SBA Seeks Feedback on CDC Paperwork
Published Date: 3/3/2025
Notice
Summary
The Small Business Administration (SBA) is asking for public feedback on the paperwork rules for Certified Development Companies (CDCs) that help small businesses get loans. They want to make sure the reporting forms are clear and not too much work. If you’re involved with a CDC, you’ve got until April 2, 2025, to share your thoughts—no extra costs or big changes yet, just a chance to improve the process!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
CDC Annual Report Reporting Burden
Certified Development Companies (CDCs) are required by 13 CFR 120.830 to submit an Annual Report to the SBA using SBA Form 1253 (OMB Control Number 3245-0074). The SBA estimates 195 respondents and 195 annual responses with an estimated total annual hour burden of 5,460 hours for this information collection.
30-Day Public Comment Opportunity
The SBA is soliciting public comments on the CDC Annual Report collection and related burden estimates; comments must be submitted by April 2, 2025. SBA specifically asks for input on necessity, accuracy of burden estimates, ways to minimize burden (including automation), and ways to improve the clarity and utility of the information.
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Key Dates
Department and Agencies
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