Passed in the House on June 3, 2025 · 405 Yea, 3 Nay, 24 Not Voting
Question: On Motion to Suspend the Rules and Pass: H R 1804 7(a) Loan Agent Oversight Act
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…