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H.R. 1804: 7(a) Loan Agent Oversight Act

119th Congress · introduced 2025-03-03 · Commerce · Latest: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

federal

What does this mean?

Official title

7(a) Loan Agent Oversight Act

Plain 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.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

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What does this mean? (plain words)

Official text

7(a) Loan Agent Oversight Act

Source: Congressional Research Service summary (Introduced in House)

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Officials and money

Sponsor: Rep. Meuser, Daniel [R-PA-9] · 1 cosponsors

Money: CBO cost estimate: H.R. 1804, 7(a) Loan Agent Oversight Act (2025-04-07) No linked contracts or vendors yet.

Recorded votes

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong119-hr1804 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills