{"format":1,"id":"117-hr-4481","congress":117,"number":"H.R. 4481","kind":"bill","group":"bills","title":"Small Business 7(a) Loan Agent Transparency Act","title_source":"Short Title(s) as Passed House","official_title":"To amend the Small Business Act to establish requirements for 7(a) agents, and for other purposes.","titles":[{"type":"Official Title as Introduced","title":"To amend the Small Business Act to establish requirements for 7(a) agents, and for other purposes."},{"type":"Short Titles from RFS (Referred to Senate) bill text","title":"Small Business 7(a) Loan Agent Transparency Act"},{"type":"Display Title","title":"Small Business 7(a) Loan Agent Transparency Act"},{"type":"Short Title(s) as Passed House","title":"Small Business 7(a) Loan Agent Transparency Act"},{"type":"Short Title(s) as Reported to House","title":"Small Business 7(a) Loan Agent Transparency Act"},{"type":"Short Title(s) as Introduced","title":"Small Business 7(a) Loan Agent Transparency Act"}],"outcome":"passed_house","law_number":null,"introduced":"2021-07-16","chambers":{"house":{"status":"roll_call","date":"2021-11-02","vote":{"id":"117-2021-h351","question":"On Motion to Suspend the Rules and Pass","title":"Small Business 7(a) Loan Agent Transparency Act","result":"Passed","yea":407,"nay":9,"present":0,"not_voting":15,"source":"https://clerk.house.gov/evs/2021/roll351.xml"}},"senate":{"status":"na","date":null,"vote":null}},"president":{"status":"na","date":null},"vice_president_tie_breaker":null,"latest_action":{"text":"Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.","date":"2021-11-03"},"nominees":null,"amendments":[],"other_votes":[],"crs_summary":{"date":"2021-11-02","stage":"Passed House","blocks":[{"k":"h","t":"Small Business 7(a) Loan Agent Transparency Act"},{"k":"p","t":"This bill provides oversight of 7(a) loan agents, including by requiring the Small Business Administration (SBA) to establish a registration system for such agents whereby certain data may be collected and by mandating that such agents register with the system and pay an annual registration fee."},{"k":"p","t":"These agents provide referral and loan application services related to the SBA's 7(a) Program. Under the 7(a) Program, the SBA guarantees up to 80% of a private lender's loan to a small business borrower who cannot obtain credit elsewhere on reasonable terms and conditions."}],"words":97},"summary":{"main_subject":{"text":"Amends the Small Business Act to require persons who help with or refer section 7(a) loan applications, called 7(a) agents, to register in a system run by the Director and to come under existing lender oversight and enforcement provisions.","cites":[{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4481/text/eh#HF24F81906517476EB93CF18D029A4C24"}]},"core_areas":["Registration system and annual fee for 7(a) agents","Oversight and enforcement authority over 7(a) agents in the Small Business Act","Definitions of 7(a) agent and covered services"],"what_it_does":[{"text":"Requires the Director to establish a registration system for 7(a) agents that assigns a unique identifier to each 7(a) agent and collects data.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4481/text/eh#HF24F81906517476EB93CF18D029A4C24"}},{"text":"Requires a 7(a) agent to register in the system before providing covered services to a lender or applicant.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4481/text/eh#HF24F81906517476EB93CF18D029A4C24"}},{"text":"Requires a 7(a) agent to submit an annual registration fee to the Director, effective 1 year after the date of enactment of the new subsection.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4481/text/eh#HF24F81906517476EB93CF18D029A4C24"}},{"text":"Requires the Director to establish and maintain an electronic database of the types of covered services provided by each 7(a) agent.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4481/text/eh#HF24F81906517476EB93CF18D029A4C24"}},{"text":"Defines a 7(a) agent as a person who provides covered services on behalf of a lender or applicant, and covered services as help completing a section 7(a) loan application or consulting, broker, or referral services for a section 7(a) loan.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4481/text/eh#HF24F81906517476EB93CF18D029A4C24"}},{"text":"Adds 7(a) agents to the Office of Credit Risk Management's duties in section 47(b), to its enforcement authority in section 47(e), and to the Lender Oversight Committee provision in section 48(c)(2) of the Small Business Act.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/117th-congress/house-bill/4481/text/eh#HF24F81906517476EB93CF18D029A4C24"}}],"unexpected":[],"version":{"type":"Engrossed in House","date":"2021-11-02","rule":"passed","href":"https://www.congress.gov/bill/117th-congress/house-bill/4481/text/eh"},"current":true,"model":"claude-sonnet-5-5","approved":"2026-10-15","approved_by":"checks"},"sources":{"congress_gov":"https://www.congress.gov/bill/117th-congress/house-bill/4481","text":"https://www.congress.gov/bill/117th-congress/house-bill/4481/text"},"card":{"image":"card/item/117-hr-4481.png","v":"6948cf6a930e","alt":"Votes on Record. H.R. 4481, 117th Congress: Small Business 7(a) Loan Agent Transparency Act. House: 407 Yea, 9 Nay. Outcome: Passed House, 2 Nov 2021."}}