SBA Seeks Feedback on Disaster Loan Spending-Verification Form
Published Date: 6/17/2025
Notice
Summary
The Small Business Administration (SBA) wants your thoughts on a form disaster loan borrowers fill out to prove they used their loan money correctly. This helps SBA keep things fair and clear. If you have ideas on making this process easier or better, speak up by August 18, 2025—your feedback could save time and hassle for thousands of small businesses!
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Disaster loan borrowers must certify spending
If you have an SBA disaster loan, you must submit a Borrower's Progress Certification (SBA Form 1366, OMB Control Number 3245-0110) before SBA approves any subsequent loan disbursement. The certification requires showing you used loan proceeds only for authorized purposes and making certain financial and compensation-related certifications. SBA estimates this collection will generate 25,682 annual responses and impose a total annual burden of 12,841 hours.
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