{"format":1,"id":"119-hr-1804","congress":119,"number":"H.R. 1804","kind":"bill","group":"bills","title":"7(a) Loan Agent Oversight Act","title_source":"Short Title(s) as Passed House","official_title":"To amend the Small Business Act to require a report on 7(a) agents, and for other purposes.","titles":[{"type":"Official Title as Introduced","title":"To amend the Small Business Act to require a report on 7(a) agents, and for other purposes."},{"type":"Official Title from EH (Engrossed in House) bill text","title":"To amend the Small Business Act to require a report on 7(a) agents, and for other purposes."},{"type":"Short Titles from RFS (Referred to Senate) bill text","title":"7(a) Loan Agent Oversight Act"},{"type":"Short Title(s) as Passed House","title":"7(a) Loan Agent Oversight Act"},{"type":"Short Title(s) as Reported to House","title":"7(a) Loan Agent Oversight Act"},{"type":"Display Title","title":"7(a) Loan Agent Oversight Act"},{"type":"Short Title(s) as Introduced","title":"7(a) Loan Agent Oversight Act"}],"outcome":"passed_house","law_number":null,"introduced":"2025-03-03","chambers":{"house":{"status":"roll_call","date":"2025-06-03","vote":{"id":"119-2025-h147","question":"On Motion to Suspend the Rules and Pass","title":"7(a) Loan Agent Oversight Act","result":"Passed","yea":405,"nay":3,"present":0,"not_voting":24,"source":"https://clerk.house.gov/evs/2025/roll147.xml"}},"senate":{"status":"pending","date":null,"vote":null}},"president":{"status":"not_yet","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":"2025-06-04"},"nominees":null,"amendments":[],"other_votes":[],"crs_summary":{"date":"2025-03-03","stage":"Introduced in House","blocks":[{"k":"h","t":"7(a) Loan Agent Oversight Act"},{"k":"p","t":"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."},{"k":"p","t":"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."}],"words":133},"summary":{"main_subject":{"text":"Amends the Small Business Act to require the Director to submit to Congress an annual report on 7(a) agents who assist applicants and lenders with loans under section 7(a).","cites":[{"label":"Sec. 2","href":"https://www.congress.gov/bill/119th-congress/house-bill/1804/text/eh#HF322F1FA2CAF45A5A2878FDC15AC23F7"}]},"core_areas":["Annual reporting on 7(a) agents in Small Business Administration 7(a) loans"],"what_it_does":[{"text":"Amends section 47 of the Small Business Act to require the Director to submit to Congress an annual report, in addition to the report required under subsection (h)(2).","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/119th-congress/house-bill/1804/text/eh#HF322F1FA2CAF45A5A2878FDC15AC23F7"}},{"text":"Requires the report to state the number of 7(a) agents assisting applicants for section 7(a) loans, disaggregated by agent type as reported on the Fee Disclosure and Compensation Agreement or any subsequent agreement forms.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/119th-congress/house-bill/1804/text/eh#HF322F1FA2CAF45A5A2878FDC15AC23F7"}},{"text":"Requires the report to state the number of fraudulent loans made for which an applicant used the services of a 7(a) agent, and the purchase rate by the Administrator of loans for which an applicant used such services.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/119th-congress/house-bill/1804/text/eh#HF322F1FA2CAF45A5A2878FDC15AC23F7"}},{"text":"Requires the report to state the number and aggregate dollar value of referral fees paid to 7(a) agents, disaggregated by whether the applicant or the 7(a) lender paid them.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/119th-congress/house-bill/1804/text/eh#HF322F1FA2CAF45A5A2878FDC15AC23F7"}},{"text":"Requires the report to include an analysis of interest rates on loans for which an applicant or lender used an agent, and a description of how the Administrator communicates with 7(a) agents.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/119th-congress/house-bill/1804/text/eh#HF322F1FA2CAF45A5A2878FDC15AC23F7"}},{"text":"Requires the report to include, without naming individual agents, a consolidated risk analysis of agents responsible for at least 1 percent of the dollar value of loans, or of the number of loans, made with agent assistance.","cite":{"label":"Sec. 2","href":"https://www.congress.gov/bill/119th-congress/house-bill/1804/text/eh#HF322F1FA2CAF45A5A2878FDC15AC23F7"}}],"unexpected":[],"version":{"type":"Engrossed in House","date":"2025-06-03","rule":"passed","href":"https://www.congress.gov/bill/119th-congress/house-bill/1804/text/eh"},"current":true,"model":"claude-sonnet-5-5","approved":"2026-09-29","approved_by":"checks"},"sources":{"congress_gov":"https://www.congress.gov/bill/119th-congress/house-bill/1804","text":"https://www.congress.gov/bill/119th-congress/house-bill/1804/text"},"card":{"image":"card/item/119-hr-1804.png","v":"8d9727f95a5c","alt":"Votes on Record. H.R. 1804, 119th Congress: 7(a) Loan Agent Oversight Act. House: 405 Yea, 3 Nay. Senate: not yet considered. Outcome: Passed House, 3 Jun 2025."}}