed collection of information before submission to OMB, and to allow 60 days for public comment in response to the notice. This notice complies with that requirement.
Agencies
- Small Business Administration
Business Impact
$$ - Med
The SBA's proposal involves information collection necessary for loan processes under the 7(a) Loan Program, impacting compliance and regulatory requirements for lenders and borrowers. The change requires attention from business owners to ensure compliance and accuracy in documenting loan proceeds.