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LEGISLATION/H.R. 1804

7(a) Loan Agent Oversight Act

119-HR-1804119th CongressIntroduced Mar 3, 2025Commerce
Market Probability
No market
Status
Introduced
Committee
Floor Vote
Other Chamber
Signed
Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.

Sponsor

Rep. Meuser, Daniel [R-PA-9](R-PA-9)
1 cosponsor

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.

Subjects

Congressional oversightFraud offenses and financial crimesGovernment information and archivesGovernment lending and loan guaranteesGovernment studies and investigations

Actions (17)

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