HR1804Passed House

7(a) Loan Agent Oversight Act

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Introduced
In Committee
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-03-03
Introduced
1
Cosponsors
HR
ⓘ
Type

Sponsor

Daniel Meuser
Daniel Meuser
Republican · PA · Representative
Votes with party: 97.9% (574 recorded votes)

Full profile: /officials/M001204

Source: Congress.gov · FEC

Cosponsors (1)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

1 cosponsor on record at Congress.gov. The named list is syncing into Govwatch and will appear here shortly — view on Congress.gov in the meantime.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

2025-06-04

Source: Congress.gov

Committee Activity

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Plain-English Summary

7(a) Loan Agent Oversight Act This 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.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Commerce
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Related legislation

Bills by the same sponsor or covering overlapping subjects.