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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.
Introduced
Mar 3, 2025
Last Action
Jun 4, 2025
Session
119th Congress
Sponsors
1 primary · 1 co
Passage Probability
2% — Very Low
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Considered under suspension of the rules.
Mr. Williams (TX) moved to suspend the rules and pass the bill.
DEBATE - The House proceeded with forty minutes of debate on H.R. 1804.
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.
Considered as unfinished business.
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).
Motion to reconsider laid on the table Agreed to without objection.
Reported by the Committee on Small Business. H. Rept. 119-33.
Placed on the Union Calendar, Calendar No. 22.
Committee Consideration and Mark-up Session Held
Ordered to be Reported by the Yeas and Nays: 25 - 0.
Referred to the House Committee on Small Business.
Introduced in House
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2%
Estimate based on legislative signals
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Upgrade to ProReceived in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.