H.R. 1804 Passed the House Commerce

7(a) Loan Agent Oversight Act

To amend the Small Business Act to require a report on 7(a) agents, and for other purposes.

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. Meuser, Daniel [R-PA-9] Introduced March 3, 2025 Cosponsors 1 (1 D) Latest action June 4, 2025

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.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Roll-call votes

Actions

  1. Jun 4, 2025 Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
  2. Jun 3, 2025 Motion to reconsider laid on the table Agreed to without objection.
  3. Jun 3, 2025 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)
  4. Jun 3, 2025 Considered as unfinished business. (consideration: CR H2403-2404)
  5. Jun 3, 2025 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.
  6. Jun 3, 2025 DEBATE - The House proceeded with forty minutes of debate on H.R. 1804.
  7. Jun 3, 2025 Considered under suspension of the rules. (consideration: CR H2398-2399)
  8. Jun 3, 2025 Mr. Williams (TX) moved to suspend the rules and pass the bill.
  9. Mar 24, 2025 Placed on the Union Calendar, Calendar No. 22.
  10. Mar 24, 2025 Reported by the Committee on Small Business. H. Rept. 119-33.
  11. Mar 5, 2025 Ordered to be Reported by the Yeas and Nays: 25 - 0.
  12. Mar 5, 2025 Committee Consideration and Mark-up Session Held

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