Notice of Request for Approval of New Information Collection

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