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HOUSE 1804119th CongressReceived in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

7(a) Loan Agent Oversight Act

Last Action
6/4/2025

Actions

  • 2025-06-04Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
  • 2025-06-03Motion to reconsider laid on the table Agreed to without objection.
  • 2025-06-03On 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)
  • 2025-06-03Passed/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)
  • 2025-06-03Considered as unfinished business. (consideration: CR H2403-2404)
  • 2025-06-03At 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.
  • 2025-06-03DEBATE - The House proceeded with forty minutes of debate on H.R. 1804.
  • 2025-06-03Considered under suspension of the rules. (consideration: CR H2398-2399)
  • 2025-06-03Mr. Williams (TX) moved to suspend the rules and pass the bill.
  • 2025-03-24Placed on the Union Calendar, Calendar No. 22.
  • 2025-03-24Reported by the Committee on Small Business. H. Rept. 119-33.
  • 2025-03-24Reported by the Committee on Small Business. H. Rept. 119-33.
  • 2025-03-05Ordered to be Reported by the Yeas and Nays: 25 - 0.
  • 2025-03-05Committee Consideration and Mark-up Session Held
  • 2025-03-03Referred to the House Committee on Small Business.

Showing 15 of 17 actions. Full history on Congress.gov.

CRS Summary

As of 2025-03-03 (00)

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.

Cosponsors (1)

  • LaMonica McIver (D-NJ)

Subjects

  • Congressional oversight
  • Fraud offenses and financial crimes
  • Government information and archives
  • Government lending and loan guarantees
  • Government studies and investigations
Read on Congress.gov

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.