On March 29, 2023, SBA published a Notice in the Federal Register, Data Available for Public Comment (88 FR 18623) providing notice that SBA intends to request approval from the Office of Management and Budget (OMB) for the collection of information used to determine 7(a) program eligibility and compliance:  SBA Borrower Information Form, Lenders Application for Guaranty, and 7(a) Loan Post Approval Action Checklist (SBA Forms 1919, 1920 A, 1920 B, 1920 C, 2237 and 2238).

The Notice request public comments on the data collection and specifically requests comments regarding:

  1. Whether the collection of information is necessary for the agency to properly perform its functions;
  2. Whether the SBA burden hour estimates are accurate; and,
  3. Whether there are ways to minimize the burden, including through the use of automated techniques or other forms of information technology; and
  4. Whether there are ways to enhance the quality, utility, and clarity of the information.

The comment period closes on May 30, 2023.  Given the major program revisions included in the pending Proposed Rules, NAGGL encourages all 7(a) program participants to carefully review the cited documents and provide their comments to SBA.