🏦SBA Seeks Comments on Updated Borrower Information Collection
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 a revision to 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
$$$ - High
The SBA is updating the SBA 504 Borrower Information Form, which affects small business concerns applying for financial loans, necessitating compliance with revised information collection requirements and citizen eligibility criteria. This impacts access to financial assistance programs critical for business growth.