Nov 02 SBA IS SEEKING COMMENTS ON PROPOSED COLLECTION OF INFORMATION FOR PPP BORROWERS WITH LOANS OVER $2 MILLION
In an effort to gather supporting information behind Paycheck Protection Program (PPP) loans in excess of $2 million, the Small Business Administration (SBA) recently received emergency approval and released the following questionnaires:
- Form 3509: Paycheck Protection Program Loan Necessity Questionnaire (For-Profit Borrowers)
- Form 3510: Paycheck Protection Program Loan Necessity Questionnaire (Non-Profit Borrowers)
The SBA notice is seeking approval from the Office of Management and Budget for the information collection and allowing all interested members of the public an additional 30 days to provide comments on the proposed collection of information. The deadline to submit comments is November 25, 2020.
Comments should refer to the information collection by title “Paycheck Protection Program” and/or OMB Control Number 3245-0407. The comments should be sent to: Agency Clearance Officer, Curtis Rich, Small Business Administration, 409 3rd Street SW, 5th Floor, Washington, DC 20416; and SBA Desk Officer, Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Washington, DC 20503. For further information contact Mr. Rich at (202) 205-7030 or [email protected].
The notice seeks public comments on the information collection regarding:
(a) whether the collection of information is necessary for the agency to properly perform its functions;
(b) whether the burden estimates are accurate;
(c) whether there are ways to minimize the burden, including through the use of automated techniques or other forms of information technology; and
(d) whether there are ways to enhance the quality, utility, and clarity of the information.
Sax will continue to update you as further details are made available. Reach out to your Sax advisor or email [email protected] with questions. For more and on-going information relative to your state and business, visit Sax’s COVID-19 Resource Center.
 SBA affiliation rules stipulated in 85 FR 20817 apply.