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H.R. 1804 · Commerce
7(a) Loan Agent Oversight Act
Introduced Mar 3, 2025 · Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.
What does this mean?

The Small Business Administration runs a program that helps small businesses get loans by guaranteeing part of the loan for banks, making lenders more willing to say yes. Some businesses use paid "loan agents" who help them fill out applications and connect with lenders in exchange for a fee. This bill requires the SBA to publish a yearly report tracking how many of these agents are involved in loans, how many of those loans turn out to be fraudulent, how often those loans end up unpaid (with the government having to cover the guarantee), and how much money is being paid to these agents in fees overall.

Read the official CRS summary on Congress.gov →
Bill Lifecycle
Real action history from Congress.gov — where this bill is in the process, and every recorded step along the way.
Introduced in House
Mar 3, 2025
Referred to Committee
Mar 3, 2025
Passed House
Jun 3, 2025
Received in Senate
Jun 4, 2025
Full action history (15)
Mar 3, 2025Referred to the House Committee on Small Business.
Mar 3, 2025Introduced in House
Mar 5, 2025Ordered to be Reported by the Yeas and Nays: 25 - 0.
Mar 5, 2025Committee Consideration and Mark-up Session Held
Mar 24, 2025Placed on the Union Calendar, Calendar No. 22.
Mar 24, 2025Reported by the Committee on Small Business. H. Rept. 119-33.
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