Govoptes

HR 1804 · 7(a) Loan Agent Oversight Act

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

Introduced
Mar 3, 2025
Latest action
Jun 4, 2025
Sponsor
Rep. Daniel Meuser [R-PA-9]
Policy area
Commerce
Cosponsors
1

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.

Recent actions

  1. Jun 4, 2025 Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
  2. Jun 3, 2025 Motion to reconsider laid on the table Agreed to without objection.
  3. Jun 3, 2025 On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 405 - 3 (Roll no. 147). (text: CR H2398)
  4. Jun 3, 2025 Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 405 - 3 (Roll no. 147). (text: CR H2398)
  5. Jun 3, 2025 Considered as unfinished business. (consideration: CR H2403-2404)
  6. Jun 3, 2025 At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  7. Jun 3, 2025 DEBATE - The House proceeded with forty minutes of debate on H.R. 1804.
  8. Jun 3, 2025 Considered under suspension of the rules. (consideration: CR H2398-2399)

Votes

Related pages