Justification for Non-Substantive Change

U.S. Small Business Administration

Washington, D.C. 20416

Date: July 1, 2025

To: Susan Minson

SBA Desk Officer

Office of Information and Regulatory Affairs (OIRA)

Office of Management and Budget (OMB)

From: Louis A. Cupp

Office of Investment and Innovation

Subject: Urgent PRA Non-Substantive Change Request for OMB Control #3245-0063

OMB Approval Date: 08/21/2023; Expiration Date: 08/31/2026

SBA’s Office of Investment and Innovation (OII) requests urgent approval of non-substantive and/or technical changes to the architecture of an approved information collection, SBA Form 468, SBIC Financial Reports. These non-substantive changes address issues identified by users and auditors since the last upgraded version (v5.0) OMB approved on March 5, 2025.

Justification for changes to original submission

The urgency for OMB approval is to allow SBA to publish to its website the upgraded version (v6.0) of SBA Form 468 and provide to Small Business Investment Companies (SBICs) for immediate use in financial reporting of the quarter ending 06/30/2024 (due 45 days after quarter end). SBA has continued to work with SBIC CFOs to identify minor revisions to the SBA Form 468, largely in the areas of data validation and the ‘locking’ or ‘unlocking’ of hidden formulas. Refinement to v6.0 is largely technical or cosmetic and not readily visible to respondents until entering specific financial information. Three modifications are addressed in corresponding changes to the Instructions to provide clarification to respondents. No changes have been made to the Reinvestor Exhibit other than to change the version number to keep all consistent and less confusing to respondents.

Circumstances necessitating the collection of information restated.

No substantive changes were made to the information collection as approved by OMB, and there is no impact on burden hours associated with v6.0 of SBA Form 468.

Under separate cover and via email from Lindsey.McCready@sba.gov, OMB will receive an Excel ‘change log’ of non-substantive and/or technical changes to the SBA Form 468 v5.0 to v6.0.

If you have any questions concerning this memorandum, please contact me via email at Louis.Cupp@sba.gov or by phone (202) 365-8687.