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H.R. 1804

BillFederalHousePassed House
7(a) Loan Agent Oversight Act
About This Bill
Passed
Latest Action · June 4, 2025
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Introduced
March 3, 2025
Cosponsors (1)
1D 0R
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119th (2025–2027)
H.R. 1804
7(a) Loan Agent Oversight ActThis bill requires the Small Business Administration (SBA) to submit an annual report containing specified information related to 7(a) loan agents. These agents provide fee-based referral and loan application services related to the SBA's 7(a) Program. Under the 7(a) Program, the SBA provides loans and loan guarantees to small business borrowers who cannot obtain credit elsewhere on reasonable terms and conditions.The required report must include (1) the number and type of agents assisting applicants for 7(a) loans, (2) the number of fraudulent loans made for which an applicant used the services of a 7(a) agent, (3) the purchase rate of loans for which an applicant used the services of a 7(a) agent, and (4) the number and aggregate dollar value of referral fees paid to 7(a) agents.

https://www.congress.gov/119/bills/hr1804/BILLS-119hr1804rfs.htm

https://www.congress.gov/119/bills/hr1804/BILLS-119hr1804rfs.htm

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