HR 1804
Passed a chamber
Requires the Small Business Administration to submit an annual report to Congress on the agents who help applicants obtain 7(a) loans, including their number, fees, fraud rates, and loan risk.
Official title: 7(a) Loan Agent Oversight Act
Timeline each lane is a chamber; dates pull from congress.gov actions
House
Introduced
03-MAR-2025
Referred
03-MAR-2025
Approved by committee
05-MAR-2025
Reported
24-MAR-2025
On the calendar
24-MAR-2025
Passed
03-JUN-2025
Senate
Received
04-JUN-2025
- Adds a new annual reporting requirement to Section 47 of the Small Business Act, in addition to an existing report
- Requires counts of 7(a) agents by type, fraudulent loans involving agents, and the purchase rate for agent-assisted loans
- Requires totals and dollar values of referral fees, split by whether the applicant or the lender paid them
- Requires an analysis of agent-related risk and interest rates, without naming individual agents, plus a description of how the SBA communicates with agents
Covers an older version. The newest CRS summary describes the bill as of "Introduced in House" (03-MAR-2025); the text has changed since (Engrossed in House, 03-JUN-2025).
CRS is the Library of Congress's nonpartisan research office. Read it on congress.gov- Small Business Committee (House)
- Small Business and Entrepreneurship Committee (Senate)
Commerce
■ 1 D
1 Democrat