The Small Business Administration (SBA) is requesting approval from the Office of Management and Budget (OMB) to collect information about the SBA Microloan Program. This program involves surveys and interviews with program participants, such as borrowers and lenders, to evaluate impacts on business growth, revenue, and job creation. The public has until February 11, 2021, to provide comments on the information collection plan. The feedback will help the SBA improve the program and reduce the burden of future data collection.
Simple Explanation
The Small Business Administration wants to ask people in their microloan program some questions to see how it helps them, but they're making sure to give everyone a chance to say how they feel about these questions. They need to check things like how safe the answers are and who will be asked these questions, but they’re still working out all the details.