The Small Business Administration is seeking comments on the information it collects for the Paycheck Protection Program and if there are ways to enhance the quality of the data collected.
SBA states in its Tuesday Federal Register notice that to make financial assistance available as expeditiously as possible after the PPP was authorized, SBA obtained emergency approval of the information collection necessary to implement the program.
Federal agencies that want to collect information — requiring borrowers to fill out forms, for example — are required to seek public comments first. The emergency approval of the PPP included a waiver of that 60-day comment period.
That approval will expire on Oct. 30. SBA plans to ask the Office of Management and Budget to extend that date. Such a extension would enable the agency to remain in compliance with the paperwork reduction act (PRA) as it continues to collect information from PPP participants, it says.