[Federal Register Volume 63, Number 76 (Tuesday, April 21, 1998)]
[Notices]
[Page 19704]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-10433]
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DEPARTMENT OF AGRICULTURE
Rural Business--Cooperative Service
Notice of Request for Approval of New Information Collection
AGENCY: Rural Business--Cooperative Service, USDA.
ACTION: Proposed collection; comments requested.
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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this
notice announces RBS' intention to request approval of information
collection in support of the Intermediary Relending Program (IRP),
Rural Business Enterprise Grant Program, and Rural Economic Development
Grant Program.
DATES: Comments on this notice must be received by June 22, 1998.
FOR FURTHER INFORMATION CONTACT: M. Wayne Stansbery, Loan Specialist,
Rural Business--Cooperative Service, USDA, STOP 1521, Washington, DC
20250, Telephone: (202) 720-6819.
SUPPLEMENTARY INFORMATION:
Title: Survey of revolving loan funds capitalized by USDA Rural
Development.
Type of Request: New Information Collection.
Abstract: The Rural Business--Cooperative Service (RBS), an agency
within the Rural Development mission area of the United States
Department of Agriculture, operates several programs that provide funds
to intermediary organizations (intermediaries) to be used for loans to
third-party recipients (ultimate recipients). RBS has entered into a
cooperative agreement with Virginia Polytechnic Institute and State
University (VA Tech) to develop an automated data base of information
on ultimate recipient loans.
Information will be collected from intermediaries about each
ultimate recipient loan, to identify the borrower, date of the loan,
loan size, terms, interest rates, collateral, repayment history,
location, type of business, jobs impacted, other funds leveraged, and
minority owned businesses assisted.
The first reason for developing the data base is to analyze the
feasibility of secondary market sales of the loans held by the
intermediaries. The data will help to determine whether the loans are
salable and, if so, under what terms and conditions. If determined
feasible, secondary market sales of loans will allow intermediaries
that have received and used money to establish revolving funds to
recapitalize almost immediately with private funds, rather than waiting
for term loans to be repaid over time.
The second reason for creating the data base is to give RBS better
measures and more accurate and complete information for measuring
program impact, in accordance with the National Performance and Results
Act. Without more data on the ultimate recipients, RBS is limited in
its ability to measure the full impact of programs that operate through
intermediaries and ultimate recipients.
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average 3 hours per response.
Respondents: Non-profit corporations, public agencies, Indian
tribes, and cooperatives.
Estimated Number of Respondents: 550.
Estimated Number of Annual Responses per Respondent: 1.
Estimated Total Annual Burden on Respondents: 2750 hours.
Copies of this information collection can be obtained from Cheryl
Thompson, Programs Team Information Collection Coordinator, (202) 720-
9750.
Comments
Comments are invited on: (a) Whether the proposed collection of
information is necessary for the proper performance of the functions of
the Agency, including whether the information will have practical
utility; (b) the accuracy of the agency's estimate of the burden of the
proposed collection of information including the validity of the
methodology and assumptions used; (c) ways to enhance the quality,
utility, and clarity of the information to be collected; and (d) ways
to minimize the burden of the collection of information on those who
respond, including through the use of appropriate automated,
electronic, mechanical, or other technological collection techniques or
other forms of information technology. Comments may be sent to Cheryl
Thompson, Regulations and Paperwork Management Branch, U.S. Department
of Agriculture, Rural Development, STOP 0743, 1400 Independence Avenue,
SW, Washington, DC 20250-0743. Comments may be submitted via the
Internet by addressing them to ``Comments@rus.usda.gov'' and must
contain the word ``revolving'' in the subject. All responses to this
notice will be summarized and included in the request for OMB approval.
All comments will become a matter of public record.
Dated: April 9, 1998.
Dayton J. Watkins,
Administrator, Rural Business--Cooperative Service.
[FR Doc. 98-10433 Filed 4-20-98; 8:45 am]
BILLING CODE 3410-XY-U
