119th Congress > House > Vote 146

Date: June 03, 2025

Result: 405-3 (Passed)

Clerk session vote number: 147

Sponsor: MEUSER, Dan (R-PA)

Bill number: HR1804

Question: On Motion to Suspend the Rules and Pass

Description: 7(a) Loan Agent Oversight Act

Bill 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.



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

Links for more info on the vote: congress.gov

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