HR. 1804In Committee
7(a) Loan Agent Oversight Act
Requires the Small Business Administration to issue annual reports on 7(a) loan agents, including their activity, fraud involvement, loan purchase rates, and referral fees
Plain-English overview
What this bill does
Requires the Small Business Administration to issue annual reports on 7(a) loan agents, including their activity, fraud involvement, loan purchase rates, and referral fees
Key points
- Require annual SBA reports
- Assess 7a loan agent activity
- Review fraudulent loan use
- Review referral fee totals
Current status
Where it stands
Status
In Committee
Latest action
2025-06-04 — Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
Related context
Topics and policy areas
undefinedCommerceCongressional oversightFraud offenses and financial crimesGovernment information and archivesGovernment lending and loan guaranteesGovernment studies and investigations