Small Business 7(a) Loan Agent Transparency Act
- Last Action
- 6/5/2023
Actions
- 2023-06-05Placed on the Union Calendar, Calendar No. 77.
- 2023-06-05Reported by the Committee on Small Business. H. Rept. 118-100.
- 2023-06-05Reported by the Committee on Small Business. H. Rept. 118-100.
- 2023-05-23Ordered to be Reported Without Recommendation by the Yeas and Nays: 21 - 0.
- 2023-05-23Committee Consideration and Mark-up Session Held
- 2023-03-17Referred to the House Committee on Small Business.
- 2023-03-17Introduced in House
- 2023-03-17Introduced in House
CRS Summary
As of 2023-06-05 (07)
Small Business 7(a) Loan Agent Transparency Act
This bill provides oversight of 7(a) loan agents, including by requiring the Small Business Administration (SBA) to establish a registration system for such agents whereby certain data may be collected and by mandating that such agents register with the system and pay an annual registration fee.
These agents provide 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.
Cosponsors (1)
- Daniel Meuser (R-PA)
Subjects
- Government lending and loan guarantees
- Licensing and registrations
- Small business
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.